Wednesday, December 13, 2017

Peak Re makes good underwriting progress in 2014

Peak Re further grew its franchise in its home markets in Asia Pacific and started to build a global footprint in 2014.

The expansion translated into a broader diversification of the underwriting portfolio and an increase in cost-efficiency with gross written premiums almost tripling to US$288 million.

The company’s administrative expense ratio declined by almost 20% to 9% and after-tax profits came in at US$42 million.

Franz Hahn (pictured), Peak Re’s chief executive said: “We continued to grow our franchise in our home markets in Asia Pacific and started to build a sizeable portfolio in EMEA and the Americas. Furthermore, we added credit and surety and life reinsurance to our suite of offerings. As a result our top line expanded considerably. More importantly, only in our second year in business, we were able to turn in a technical underwriting profit of US$ 15 million.”

Net written premiums expanded at 188%, from US$97 million in 2013 to US$279.7 million in 2014.

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