Peak Re takes aim at ‘super opportunity’ after $250 mln bond issue

CEO Hahn notes hardening prices in both property and casualty businesses and says retained profits must improve before company, majority owned by Fosun group, considers an IPO.

Peak Reinsurance, the Hong Kong reinsurer that just raised $250 million from a bond sale, is positioning for underwriting opportunities as prices harden in the casualty and property lines of business after years of weakness.

Destruction caused by natural calamities such as storms in the US and Japan as well as earthquakes and floods elsewhere in Asia are spurring demand for reinsurance from insurers seeking to mitigate risks. A knock-on effect from the trend of rising reinsurance prices, which began in the US, is now seen to be spilling over across the world.

While the property and casualty lines usually have very different business cycles, an...

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