Peak Re issues $50m catastrophe bond with Black Kite Re

This marks Peak Re’s second catastrophe bond issued in Hong Kong.

The Insurance Authority (IA) announced the issuance of a $50m (HK$388m) catastrophe bond by Peak Reinsurance Company Limited (Peak Re) on 30 April 2025. 

The bond, issued through special purpose insurer Black Kite Re Limited, covers earthquake risks in Mainland China, Japan, and India, as well as typhoon risks in Japan.

This marks Peak Re’s second catastrophe bond issued in Hong Kong using the same infrastructure, following the company's earlier ILS activity. 

The IA noted that the move underscores Hong Kong’s growing competitiveness and maturity as a hub for insurance-linked securities (ILS).

A spokesperson from the IA said the latest transaction reflects the expanding use of ILS to address a broader range of natural perils and highlights the sector’s potential to help close protection gaps in Asia.