Peak Reinsurance Company Limited (Peak Re) has been named “Asian Reinsurer of the Year” at the 2020 Asian Banking and Finance Insurance Asia Awards, an award it has won for five consecutive years.
The award recognises Peak Re’s contributions to the sustainable development of the insurance industry and in helping society prosper by providing protection to people under the umbrella of insurance, a statement from the Hong Kong-based reinsurer said. Founded in 2012, Peak Re’s reinsurance platform has a geographical reach of close to 600 clients in over 70 countries.
Peak Re said that over the past 12 months, it has delivered a strong result, navigating through a year of frequent natural catastrophes and high financial market volatility. In 2020, Peak Re boosted its alternative capital markets capabilities with the acquisition of Bermuda-based ILS investment specialist, Lutece, and the formation of Peak Capital. In June, Moody’s Investors Service rated Peak Re for the first time, assigning it an A3 insurance financial strength rating with a stable outlook.
“We are very honoured to be recognised as the best Asian reinsurer for the fifth time in a row at this prestigious Asian insurance awards event,” said Peak Re CEO Franz Josef Hahn. “It is a true testimony to Peak Re’s team of more than 110 employees who consistently provide excellent services to our clients worldwide, working together towards a better future for the emerging middle-class society in Asia and around the globe.”