Peak Re Announces Transaction Completed to Sell a 13.1% Stake to Prudential Financial, Inc.

Peak Reinsurance Company Limited (“Peak Re”), a global reinsurer based in Hong Kong, announces today that Peak Reinsurance Holdings Limited (“Peak Re Holdings”), the sole and direct shareholder of Peak Re, has completed the previously announced transaction to sell a 13.1% stake in Peak Re Holdings, via an issuance of new shares, to a wholly-owned subsidiary of U.S.-headquartered Prudential Financial, Inc. (“PFI”).

The closing occurred following satisfaction of closing conditions including completion of regulatory procedures with relevant regulators. Fosun International Limited (00656.hk) (“Fosun”) and PFI now hold 86.9% and 13.1% of Peak Re via Peak Re Holdings, respectively.
Prudential Financial, Inc. (“PFI”), of the United States, and its subsidiaries are not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom.

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About Peak Re
Peak Re is headquartered in Hong Kong with shareholder funds of US$909.0 million as of June 30, 2017. It is authorized by the Insurance Authority of Hong Kong and rated “A-” by A.M. Best. Peak Re offers reinsurance services covering a range of lines across Asia Pacific, EMEA and Americas, tailor-making risk transfer and capital management solutions to best fit clients’ needs.

About Fosun
Fosun International Limited is a family focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656:HK) since 2007. Founded in 1992, Fosun’s total assets exceed RMB500 billion (c.US$75 billion). With its roots in China, and through technology and innovation, Fosun’s mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world.

 

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Edward Ion
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Helix Media Pte Ltd
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Henner Alms
Partner
Dr. Schanz, Alms & Company
Tel: +41 44 256 1082
Email: henner.alms@schanz-alms.com
Beverly Yau
Vice President
Corporate Communications
Peak Reinsurance Company Limited
Tel +852 3509 6529
M  +852 6970 7576
Email:  beverly@peak-re.com
Sherring Mak
Assistant Vice President
Corporate Communications
Peak Reinsurance Company Limited
Tel +852 3509 6545
M  +852 9271 6680
Email:  sherring@peak-re.com