Peak Re CEO 'delighted' with new Moody's rating

Hong Kong-based  Peak Re's CEO Franz Josef Hahn is "delighted" with the reinsurer's new financial strength rating assigned by Moody's Investors Service, which cited its "solid capitalisation" and "good franchise in the Asian reinsurance market".

Peak Re has secured an A3 insurance financial strength rating (IFSR) and a stable outlook from Moody's.

Moody’s said its rationale for Peak Re's A3 IFSR is a reflection of the company’s "good franchise in the Asian reinsurance market, solid capitalisation, expanding product and geographic diversification and product mix with low reserving risks".

Peak Re was founded in 2012 to serve the reinsurance needs in Asia and around the globe. Over the years, it has expanded to serving clients in 73 countries and territories. The company has achieved steady earnings and profitable growth throughout its nearly eight years’ operation. According to ratings agency S&P, Peak Re currently ranks in the top 30 global reinsurers in terms of net written premiums.

Peak Re’s CEO Josef Hahn commented: “I am extremely delighted of this new rating for Peak Re. It is testimony to the years of hard work of our team. I appreciate the strong support by all of our stakeholders as from the humble beginning as a start-up company eight years ago.”