Annual Report 2015

Based in Hong Kong at the heart of the Asia Pacific Region and authorised by the Office of the Commissioner of Insurance of Hong Kong (“OCI”), Peak Reinsurance Company Limited (“Peak Re”) was licensed in December 2012.

About Peak Re

FINANCIAL HIGHLIGHTS

Gross Written Premium:

US$

582.68 million

Profit for the Year:

US$

59.16 million

Shareholder Equity:

US$

716.86 million

Details

BUSINESS PORTFOLIO

MARKET REACH

BOARD OF DIRECTORS

SENIOR MANAGEMENT

Details

MILESTONES 2015

  • Partnership with STI

  • Strengthening our Presence in Europe

  • A.M. Best Reaffirmed Peak Re’s Financial Strength Rating

  • US$500 Million Premium Mark Achieved

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BUSINESS OVERVIEW

In 2015, Peak Re’s third year of operation, the Company doubled its technical underwriting profit to US$30.8 million with a net underwriting profit of US$8.7 million and a combined ratio of 96.8%, on the back of further improvements in technical excellence and continued cost discipline. Gross written premiums doubled to US$582.7 million.

Peak Re further progressed on its strategy of becoming a truly global reinsurer with a well-diversified, balanced portfolio. In 2015, the Company opened a branch office in Zurich and announced its first strategic investment in the Caribbean.

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RISK MANAGEMENT REPORT

Peak Re is in the business of assuming underwriting risk and investing assets. This exposes the Company to uncertainties from insurance and investment activities. Peak Re manages these uncertainties with the objective of protecting the trust invested by cedants - and ultimately policyholders - and its shareholders into the Company.

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