From Strength to Strength: Peak Re Expands its Role as a Trusted Reinsurance Partner in Emerging Asia

Mission to Close the Protection Gap

Headquartered in Hong Kong, Peak Reinsurance Company Limited (“Peak Re”) continues to solidify its position as a dedicated global reinsurer focused on serving the evolving needs of insurers in Emerging Asia. Offering Property and Casualty (P&C), Life and Health (L&H) reinsurance, as well as structured solutions, the Company has a clearly defined mission: to close insurance protection gaps—particularly those affecting the region’s burgeoning, yet underinsured, middle class.

Through product innovation, strategic collaboration, and the adoption of advanced analytics, Peak Re is helping insurers expand coverage, increase access, and improve the relevance of products across dynamic and developing markets in Asia.

Innovation and Market Expansion

Peak Re has earned a reputation for delivering tailored, forward-thinking solutions. Its product development has responded directly to unmet needs across the region. These include critical illness cover for juveniles and newborns in China, and substandard life insurance solutions for Southeast Asian markets that reward health-conscious behaviours such as managing blood pressure. The Company has also played a pivotal role in accelerating microinsurance growth—enhancing financial protection for lower-income segments.

“Peak Re has a strong track record of product innovation, collaboration and the use of advanced analytics and technology to better meet Emerging Asia’s consumer needs and expand its insurance markets.”

Recognising that consumer experience influences insurance uptake, Peak Re is investing in AI-driven underwriting processes to help insurers in India streamline and personalise health insurance offerings. These innovations reflect Peak Re’s belief in co-creating value with insurers, combining data, design, and distribution to bridge protection gaps.

Structured Solutions to Build Risk Capacity

In 2024, the Company expanded its Structured Solutions business to support both P&C and L&H clients with customised risk-sharing mechanisms. These solutions are designed to reduce financial volatility, optimise capital efficiency, and empower insurers to take on greater risk capacity.

Climate Risk: Enhancing Resilience in Emerging Asia

Climate risk continues to pose a serious challenge for Emerging Asia. Peak Re is actively involved in multiple initiatives that support better risk assessment and disaster resilience. Notably, it was the first reinsurer based in Hong Kong to issue a 144A catastrophe bond providing multi-year protection against typhoons in Japan. The Company also supports global and regional initiatives such as the Southeast Asia Disaster Risk Insurance Facility, and various natural catastrophe pools that safeguard vulnerable communities.

“Peak Re’s structured solutions are designed to reduce volatility for insurers and promote higher risk capacity allocations.”

Peak Re’s catastrophe modelling capabilities have been significantly enhanced through academic partnerships in Hong Kong and collaboration with meteorological institutions in Shanghai. These initiatives equip insurers with real-time tools—such as tropical cyclone activity trackers—for improved risk prediction and disaster preparedness.

Insight into Emerging Asia’s Middle Class

A cornerstone of Peak Re’s market engagement strategy is its annual Emerging Asia Middle-Class Consumer Survey, now in its third year. This extensive study offers insurers deep insight into evolving consumer behaviours, risk perceptions, and expectations—ultimately informing better product design.

The 2024 survey revealed that family remains central to financial decision-making across the region. Insurance is increasingly seen as a vital source of old-age care, second only to savings and investments. However, complexity in product understanding and purchasing remains a key barrier: 61% of respondents who dropped out of the buying process for home insurance cited complexity as the primary reason.

These findings offer valuable guidance for insurers seeking to improve product clarity, simplify customer journeys, and align coverage with cultural values and long-term financial planning needs.

Operational Excellence through Technology

Peak Re’s operational infrastructure is underpinned by advanced technologies, including optimised cloud solutions and machine learning, to ensure robust, scalable, and efficient service delivery. These tools support both product innovation and internal processes—enhancing the Company’s agility and reliability as a partner.

“Peak Re is highly active in helping the industry to better mitigate and assess climate risk across Emerging Asia.”

A Commitment to ESG and Capacity Building

Environmental, Social and Governance (ESG) principles are woven into Peak Re’s business model. ESG screening is applied to underwriting and investment decisions to ensure alignment with sustainability objectives. The Company’s Hong Kong headquarters have received LEED and WELL Gold certifications, and Peak Re continues to support community events and wellbeing initiatives for staff.

“Insurance was the second highest expected source of funding for old-age care after savings and investments.”

Peak Re Emerging Asia Middle-Class Consumer Survey

Investment in people remains a top priority. Staff receive comprehensive training in technical and soft skills, while clients benefit from Peak Re’s knowledge-sharing through workshops on underwriting, product development, and balance sheet optimisation. Its summer internship programme also helps shape future talent for the reinsurance industry.

“61% cited factors relating to complexity as reasons for dropping out of the insurance purchasing journey.”

Peak Re Emerging Asia Middle-Class Consumer Survey

Looking Ahead: Reinsurance with Purpose

Despite ongoing global challenges—from heightened climate risks and inflation to geopolitical instability—the reinsurance sector has remained resilient, underpinned by disciplined underwriting. According to Gallagher Re, insured losses from weather events in 2024 were 29% above the decadal average, underscoring the urgent need for sustainable, well-capitalised risk-sharing structures.

Peak Re’s unwavering commitment to Emerging Asia places it in a strong position to continue delivering impactful solutions. With a diversified and sustainable portfolio, a culture of collaboration, and an emphasis on innovation and governance, the Company is ready to support the next phase of growth and resilience in the region.

To access the Peak Re Emerging Asia Middle-Class Consumer Survey 2024, visit www.peak-re.com.