Peak Re sets up subsidiary in Bermuda

Peak Re has opened a new subsidiary in Bermuda, called Peak Reinsurance North America Ltd (Peak Re NA).

AM Best has assigned Peak Re NA an “A-” (Excellent) financial strength rating and an “a-” long-term credit rating with a stable outlook.

Under the leadership of Gene Zhang, the new entity will offer property & casualty reinsurance products.

The new venture is part of the Hong Kong reinsurer's strategy to further expand its international presence.