Peak Re Appoints Clarence Wong as Chief Economist
Hong Kong, 21 October 2020 – Peak Reinsurance Company Limited (“Peak Re”), a global reinsurer based in Hong Kong, has appointed Mr. Clarence Wong as Chief Economist effective from 16 Nov 2020, highlighting Peak Re’s commitment to strengthen its service in Asia and around the globe.
Reporting directly to Mr. Franz Josef Hahn, Chief Executive Officer of Peak Re, Mr. Wong will be responsible for delivering strategic insights on economic, insurance and emerging risk to the company and its key stakeholders. He will also oversee the development of thought-leadership content for Peak Re.
Mr. Wong has more than two decades of experience in the insurance and reinsurance market. Prior to joining Peak Re, he worked at Swiss Re since 1999, where he last served as the Chief Economist, Asia and oversaw the company’s research initiatives around the Asia-Pacific region. Before that, he spent 9 years at HSBC’s economic research department, worked with PricewaterhouseCoopers in its management consulting arm, and in the R&D department of Hutchison Trading Ltd.
Commenting on the new appointment, Mr. Hahn said: “We are delighted to welcome Clarence on board, as we look to provide stronger analysis and insights for our key stakeholders.
While Asia’s insurance landscape continues to grow and evolve, it is important for us to understand the strategic implications of economic environments in which we operate and make better decisions by understanding the impact of our choices.
I am confident that Clarence will be a significant addition to our team, particularly with his wealth of knowledge and expertise in the global reinsurance markets.”
About Peak Re
Peak Reinsurance Company Limited (“Peak Re” or “the Company”) is authorised by the Insurance Authority of Hong Kong. It is one of the locally established reinsurance companies in Asia Pacific, underwriting both life and non-life reinsurance business.
With a shareholder equity of US$1.1 billion as of 31 December 2019, it enjoys an “A-” rating by A.M. Best and an “A3” rating by Moody’s with a stable outlook, and ranks among the top 30 global reinsurance groups in terms of net written premiums.*.
Peak Re strives to provide innovative and forward-looking reinsurance services for customers in the Asia Pacific, Europe, Middle East and Africa and the Americas. It tailors risk transfer and capital management solutions to best fit clients’ needs.
Fosun International Limited (00656.HK) and Prudential Financial, Inc. hold approximately 87% and 13% of Peak Re via Peak Reinsurance Holdings Limited, respectively.
* Source: S&P Top 40 Global Reinsurance Groups 2020