Reinsurance News

Peak Re

Re/insurers need to step up their efforts to narrow protection gap: Peak Re CEO Hahn

14th September 2022

A widening of the protection gap, says Franz Josef Hahn, Chief Executive Officer (CEO) of Hong Kong domiciled reinsurer Peak Re, is "perhaps one of the most imminent threats" to the reinsurance business. Speaking to Reinsurance News, Hahn discussed some of the main threats to the reinsurance business, including the impact ... Read the full article

Tight market to persist amid rise in demand for protection: Peak Re CEO Hahn

12th September 2022

While it remains too early to predict how the January 1st, 2023, reinsurance renewals will develop in Asia, current trends suggest that tight market conditions will persevere as demand for protection rises, according to Franz Josef Hahn, Chief Executive Officer (CEO) of Hong Kong domiciled reinsurer, Peak Re. Reinsurance News spoke ... Read the full article

Peak Re’s insurance financial strength rating downgraded by Moody’s

30th August 2022

Peak Re has seen its insurance financial strength rating (IFSR) downgraded to Baa1 from A3 by Moody’s. Moody's said it has also downgraded the backed subordinated debt rating on the subordinated perpetual securities issued by Peak Re (BVI) Holding Limited to Baa3(hyb) from Baa2(hyb). These securities are irrevocably and unconditionally guaranteed ... Read the full article

Peak Re appoints Piotr Nowakowski to Chief Underwriting Officer

12th August 2022

Hong Kong-based global reinsurer, Peak Re has appointed Piotr Nowakowski, currently Director, Head of Product Underwriting for Property and Casualty (P&C) business, as the Company’s Chief Underwriting Officer. Within this new role, Nowakowski will continue to be based in Hong Kong, where he will lead the P&C business team with a ... Read the full article

Peak Re reports $2,145mn GWP for 2021

4th July 2022

Peak Reinsurance Company Limited – the Hong Kong-based global reinsurer, has reported a 9% increase in gross written premiums (GWP) in 2021, as it rises to $2,145 million, compared to $1,966 million from 2020. Net profit for the year was $73.2 million, compared to $87.1 million in FY2020. At the same time, ... Read the full article

Moody’s places Peak Re’s ratings on review for downgrade

17th June 2022

Moody’s has placed the A3 insurance financial strength (IFSR) rating of Peak Reinsurance Company Limited (Peak Re) under review for downgrade. The rating agency is concerned of contagion risks to Peak Re increasing as Fosun's credit profile weakens. This action follows the rating action placed to review for downgrading the Ba3 corporate ... Read the full article

Peak Re sponsors 144A cat bond in Hong Kong

6th June 2022

Hong Kong-based global reinsurer, Peak Re has issued a US$150 million 144A catastrophe bond via Black Kite Re Limited, a newly established special purposed insurer in Hong Kong. As part of the transaction, Peak Re has entered into a retrocession arrangement with Black Kite Re, providing Peak Re with a multi-year ... Read the full article

Zurbuchen joins Board of Peak Re Bermuda unit

31st May 2022

Barry Zurbuchen has been appointed as a Non-Executive Director to the Board of Directors of Peak Capital Ltd., the wholly-owned Bermuda subsidiary of the Hong Kong-based global reinsurer, Peak Re. He joins the Board of Peak Capital after a 35-year career specializing in risk management, actuarial analyses and capital modelling. Zurbuchen was ... Read the full article

Peak Re names David Menezes as Deputy Chief Risk Officer

12th May 2022

Hong Kong domiciled reinsurer Peak Re has announced the appointment of David Menezes as Managing Director, Deputy Chief Risk Officer. Menezes, who currently serves as Chief Reserving Actuary at Peak Re, will take over his new position from Eckart Roth, who plans to retire in September after a 30-year career. In this ... Read the full article

Peak Re adds Piotr Nowakowski to P&C business

24th January 2022

Hong Kong domiciled reinsurer Peak Re has appointed Piotr Nowakowski as Director, Head of Product Underwriting for the firm's Property and Casualty (P&C) operation. Effective February 1st, 2022, Nowakowski takes on direct responsibility for the underwriting function, which includes underwriting governance and controls, portfolio management, and product development for Peak Re's ... Read the full article

There’s opportunity to grow in a promising Asian market: Peak Re CEO Hahn

20th October 2021

Despite the impacts of the COVID-19 pandemic, the Asian reinsurance market continues to evolve and the fundamentals are promising and present an opportunity for growth, according to Franz Josef Hahn, Chief Executive Officer (CEO) of Hong Kong domiciled reinsurer, Peak Re. “From an insurance and reinsurance perspective, Asia has been less ... Read the full article

Peak Re profit growth drives higher reinsurance revenues for Fosun in H1

25th August 2021

Fosun International Ltd., the Chinese conglomerate and investment company, has announced a much-improved contribution from its insurance and reinsurance businesses during the first-half of 2021. Overall, the insurance and reinsurance operations at Fosun delivered RMB 15.48 billion (almost US $2.4bn) of revenues in the first-half of this year, achieving a ... Read the full article

Peak Re to acquire remaining 50% stake in NAGICO

28th July 2021

Hong Kong headquartered reinsurer, Peak Reinsurance Company Limited (Peak Re), has agreed to acquire the remaining 50% issued share capital of NAGICO Holdings Limited, a leading Caribbean insurance group. Peak Re acquired a 50% stake in the company back in 2016 and this latest transaction is a natural next step, says ... Read the full article

Peak Re hires Swiss Re’s Karlheinz Render as SVP, Europe

28th June 2021

Peak Reinsurance Company's Zurich-based subsidiary, Peak Reinsurance AG (Peak Re), has appointed Karlheinz Render as Senior Vice President, Europe. Render will be responsible for developing and maintaining client relationships in the region by providing tailored solutions to support clients’ growth aspirations. He succeeds Emmanuel Thommen, former Senior Vice President at Peak Re ... Read the full article

Peak Re names Matteo Cussigh as CEO of Swiss unit

26th May 2021

Peak Reinsurance Company (Peak Re) has promoted Matteo Cussigh to the role of Chief Executive Officer (CEO) for its Zurich-based subsidiary, Peak Reinsurance AG (Peak Re AG) and Head of Marketing & Production, Europe, Peak Re. Cussigh brings over 20 years of experience in both traditional reinsurance and alternative risk solutions ... Read the full article