Peak Re gets approval to operate in Singapore

Firm gains access to major reinsurance clients in critical Asian market

Peak Re gets approval to operate in Singapore

Insurance News

By Gabriel Olano

Peak Reinsurance Company (Peak Re) has received approval from the Monetary Authority of Singapore (MAS) to operate as a life and general reinsurer in the Singaporean market.

With the licence granted by the MAS, Peak Re will be able to simplify its business processes and have easier access to clients in Singapore.

“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, CEO of Peak Re. “Singapore is an important market in Asia and we continue to see attractive business opportunities to support our clients.

“This authorisation 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 mainland Chinese conglomerate Fosun International Group and offers reinsurance services in various lines in Asia-Pacific, EMEA and the Americas markets, as well as tailor-made risk transfer and capital management solutions.

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