Peak Re boosts capital markets unit with ex-Willis Re, Pioneer hire

Hong Kong-based reinsurer Peak Re has bolstered its global markets leadership by hiring an experienced executive from Pioneer Underwriters, who previously served as head of London APAC and ILS practice Group at Willis Re.

Andrew Souter has joined Peak Re as director of markets with effect from early November 2020.

In his role, he will oversee the clients’ portfolio in global markets and will be responsible for developing the company’s property & casualty reinsurance business.

Souter has 18 years of experience in the finance industry, during which he has worked closely with global insurers as well as Japanese and APAC re/insurers.

He joins Peak Re from Pioneer Underwriters/ Syndicate 1980 where he was head of capital and a member of the executive management team, responsible for capital raising for Pioneer Underwriters/Syndicate 1980, including outwards reinsurance.

Prior to Pioneer, Souter spent a decade with Willis Re, where he was concurrently head of London APAC team and head of ILS practice group for the international division.

Franz Josef Hahn, chief executive officer of Peak Re, said: "We are excited to have Andrew joining us. His extensive experience working with the capital markets and strong client relationships with global insurers will strengthen our ILS capabilities and will help us to continue to bring unique and innovative (re)insurance solutions to both our customers and investors as we expand further as an organisation."