AM Best affirms “Excellent” Ratings of Peak Re and its subsidiary

Peak Reinsurance Company Limited (“Peak Re”), a global reinsurer based in Hong Kong, is pleased to announce that AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-“ of Peak Re and its Zurich-based subsidiary, Peak Reinsurance AG (“Peak Re AG”). The outlook of the credit ratings of both companies is stable.

2018 has been a significant year for Peak Re. After completing five full years of operation, the international reinsurer from Hong Kong has continued to reach new heights:

  • It has become the 36th largest reinsurer worldwide according to AM Best, leaping from the 43th position in 2017;
  • It has been awarded the Asian Reinsurer of the Year for the third consecutive year by Asian Banking and Finance;
  • It has opened a representative office in Japan, further strengthening its foothold in its target market of Asia;
  • On 9 December, the company announced that it has launched Asia’s first sidecar transaction, which represents a significant milestone in the Asian reinsurance market.

For more information about the ratings, please see the AM Best press release.

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About Peak Re
Peak Re is headquartered in Hong Kong with shareholder equity of US$1.02 billion as of 30 June 2018. It is authorised by the Insurance Authority of Hong Kong and is rated “A-” by AM Best, a leading international insurance industry credit rating agency. Fosun International Limited (00656.HK) and Prudential Financial, Inc. hold 86.9% and 13.1% of Peak Re via Peak Reinsurance Holdings Limited, respectively. Peak Re offers reinsurance services covering a range of lines across Asia Pacific, EMEA and the Americas, tailor-making risk transfer and capital management solutions to best fit clients’ needs.

For media enquiries, please contact:

Bonnie Wu
Head of Corporate Communications
Peak Reinsurance Company Limited
Tel: +852 3509 6538
Email: bonnie@peak-re.com
Edward Ion
Managing Partner
Helix Media Pte Ltd
Tel: +65 91116871
Email: edward.ion@helixmedia.asia
Henner Alms
Partner
Dr. Schanz, Alms & Company
Tel: +41 44 256 1082
Email: henner.alms@schanz-alms.com