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Hong Kong: Peak Re increases capital by US$100 mln

Source: Asia Insurance Review | Oct 2016

Hong Kong-headquartered Peak Reinsurance has said that its shareholders’ funds have increased by US$100 million to $816.9 million in time for the upcoming renewal season. 
   The capital increase of $100 million came from Peak Re’s largest shareholder, Fosun Group. Peak Re’s other shareholder, International Finance Corporation (IFC), a member of the World Bank Group, may participate in the capital increase at a later stage.
   The capital increase will serve to underpin the growing scale, scope and complexity of Peak Re. In the first half year of 2016, Peak Re grew its gross written premiums by 54% to $274.4 million, up from $177.7 million for the same period in 2015.
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