Peak Re renames its new ILS platform

Peak Reinsurance Company, the Hong Kong-based reinsurer, has completed the 100 percent acquisition of the capital of Lutece Holdings and its subsidiary Lutece Investment Management.

The Bermuda-based ILS investment specialist is now a wholly owned subsidiary of Peak Re, with the acquired entities having been renamed as Peak Capital Holdings and Peak Capital, respectively.

Erik Manning, the founder of Lutece, and Peak Re’s managing director of underwriting, Lawrence Cheng, are co-CEOs of Peak Capital. Angus Ayliffe and Julia Henderson from the original Lutece team continue to be chief financial officer and chief underwriting officer of Peak Capital, respectively.