Peak Re
-
The buy-in can be seen as a “flip” bet on a rebound in appetite for carrier M&A. -
Majority shareholder Fosun will continue to hold the remaining 86.7% of shares.
-
The group reported “robust” growth in property reinsurance premium.
-
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.
-
The Hong Kong-based carrier expanded GWP by 7% to $2.3bn over the year.
-
The Chinese conglomerate was downgraded by Moody’s this week and faces liquidity pressure.
-
Iain Reynolds and Andy Souter will replace Kershaw as co-heads of P&C.
-
Asian reinsurer looks to expand as prices increase.
-
The experienced executive spent a decade in Asia Pacific and ILS roles at Willis Re.
-
The underwriter has over two decades of experience and worked in origination and analytics at NewRe.
-
The carrier’s solvency ratio falls 65 points to 367 percent.
-
The purchase follows the 2019 launch of the Lion Rock Re sidecar.
-
The fundraising is slightly up on the $75mn raised on the sidecar’s debut.
-
The Fosun-backed reinsurer’s underwriting MD says the vehicle offers diversifying risk amid a glut of US platforms.
-
Parent Fosun reports 21.5 percent premium growth at its Hong Kong-based reinsurance division.
-
The reinsurer’s net profit drops to $18.5mn but the combined ratio improves.
-
The Hong Kong-based sidecar was originally expected to generate $50mn of commitment from international investors.
-
Lion Rock Re has secured commitments of $75mn from third-party investors.
-
The executive will report to Franz Josef Hahn, CEO of the Fosun-backed reinsurer.
-
The Fosun-backed reinsurer's underwriting result improves marginally.
-
Tao will chair the board as Kaihong and Xi also join the reinsurer.
-
Satoshi Ichihara was previously Catlin’s representative in the country.
-
The co-founder returns to the reinsurer after five years at Manulife.
