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Peak Re plans to restart its third-party capital unit in 2027
The company said Peak Capital, its Bermuda-licensed third-party capital platform, could be used to build sidecar capacity starting with U.S. property growth.
Peak Reinsurance Company plans to “reignite” its third-party capital management strategy in 2027, Chief Underwriting Officer Philip Hough told Artemis at the Monte Carlo Rendez-vous event. The Hong Kong-based reinsurer said it wants to become more sophisticated in the third-party capital space and grow alongside partnerships with external investors.
Hough said Peak Re previously operated in insurance-linked securities (ILS) as a manager of third-party capital, including through an acquired Bermuda platform that has since been renamed Peak Capital. He added that the unit remains licensed in Bermuda and is ready to be activated relatively quickly.
Peak Re is developing plans for a potential small managed fund and aims to use sidecar capacity to support growth, with U.S. property identified as the likely starting point. Hough said the effort could expand across property and casualty and specialty lines over time.
On ILS execution, the reinsurer said Bermuda is a near-term option, while operating in Hong Kong is viewed as a longer-term vision and potential differentiator. Hough also indicated that building a track record is a prerequisite for any move into the strategy.