Reinsurance News
Peak Re
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
Peak Re wraps up Lutece Holdings acquisition
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
Peak Re reports higher profit & premium income in “balanced” 2019
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
Peak Re targets enhanced ILS capabilities with Lutece acquisition
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
Peak Re renews, expands Lion Rock Re sidecar for 2020
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
Peak Re receives ratings affirmation from AM Best
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
Greg Solomon joins Peak Re as Head of Life & Health
7th November 2019
Hong Kong based global reinsurer Peak Reinsurance Company Limited (Peak Re) has announced that Greg Solomon has joined the company as Managing Director of Life & Health, effective November 1, 2019. Solomon arrives from Willis Towers Watson, where he was in charge of Life & Health Reinsurance Broking for all of ... Read the full article
Peak Re profits down 55% in H1 despite premium growth
27th August 2019
Hong Kong domiciled reinsurer Peak Reinsurance Company Limited (Peak Re) saw its net profit slide 55% over the first six months of 2019 despite significant premium growth. Peak Re recorded net profit of US $13.5 million in H1 2019, down from $30.2 million for the same period last year and ... Read the full article
Peak Re develops unique, cancer multi-protection policy for Vietnam
13th June 2019
Hong Kong domiciled global reinsurer, Peak Reinsurance Company Limited (Peak Re) has announced the creation of a unique multiple cancer benefits reinsurance solution for Vietnam. Peak Re states that the development of this solution is part of its broader strategy to support the evolving needs of the emerging middle class and ... Read the full article
Cat losses push Peak Re’s profit down to $19.5mn in 2018
10th May 2019
Hong Kong domiciled reinsurer Peak Reinsurance Company Limited (Peak Re) reported net profit of $19.5 million for 2018 as its earnings were impacted by several large natural catastrophe events. The reinsurer’s combined ratio for the year was 98.3%, with 2018 representing the sixth consecutive year of growth for the company despite ... Read the full article
Peak Re CEO Hahn becomes member of Geneva Association
29th April 2019
Hong Kong domiciled reinsurer, Peak Reinsurance Company Limited (Peak Re), has announced that its Chief Executive Officer, Franz Josef Hahn, has become a member of The Geneva Association, an international think tank for re/insurance and risk management issues. Established in 1973, The Geneva Association is a non-profit organisation funded by its ... Read the full article
Technology key in closing emerging Asia’s life, health protection gap: survey
10th April 2019
Increasing rates of cancer, diabetes and cardiovascular diseases constitute emerging Asia’s single most important life & health protection gap, according to a survey conducted by research, communication and business development consultancy firm Dr. Schanz, Alms & Company. The findings - part of the Peak Re-sponsored Emerging Asia Life Insurance Pulse survey - ... Read the full article
Emerging Asia’s expanding ecosystem is substantial, self-sufficient: Peak Re’s Kershaw
8th March 2019
There’s an expanding ecosystem in emerging Asia which is now substantial and self sufficient for the majority of its business, according to Peak Re’s Managing Director of Global Markets, Chris Kershaw. Addressing an audience yesterday in the Old Library at the Lloyd’s of London headquarters, Kershaw said it is no longer ... Read the full article
Peak Re secures $75mn of retrocession in Asia’s first sidecar deal
10th December 2018
Hong Kong domiciled reinsurer, Peak Reinsurance Company Limited (Peak Re), has secured $75 million of collateralised retrocession from private investors via its new Bermuda-domiciled special purpose insurer, Lion Rock Re Ltd. The deal is Asia’s first sidecar transaction and Peak Re claims that it represents an important milestone for the region’s ... Read the full article
Asia-Pacific will remain our core: Peak Re’s Chris Kershaw
26th October 2018
China is a big part of Peak Reinsurance’s current portfolio and will continue to be so, while the increasing opportunities in India have only just started to be addressed, according to the company’s Managing Director of Global Markets, Chris Kershaw. In a recent interview with Reinsurance News Kershaw laid out his ... Read the full article