Peak Reinsurance lauded as Asian Reinsurer of the Year - Gold at Insurance Asia Awards 2025

The company reported a net profit after tax of US$187m, achieving a stellar performance amidst a challenging economic environment.

Global reinsurance company Peak Reinsurance (Peak Re) was recognised as the Asian Reinsurer of the Year - Gold at the coveted Insurance Asia Awards 2025 for consistently demonstrating resilience, innovation, and client-centricity in the past year, which has solidified its position as a trusted partner in the reinsurance industry.

In 2024, the company achieved remarkable financial performance despite a challenging economic and market environment. It reported a net profit of US$187m—its second-highest result after the record US$200m in 2023. Gross written premiums (GWP) also remained stable at US$1.76b, reflecting disciplined underwriting and a robust portfolio diversification strategy.

Moreover, Peak Re continued to lead the industry with innovative solutions tailored to the evolving needs of its clients. In the same year, it expanded its Structured Solutions offering to provide capital-efficient and customised reinsurance for both Property & Casualty and Life & Health (L&H) clients. This approach bridged the gap between traditional and innovative reinsurance, enabling cedants to better manage risks and capital requirements.

It introduced tailored L&H products such as juvenile critical illness coverage, medical reimbursement for hypertension, and hospice care solutions in China. In Southeast Asia, Peak Re collaborated with local insurers to launch substandard life insurance products that incentivise policyholders to adopt healthier lifestyles.

The company also achieved a major milestone by establishing a branch in India’s GIFT City International Financial Services Centre. This transition from a cross-border reinsurer to a locally licensed entity underscores its commitment to supporting India’s rapidly growing economy and addressing the protection needs of its emerging middle class.

Meanwhile, Peak Re’s client-centric approach became evident in its efficient claims management, with 80% of claims settled within 10 days on average between 2021 and 2024. The company’s investments in IT infrastructure and data analytics further enhanced its ability to support clients in navigating complex risks, particularly those related to secondary perils like floods and hailstorms.

Its inclusive and multicultural workforce also reflected its commitment to diversity, with women holding 44% of leadership roles by the end of 2024. This focus on inclusion strengthened the company’s ability to understand and meet the diverse needs of its clients across Asia.

“Peak Re’s 2024 achievements highlight its unwavering commitment to innovation, client-centricity, and sustainable growth in Asia’s emerging markets. By addressing the unique needs of the region’s middle class and fostering local market development, Peak Re continues to set new benchmarks in the reinsurance industry,” the company said.

Now in its 10th year, the Insurance Asia Awards honours companies, initiatives, and leaders that have achieved outstanding milestones, set new benchmarks, and transformed the insurance landscape through cutting-edge innovation.

The Insurance Asia Awards is presented by Insurance Asia Magazine. To view the full list of winners, click here. If you want to join the 2026 awards programme and be acclaimed for your company's significant impact on its customers with exceptional products, services, and solutions in the insurance industry, please contact Julie Anne Nuñez-Difuntorum at [email protected].