13 June 2017Insurance

Peak Re gets green light to set up Labuan branch in Malaysia

Hong Kong-based Peak Reinsurance Company has been granted approval by the Labuan Financial Services Authority to carry on general reinsurance business in and through the Labuan insurance market.

The company announced that Jasmine Miow, currently the director, South Asia, SEA and MENA markets, will be appointed as the principal officer of Labuan branch, based in Hong Kong.

Peak Re will continue to operate as one single platform with underwriting activities centralised through the Hong Kong head office, it added.

The approval enables Peak Re to have better access to the Malaysian reinsurance market, and will help provide an easier business process to Malaysian clients.

"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, chief executive officer of Peak Re.

"Our in-depth market knowledge allows us to support our clients with our wide range of reinsurance offerings. This approval from Labuan FSA will strengthen our presence in Malaysia and demonstrates our commitment to our Malaysian and ASEAN clients."

Today’s stories

The Hartford names new chief risk officer succeeding Rupp

WR Berkley sets up two Mexican companies; names heads

Validus to raise $250m through share offering

Loppnow returns to Lockton P&C from Willis Towers Watson

US commercial insurance prices stagnate

Chubb expands terrorism and war capacity by 50%

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
30 October 2017   Peak Re’s licence to establish a branch in Labuan, Malaysia, to write general insurance business in Malaysia has come “at just the right time”, Jasmine Miow, director of South Asia, SEA and MENA markets at Peak Re, told SIRC Today.
News
6 September 2017   Peak Reinsurance is mulling over a possible flotation in Hong Kong to support the reinsurer’s long-term growth and development, AM Best said in its Sept. 5 Best Week Asia-Pacific edition, citing Fosun International chief financial officer Robin Wang.
Insurance
31 July 2017   The robust expansion of Asian economies and domestic insurance markets will spur reinsurance activity in the region, Fitch Ratings said on July 31.