Peak Re
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The carrier’s profit fell 22.2% year on year during the six-month period. -
The carrier shifted away from quota share in a bid to control cat volatility.
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The Hong Kong-based carrier expanded GWP by 7% to $2.3bn over the year.
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The Chinese conglomerate was downgraded by Moody’s this week and faces liquidity pressure.
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Iain Reynolds and Andy Souter will replace Kershaw as co-heads of P&C.
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Asian reinsurer looks to expand as prices increase.
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The experienced executive spent a decade in Asia Pacific and ILS roles at Willis Re.
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The underwriter has over two decades of experience and worked in origination and analytics at NewRe.
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The carrier’s solvency ratio falls 65 points to 367 percent.
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The purchase follows the 2019 launch of the Lion Rock Re sidecar.
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The fundraising is slightly up on the $75mn raised on the sidecar’s debut.
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The Fosun-backed reinsurer’s underwriting MD says the vehicle offers diversifying risk amid a glut of US platforms.
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