Peak Reinsurance Company has received authorisation as a life and general reinsurer by the Monetary Authority of Singapore (MAS) to carry on reinsurance business in Singapore, effective from 2 November 2017.
In a statement, CEO of Peak Re, Mr Franz-Josef Hahn, said: “Asia is our core region. Peak Re has already built a sizable presence in Asia’s mature reinsurance markets including Southeast Asia. Singapore is an important market in Asia and we continue to see attractive business opportunities to support our clients. This authorisation from Monetary Authority of Singapore will allow Peak Re to strengthen our business relationships in Singapore and deepen our client penetration.”
As a result of the authorisation granted, Peak Re looks forward to serving the Singapore reinsurance market with easier access and business process.