Peak Reinsurance Co. Ltd., the Hong Kong-based reinsurer, announced that the company has been authorized to write life and general reinsurance business in Singapore, effective Nov. 2, 2017.
“Asia is our core region. Peak Re has already built a sizable presence in Asia’s mature reinsurance markets including South-East Asia,” said Franz-Josef Hahn, chief executive officer of Peak Re.
“Singapore is an important market in Asia and we continue to see attractive business opportunities to support our clients,” he added. “This authorization from Monetary Authority of Singapore will allow Peak Re to strengthen our business relationships in Singapore and deepen our client penetration.”
Peak Re is backed by Fosun International Ltd. and International Finance Corp., a member of the World Bank Group, which have respectively invested 86.93 percent and 13.07 percent in the company. Peak Re offers reinsurance services covering a range of lines across Asia Pacific, EMEA and the Americas.
Source: Peak Re
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