Peak Re and MacquarRe sign Cooperation Agreement
Enhancing Peak Re’s client relationships with the Australia and New Zealand markets
Peak Reinsurance Company Limited (” Peak Re “), the fast growing Hong Kong based reinsurer committed to bring world class reinsurance experience to the Asia Pacific region, and MacquarRe, the Sydney based reinsurance consultancy, are delighted to announce a cooperation agreement, commencing from 1 May 2014.
Under the agreement, Simon Lyon and MacquarRe will help Peak Re develop and enhance their relationship with existing and potential clients in Australia and New Zealand, two of the priority markets for Peak Re.
Commenting on this cooperation, Chris Kershaw, Managing Director-Global Markets of Peak Re, said: “We are pleased to partner with MacquarRe, with their profound knowledge of the Australian and New Zealand markets. Peak Re has successfully entered the two markets since our launch at end of 2012, and it is important for us to continue to build on that foundation and further strengthen our connections within these markets.”
“This partnership with Simon Lyon and MacquarRe allows us to keep close contact with our current and potential clients, so we can better understand their needs, capture the opportunities available and grow together with them.”
Simon Lyon, Director of MacquarRe, welcomed the agreement. He said: “We are very excited at the prospect of partnering with Peak Re in the ANZ space and reconnecting with clients and friends in the industry. It is an opportune time to work with a team of well-respected reinsurance professionals who have a long term goal in supporting the growth in the Asia Pacific region.”
About Peak Re
Peak Re is headquartered in Hong Kong with an initial capital base of US$550 million. It is authorized by the Office of the Commissioner of Insurance of Hong Kong and is rated “A-” by A.M. Best, a leading international insurance industry credit rating agency.
The Company is backed by Fosun International Limited and the International Finance Corporation, member of the World Bank Group, who have respectively invested 85.1% and 14.9% in the Company.
Peak Re offers reinsurance treaty services covering a range of lines across Asia Pacific, tailor-making risk transfer and capital management vehicles to best fit clients’ needs.
