Hong Kong,  24 April 2025 – Peak Reinsurance Company Limited (“Peak Re”), a leading global reinsurer headquartered in Hong Kong, is pleased to announce that Moody’s Investors Service (“Moody’s”) has affirmed Peak Re’s Baa1 insurance financial strength rating (IFSR) and upgraded the outlook to positive from stable. This affirmation and outlook upgrade reflect Moody’s confidence in Peak Re’s strong financial performance and capital position, and effective governance.

Moody’s highlighted several key factors driving this decision:
•    Declining Contagion Risk from Majority Shareholder: Moody’s noted the reduced contagion risk from Fosun International Limited, Peak Re’s majority shareholder, due to effective ring-fencing measures, including an independent board with stringent oversight over related party transactions alongside independent capital management and financing activities. 
•    Strong Financial Performance and Capitalization: Peak Re has demonstrated solid profitability and robust capitalization. Moody’s expects these strengths to continue, supported by prudent underwriting practices, a diversification by line of business and by geography, recurring investment income and low equity investment exposure.
•    Improved Profitability and Resilience: Peak Re’s property and casualty (P&C) combined ratio of 87% in 2023 underscores its strong underwriting results, which are expected to remain solid in next 12 – 18 months.
•    Proactive Risk Management: Peak Re’s low equity investment exposure and well-structured retrocession programs ensure manageable impacts from market volatility, natural catastrophes, and economic uncertainty.

Franz Josef Hahn, CEO of Peak Re, commented:
“This positive outlook from Moody’s is a testament to Peak Re’s unwavering commitment to delivering value for our clients while maintaining financial strength and operational independence. We remain focused on responsible growth, innovation, and resilience in the face of evolving risks in the global reinsurance market.”

Moody’s Ratings Outlook
Moody’s has expressed confidence in the continued effectiveness of Peak Re’s governance and risk management framework. The positive outlook reflects the expectation that Peak Re’s financial position will remain strong over the next 12-18 months, with limited impact from external market conditions or contagion risks.

About Peak Re
Founded in 2012, Peak Re is a global reinsurer headquartered in Hong Kong, serving clients in Asia and across the globe. Backed by Fosun International Limited and Prudential Financial, Peak Re offers property and casualty reinsurance, life and health reinsurance, and structured solutions. With its focus on innovation, sustainability, and client-centric solutions, Peak Re has grown to become one of the top 30 global reinsurance groups by net premium[1].

For more information, visit www.peak-re.com.

[1] “S&P Global Ratings Top 40 Global Reinsurers and Reinsurers By Country: 2023”, S&P Global, 2023