Moody’s upgraded Peak Re Insurance Financial Strength Rating (IFSR) to A3 from Baa1, an improvement the Hong Kong-based reinsurer attributed to strong fundamentals underpinned by continued solid operating performance, disciplined underwriting and prudent risk management.
The rating agency also upgraded the secured subordinated debt rating on permanently subordinated guaranteed capital securities issued by Peak Re’s subsidiary Peak Re (BVI) Holding Limited to Baa2 (hyb) from Baa3 (hyb).
The company said the upgrade was in recognition of its “established effective corporate governance framework and strong operational independence.”
Peak Re added that it benefits from a strong and independent board of directors and a diverse ownership structure, further expanded in January 2026 through investments from funds managed by KKR and Quadrantis Capital as minority shareholders.
For the full year of 2025, Peak Re’s reinsurance revenue increased by 32.8% year-on-year to US$1.54 billion.
The company’s reinsurance services performance increased 12.7% year-on-year to US$162.9 million, driven by a 25% increase in total written premiums to US$2.2 billion.
Peak Re also reported net profit after tax of US$189.5 million in 2025, with net assets rising to US$1.68 billion.
Going forward, the company said it remains fully committed to service excellence, rigorous underwriting and strategic business growth.
Victor Kuk, CEO of Peak Re, added: “This A3 upgrade is a clear validation of Peak Re’s strong financial fundamentals, our resilient business model and our strong commitment to prudent risk management.
“We have systematically built a highly resilient, independent business characterized by robust capital agility and rigorous risk governance. This milestone solidifies our position as one of the world’s fastest growing reinsurers specializing in emerging markets.
“What’s more, this enhanced financial credibility translates directly into superior value for our clients. We are now better positioned to serve as a strategic partner, leveraging our strong capabilities to co-create tailored risk solutions and support our clients’ growth ambitions globally.”