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This wrap-up of international People Moves details recent appointments at Peak Re, the Hong Kong-based reinsurer; Euler Hermes, the Paris headquartered
Peak Re more than doubles profits in 2020
20-05-2021
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02-06-2020
Peak Reinsurance Company, the Hong Kong-based global reinsurer, reported strong growth across the business in its full year results for 2020, with particularly strong growth outside its core markets in Asia Pacific.
Peak Re reported net profit of $87.1 million in 2020, up from $34.9 million the previous year.
Gross written premiums (GWP) increased to just under $2 billion in 2020, from $1.66 billion in 2019.
It reported stable revenue growth in Asia Pacific and strong performance in the Americas and EMEA. In 2020, 61 percent of its revenue, based on GWP, was generated in Asia Pacific, with 29 percent coming from the Americas and 10 percent from EMEA. That represented an increase of 5.4 percent, 52.4 percent and 30.9 percent, respectively, compared to 2019.
Peak Re: a hard climb, but ever upwards
17-05-2021
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12-05-2020
Hong Kong-based reinsurer Peak Re goes from strength to strength, following the successful renewal of its Lion Rock Re reinsurance sidecar in February 2021. But, as chief Franz Josef Hahn explains, it wasn’t all plain sailing.
When Peak Re first ventured into the insurance-linked securities (ILS) market in 2018, it was something of a pioneer: Lion Rock Re represented the first reinsurance sidecar from an Asia-based sponsor.
According to chief executive officer Franz Josef Hahn, ILS has since become an integral part of Peak Re’s retrocession strategy, with Lion Rock Re at its core. The fully collateralised reinsurance sidecar was renewed in February 2021 for the third time at $107 million, up more than one third on $77 million in 2020.