Reinsurance News
Peak Re
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
Peak Re profits surge in 2020 as premiums up 18%
20th May 2021
Peak Reinsurance Company Limited the Hong Kong-based global reinsurer has reported a 150% increase on net profit for 2020 when compared with the previous year. Net profit grew to $87.1 million, from $34.9 million in 2019, helped by a large increase in gross written premiums. GWP in 2020 rose to $1.966 billion, ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
