Sunday, July 23, 2017

Peak Re approved to open Labuan branch

Peak Re, the Hong Kong-based reinsurer, is set open a branch in Labuan after winning approval-in-principle by the Labuan Financial Services Authority.

Jasmine Miow, currently responsible for South Asia, South-East Asia and Middle East/North Africa markets, will be appointed as the principal officer of the branch, based in Hong Kong.

“As one of the world’s fastest growing areas of economic cooperation, Asean, and in particular Malaysia, plays an important role in Peak Re’s business strategy,” said Franz-Josef Hahn, Peak Re’s chief executive.

With the approval granted, Peak Re will enjoy better access to the Malaysian reinsurance market, putting it in a better position to provide an easier business process to Malaysian clients.

Peak Re says that it will continue to operate as a single platform with underwriting activities centralised through Hong Kong head office.

 

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