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Peak Re

Peak Re profits surge on top line growth

31st March 2021

Hong Kong-based reinsurer Peak Re has reported a year-on-year rise in net profit in 2020 to US $90.8 million, on the back of 18.1% growth in gross written premiums. Profit was significantly up from the $35 million that Peak Re reported in 2019, while premium income rose to $1.966 billion, up ... Read the full article

Pandemic widened protection gap in emerging Asia: Peak Re

30th March 2021

Clarence Wong, Chief Economist at Hong Kong domiciled reinsurer Peak Re, has asserted that the economic fallout from the COVID-19 pandemic has served to further widen the protection gap in emerging Asian countries. The prevalence of under-insurance and non-insurance in emerging markets is well-documented and exists across various different risks, from ... Read the full article

Peak Re names Reynolds & Souter as Co-Heads of P&C as Kershaw departs

25th March 2021

Hong Kong domiciled reinsurer, Peak Reinsurance Company Limited, has announced that Iain Reynolds and Andy Souter will serve as Co-Heads of its P&C operation following the departure of Chris Kershaw, Managing Director, Global Markets and Co-Head of P&C. After more than eight years of service, Kershaw leaves Peak Re on April ... Read the full article

Peak Re inks largest Lion Rock Re sidecar transaction yet

18th February 2021

Hong Kong-based global reinsurer Peak Re has announced the completion of its third successive reinsurance sidecar transaction via Lion Rock Re Ltd, the company’s Bermuda-domiciled Special Purpose Insurer. This latest transaction saw Peak Re successfully raise $107 million. At $107 million, Lion Rock Re III saw investors exceed the $77 million ... Read the full article

Africa Specialty Risks secures multi-year binder capacity with GIC and Peak Re

15th February 2021

Newly launched Pan-African focused reinsurer, Africa Specialty Risks Group (ASR), has secured additional multi-year binder capacity of up to $25 million per risk via a new partnership with GIC of India and Hong Kong domiciled Peak Re. ASR is now able to offer capacity across Property, Political Risk, Trade Credit, and ... Read the full article

K2 renews US Cat facilities for 2021

16th November 2020

Specialty insurance and reinsurance underwriting platform K2 International (K2) has announced that Head underwriter David Carson’s team has renewed all three of its US Cat facilities for 2021 with existing carriers. Carriers include Peak Re, Taiping Re and Cathay Century Insurance. This will be the eighth year of underwriting on behalf of ... Read the full article

Peak Re targets growth in hardening market with $250mn capital raise

28th October 2020

Peak Re (BVI) Holding Limited, a wholly-owned subsidiary of Hong Kong domiciled global reinsurance company, Peak Reinsurance Company Limited, has become the first reinsurer based in Hong Kong to issue Public Hybrid Securities. The Peak Re subsidiary has successfully completed the issuance of USD 250 million of perpetual subordinated guaranteed capital ... Read the full article

Peak Re adds Swiss Re’s Clarence Wong as Chief Economist

21st October 2020

Hong Kong domiciled reinsurer Peak Re has announced the appointment of Clarence Wong as its new Chief Economist, effective November 16th, 2020. In his new role, Wong will report directly to Peak Re's Chief Executive Officer (CEO), Franz Josef Hahn. He takes on responsibility for delivering strategic insights on economic, insurance ... Read the full article

Insurance must be an integrated part of a better future: Peak Re CEO

16th October 2020

Peak Re Chief Executive Officer Franz Josef Hahn has underlined how the insurance industry must be an integrated part of working towards a better future. In a conversation at one of Aon’s recent fireside chats with industry leaders, Hahn spoke at length about how emerging risks such as cyber and climate ... Read the full article

A tsunami of price & condition strengthening is coming, says Peak Re CEO Hahn

14th October 2020

After a prolonged soft market state, characterised by fading margins amid low interest rates, elevated catastrophe losses and inadequate rates, the reinsurance industry can expect to see a significant amount of price and condition strengthening, according to Franz Josef Hahn, Chief Executive Officer (CEO) of Hong Kong reinsurer, Peak Re. "Everybody ... Read the full article

Peak Re names Pioneer’s Andrew Souter as Director of Markets

23rd September 2020

Hong Kong domiciled reinsurer, Peak Reinsurance Company Limited (Peak Re), has named Andrew Souter as its Director of Markets, effective early November 2020. In his new role, Souter will take oversight of the clients' portfolio in Global Markets and will be responsible for developing Peak Re's Property & Casualty (P&C) reinsurance ... Read the full article

Peak Re names Matteo Cussigh as SVP of Markets

16th September 2020

Hong Kong domiciled reinsurer, Peak Reinsurance Company Limited, has announced the appointment of Matteo Cussigh from NewRe as Senior Vice President (SVP) of Markets. Cussigh brings two decades of reinsurance industry service to the role, with experience in both traditional reinsurance and alternative risk tools with brokers and reinsurers. Prior to Peak ... Read the full article

Peak Re posts robust performance in H1, COVID-19 impact “mild”

28th August 2020

Hong Kong domiciled reinsurer Peak Reinsurance has reported a net income of $26.1 million over the first half of 2020, up from $13.5 million in the prior year period. Despite the negative impact COVID-19 continues to have on overall re/insurance industry performance, Peak Re's results in the period are strong. In fact, ... Read the full article

Alternative capital surge imminent in emerging Asia: Peak Re CEO

23rd July 2020

Strong growth prospects across regions in the emerging Asian market, combined with low penetration rates and rising loss values, means a surge in the use of alternative capital is imminent. This is according to Peak Re CEO Franz Josef Hahn, who stressed the growing importance of insurance-linked securities (ILS) in the ... Read the full article

Peak Re assigned first-time A3 rating by Moody’s

16th June 2020

Hong Kong domiciled reinsurer, Peak Reinsurance Company Limited, has received an A3 insurance financial strength rating (IFSR) from Moody's Investors Service, while the outlook on the rating is stable. Moody's highlights the reinsurance company's good franchise in the Asian reinsurance sector, robust capitalisation, expanding product and geographical diversification, alongside a growing ... Read the full article

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