Peak Re named ‘Asian Reinsurer of the Year’ fourth time in a row

Monday, 22 July 2019 00:50 - - {{hitsCtrl.values.hits}}

Peak Reinsurance Company Ltd., (Peak Re), a Hong Kong-based global reinsurer, is pleased to announce that it has won the ‘Asian Reinsurer of the Year’ award at the Asian Banking and Finance Insurance Asia Awards 2019.

This is the fourth consecutive time that Peak Re has won the accolade. Organised by the Asian Banking and Finance magazine, the award is one of the most prestigious awards in the (re)insurance industry.

“We’re honoured to be recognised as the best reinsurer in Asia for the fourth consecutive year. This is strong testament to our achievements in the past years, and a motivation for everyone at Peak Re to continue to work towards a better future for the emerging middle class society in Asia and around the globe,” said Peak Re Chief Executive Officer Franz Josef Hahn.

As the only privately owned Hong Kong-based global reinsurer, Peak Re has achieved significant results since its foundation in 2012. It has grown from a start-up to become a global company, with a footprint that reaches beyond Asia to Europe and Americas. The company’s premiums now exceed $ 1.38 billion.

“We thank our colleagues at Peak Re, who have worked hard together in building a strong company with a culture that embraces entrepreneurship, agility and insights. These are the values that we believe make Peak Re stand out in the industry,” said Hahn.

2018 was a defining year for Peak Re. It launched the first sidecar transaction in Asia and initiated the first trade credit ecosystem in Pakistan that allows cedants to access high-quality information and Peak Re’s professional advice and consultation. It also maintained its unmatched record of paying more than 90% of claims in less than five days.

Peak Reinsurance is the only privately owned global reinsurance company headquartered in Hong Kong.

With a shareholder equity of $ 965.5 million as of 31 December 2018, it enjoys an ‘A-’ rating by A.M. Best, a leading international insurance industry credit rating agency, and ranks among the top 36 global reinsurance groups in terms of gross written premiums.

Fosun International Ltd., and Prudential Financial, Inc. hold approximately 87% and 13% of Peak Re via Peak Reinsurance Holdings Ltd., respectively.

Peak Re offers reinsurance services covering a range of lines across Asia Pacific, Europe, the Middle East and Africa, and the Americas, tailor-making risk transfer and capital management solutions to best fit clients’ needs.