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25 February 2018

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Prudential Financial to take 13.1% of Peak Re

John Hewitt Jones 13 February 2018

US insurer Prudential Financial (PFI) has signed an agreement to purchase a minority stake in Peak Re, ending a months-long process.

The Hong Kong reinsurer said following the deal its current majority owner Fosun would own 86.9 percent of Peak Re and PFI would hold 13.1 percent.

Peak Re called the transaction a "further step in the long-term strategic partnership" between Fosun and PFI, which already jointly own and operate a life insurance joint venture in China.

It put no...

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