Peak Re

Peak Re’s Cheng: Asia agriculture demand to keep rising as exposure grows

Asia is a leading provider of key crops such as rice and wheat but insurance availability across the continent is struggling to keep pace with rising exposures.

Peak Re ready to deploy fresh capacity at 1.1

Peak Re is positioned to deploy additional capacity at upcoming renewals following recent portfolio remediation efforts, according to CUO Piotr Nowakowski.

Expanding cyber insurance market demands ongoing capital investment

Peak Re’s Edward Shen says further capital support and accumulation management are key to maintaining the cyber market’s growth.

Peak Re reports 84.9% CR as H1 GWP hits $848mn

Hong Kong-based reinsurer Peak Re has posted a P&C insurance combined ratio of 84.9 percent for the first half of 2024.

Peak Re elevates Menezes to chief risk officer

Hong Kong-based reinsurer Peak Re has appointed David Menezes as chief risk officer, having served as deputy since September 2022.

Peak Re posts 87.3% P&C combined ratio

Hong Kong-based reinsurer Peak Re has reported a P&C combined ratio of 87.3 percent for 2023, an improvement of 22.8 percentage points on the prior year.

Moody’s revises Peak Re outlook to stable from negative

Moody’s has changed its outlook to stable from negative for Hong Kong-based reinsurer Peak Re and affirmed its Baa1 insurance financial strength rating.

Peak Re expands structured solutions offering into P&C

Hong Kong-based reinsurer Peak Re has announced the strategic expansion of its structured solutions team to include P&C business.

Reports: Fosun revives $1bn Peak Re sale plans

Fosun International has revived its plan to sell Hong Kong-based reinsurer Peak Re, with BNP Paribas SA advising on the process, according to reports.

Peak Re: Financial losses from cyber dominate consumer concerns

Almost two-thirds of emerging middle-class Asians have faced cybersecurity issues, with financial losses from cyber crime ranked as their main concern, according to Peak Re.

Peak Re ready to deploy fresh capacity at 1.1 but will stand firm on rate and terms

Peak Re is willing to deploy fresh capacity at the upcoming renewals but will remain steadfast in its determination not to cede ground on attachment points and terms and conditions at a time of heightened frequency of losses from so-called secondary perils.

Market dynamics shift in South and Southeast Asia as reinsurers re-examine cat exposures

Pricing is set to continue to harden across South and Southeast Asia at the upcoming 1 January renewals, amid concerns around the projected rise in loss costs associated with increased exposures, according to Peak Re’s Jasmine Miow.

AM Best maintains negative outlook for Peak Re over Fosun contagion risk

AM Best has affirmed the A- financial strength ratings and “a-” long-term issuer credit ratings of Peak Reinsurance Company (Hong Kong) and its subsidiary, Peak Reinsurance AG (Switzerland), with a negative outlook.

Peak Re posts record $160mn profit for H1 2023

Peak Re has posted record profit of $160mn for the first half of 2023, a significant improvement on last year’s $103mn loss for the six-month period.

Peak Re reports $81mn net loss as CR rises to 101.4%

Peak Re has reported a net loss of $81mn for 2022 on the back of mark-to-market investment losses and elevated catastrophe claims.

Fosun appoints Deutsche Bank as it mulls Peak Re sale: report

Fosun International has appointed Deutsche Bank to advise on a potential sale of its stake in Hong Kong-based reinsurer Peak Re, according to reports.

Fosun-owned Peak Re explores sale following rating downgrade

Peak Re is understood to be weighing up its strategic options following Moody’s revised outlook to negative for both the reinsurance company and its majority shareholder, Fosun International Limited.

Peak Re handed negative outlook by AM Best

Peak Re has had the outlook on its A- financial strength and “a-” long-term issuer credit ratings revised to negative by AM Best, with the rating agency citing the impact of economic headwinds on the carrier’s ultimate parent Fosun International.

Peak Re ratings placed on review for downgrade by Moody’s

Peak Re’s Baa1 insurance financial strength rating has been placed on review for downgrade by Moody’s.

Moody’s downgrades Peak Re and changes outlook to negative

Moody’s Investors Service has downgraded the insurance financial strength rating of Peak Re from A3 to Baa1 while simultaneously changing the outlook to negative from ratings under review as a result of “weak liquidity” at parent company Fosun.

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