ICMIF Supporting Member Peak Re has been recognised for excellence at the Insurance Asia Awards 2024 in two categories: Asian Reinsurer of the Year – Gold, and CEO of the Year for Franz-Josef Hahn.
Peak Re says these prestigious awards underscore its commitment to innovation and agility in a year marked by economic uncertainties and natural disasters. Despite these challenges, the company achieved its best-ever annual net profit of USD 200 million in 2023, based on the latest IFRS 9 and IFRS 17 accounting standards.
Key highlights of Peak Re’s achievements include:
- Settling 86% of reinsurance claims within ten days on average between 2021 and 2023, demonstrating our dedication to efficient and responsive customer service.
- Enhancing its IT infrastructure and fostering a multicultural and inclusive workforce, with 45% of functional leadership roles occupied by women.
- Sponsoring Hong Kong’s first 144A catastrophe bond in 2022, providing substantial protection against typhoon risks in Japan.
Meanwhile, the CEO of the Year award highlighted Franz-Josef Hahn’s transformative leadership at Peak Re. Co-founding the company in 2012, Mr Hahn (pictured) has been instrumental in steering it through a decade marked by numerous industry upheavals, including the pandemic and rising natural catastrophe losses. Under his guidance, Peak Re says it has not only survived these challenges but has thrived, achieving record-breaking financial outcomes.
“I am deeply honoured by this recognition and grateful to the judges and organisers. Our success is built on the unwavering trust and support of our dedicated team and loyal clients. This award inspires us to continue pushing boundaries and delivering exceptional value.” said Franz-Josef Hahn, CEO of Peak Re.
