A.M. Best affirms Peak Re’s “excellent” ratings
Ratings company A.M. Best has affirmed its “A-” ratings for Peak Reinsurance Company Ltd and its subsidiary Peak Reinsurance AG.
The reinsurer introduced in a press assertion that A.M. Best has maintained its monetary power ratings of “A-“ (Excellent) and issuer credit ratings of “a-,” each with a secure outlook.
According to A.M. Best: “The ratings reflect Peak Re’s balance sheet strength, which A.M. Best categorises as very strong, as well as its adequate operating performance, neutral business profile, and appropriate enterprise risk management.”
Peak Re believes that A.M. Best’s ratings, that are endorsed by the European Union, display its persevering with confidence within the firm’s monetary power and talent to fulfill its treaty and contract obligations.
Peak Re has achieved a number of vital milestones in 2017, together with the approval of its licence to function a common reinsurance enterprise by the Labuan Financial Services Authority (Labuan FSA) in Malaysia. It was additionally authorised as a life and common reinsurer by the Monetary Authority of Singapore.
In addition, the reinsurer was awarded “Asian Reinsurer of the Year” for the second 12 months in a row by Asian Banking and Finance journal and is now ranked 43rd on A.M. Best’s annual rating of the Top 50 Global Reinsurance Groups, measured by gross written premium.
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