Reinsurance News
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
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
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
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
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
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
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
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
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
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
5th May 2020
Hong Kong-based reinsurer Peak Re has completed its acquisition of the capital of Lutece Holdings and its subsidiary Lutece Investment Management, which will be renamed Peak Capital. The Bermuda-based ILS investment specialist is now a wholly owned subsidiary of Peak Re. The completion of the transaction follows the fulfilment of customary closing ... Read the full article
4th May 2020
Hong Kong-based reinsurer Peak Re has reported a year-on-year rise in net profit in 2019 to USD 35 million, despite the impacts of frequent natural catastrophe events and market volatility. Net profit for the full-year improved on the $19.5 million recorded in 2018, with a strong performance recorded in both its ... Read the full article
8th April 2020
Hong Kong domiciled reinsurer Peak Re has strengthened its insurance-linked securities (ILS) capabilities with the acquisition of Bermuda-based ILS asset manager, Lutece Holdings Ltd. and its subsidiary Lutece Investment Management Ltd. Peak Re has entered into definitive agreements to acquire 100% of the capital of Lutece Holdings and its subsidiary, with ... Read the full article
7th January 2020
Hong Kong-based global reinsurer Peak Re has renewed and upsized Lion Rock Re, the first Asian sidecar. At $77 million, Lion Rock Re II saw investors exceed the $75 million raised by the sidecar’s first iteration in 2018. To effect the arrangement, Lion Rock Re II entered into an exclusive quota ... Read the full article
19th December 2019
AM Best has affirmed its financial strength and credit ratings for Hong Kong-based reinsurer Peak Reinsurance Company Limited (Peak Re), citing robust capitalisation, improved investment risk, and strong liquidity. The rating agency upheld its financial strength rating of A- (Excellent) and its long-term issuer credit rating of ‘a-‘ for both Peak ... Read the full article
