Reinsurance News
Peak Re
Tower and Peak Re reach $22m settlement
28th February 2018
Tower Limited has announced a $22 million settlement agreement with reinsurer Peak Re following a commercial dispute over a 2015 adverse development cover policy. New Zealand-based insurer Tower claimed $43.75 million for costs incurred from the 2011 Canterbury earthquakes covered by the reinsurance policy and sums claimed in the arbitration proceeding. The ... Read the full article
Peak Re takes minority investment from Prudential Financial
13th February 2018
Hong Kong based reinsurer Peak Reinsurance Company Limited (Peak Re) said this morning that it has taken a minority investment from a subsidiary of U.S.-headquartered Prudential Financial, Inc. The transaction has been achieved through the issuance of new shares in Peak Re, with Prudential Financial taking 13.1% of the reinsurer as ... Read the full article
Peak Re gets Singapore approval as Life & General reinsurer
10th November 2017
Hong Kong-based reinsurer Peak Re has been authorised as a Life and General Reinsurer by the Monetary Authority of Singapore with permission to operate in Singapore from November 2nd. Franz-Josef Hahn, Chief Executive Officer of Peak Re, said; “Asia is our core region. Peak Re has already built a sizable presence ... Read the full article
Closing the protection gap in Asia one of the biggest opportunities: Peak Re
15th September 2017
The Chief Executive Officer (CEO) of Hong Kong domiciled reinsurance company Peak Re, Franz Josef Hahn, believes bridging the protection gap in Asia is one of the re/insurance industry’s biggest opportunities. The global protection gap (disparity between economic and insured losses post-event) has been discussed in the risk transfer industry for ... Read the full article
Peak Re selects TigerEye for underwriting optimisation
13th September 2017
Hong Kong domiciled reinsurance company, Peak Re, has chosen Applied Insurance Technologies' platform, TigerEye to support its underwriting strategy. The selection of TigerEye will support the reinsurer's management of catastrophe exposures and also support the optimisation of Peak Re's reinsurance portfolio, says the firm. "At Peak Re, we pride ourselves on our ... Read the full article
Peak Re predicts normal typhoon season for China after fears of El Nino disperse
1st August 2017
Hong Kong based Peak Re, in collaboration with the Shanghai Typhoon Institute, has predicted a normal level of China's tropical cyclone activity for the second half of 2017 in its first seasonal forecast for China's typhoon risk after initial fears of an El Nino event forming dispersed. About half of the predicted ... Read the full article
Peak Re sees opportunities ahead after China & Hong Kong sign regulatory deal
28th July 2017
Peak Re said the concept behind the Hong Kong and China insurance regulators' agreement to mutually recognise both market’s solvency regimes is very positive step for Hong Kong and one which the Asian reinsurer believes will open up fresh opportunities for forging new alliances for its underwriting of Chinese business. The ... Read the full article
Peak Re receives approval to establish Labuan branch in Malaysia
13th June 2017
Hong Kong domiciled reinsurer Peak Re has been granted approval-in-principle to transact general reinsurance operations through the Labuan insurance market, by the Labuan Financial Services Authority (Labuan FSA), effective 23rd May, 2017. The approval means the reinsurer now has improved access to the Malaysian reinsurance sector, enabling the firm to provide and offer ... Read the full article
Peak Re targets globally diversified growth
18th May 2017
Global expansion and diversification both by territory and line of business is seen as key for Hong Kong headquartered reinsurer, Peak Reinsurance Company Limited (Peak Re). With a portfolio that was predominantly Asia Pacific focused just a year or two ago, Peak Re has been taking steps to grow into new ... Read the full article
Solvency II equivalency a “key asset” for Peak Re
3rd April 2017
Hong Kong headquartered reinsurer, Peak Reinsurance Company Limited (Peak Re), has underlined the significance of gaining Solvency II equivalency via the establishment of its reinsurance subsidiary in Zurich, Switzerland. "Peak Re's new European subsidiary will go a long way in broadening its footprint in this part of the world. The Solvency ... Read the full article
Peak Re seeking investors and IPO: Bloomberg
31st March 2017
Bloomberg News has reported this morning that Chinese conglomerate Fosun International is planning an initial public offering for its reinsurance unit, Peak Reinsurance Company. Bloomberg reports that sources told the news agency that Fosun is looking for investors for around $300 million of Peak Re's shares in advance of ... Read the full article
Peak Reinsurance gets technological makeover
10th January 2017
Peak Reinsurance Company (Peak Re) has upgraded its underwriting and claims management system with Appion - a new "low-code" platform. The Global Top-50 reinsurance firm has long been an avid-user of the latest digital technologies, ensuring its systems are open, transparent and responsive. "Peak Re is committed to investing in technology," said ... Read the full article
Peak Re licensed for Zurich reinsurance subsidiary
23rd December 2016
Peak Reinsurance Company Ltd., a top 50 global reinsurance firm from Hong Kong, has been granted approval to set up a subsidiary, Peak Reinsurance AG, by the Swiss Financial Market Supervisory Authority (FINMA). Peak Re AG, which will be the firm's main underwriting hub in continental Europe, will be based in ... Read the full article
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