Peak Capital
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Across a wide range of different ILS strategies, there are a number of managers that have failed to gain critical mass in the past 5 years. -
Iain Reynolds and Andy Souter will replace Kershaw as co-heads of P&C.
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This suggests the Asia-focused sidecar has grown nearly 40% for 2021.
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The reinsurer raised $16mn from a new sidecar issuance.
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Asian reinsurer looks to expand as prices increase.
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The experienced executive spent a decade in Asia Pacific and ILS roles at Willis Re.
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The underwriter has over two decades of experience and worked in origination and analytics at NewRe.
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The issuance follows renewal of the Hong Kong-based reinsurer’s sidecar at $77mn in January.
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Peak Capital will continue to focus on its flagship retro strategy as it develops fresh offerings.
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Peak Re was able to increase sidecar cover for its global property reinsurance risk portfolio amid stalling ILS capacity this renewal.
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Lawrence Cheng, underwriting managing director of Peak Re, says reinsurers could have done more to foresee Jebi loss creep.
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