Peak Re earns Moody’s upgrade to A3 on strong risk management and performance

Global reinsurer Peak Re has secured an upgrade to its Insurance Financial Strength Rating (IFSR) to A3 from Baa1 from Moody’s, reflecting consistent operating performance, disciplined underwriting and prudent risk management, alongside the benefits of its diversified ownership structure.

Moody’s has also upgraded the backed subordinated debt rating of the perpetual subordinated guaranteed capital securities issued by Peak Re’s subsidiary, Peak Re (BVI) Holding to Baa2 (hyb) from Baa3 (hyb). The outlook is stable.

Moody’s highlighted that, in 2025, Peak Re delivered a property and casualty combined ratio of 87.9% and maintained a robust capitalisation with a Hong Kong risk-based capital ratio of approximately 190% as of year-end 2025, exceeding regulatory requirements.

Moody’s noted Peak Re’s strong and independent board and diversified ownership structure as strengths.

Victor Kuk (pictured), recently appointed CEO of Peak Re, said: “We have systematically engineered a highly resilient, independent enterprise, characterised by solid capital agility and stringent risk governance. This milestone solidifies our stature as one of the fastest-growing global reinsurers specialising in emerging markets. 

“More importantly, this enhanced financial credibility directly translates into superior value for our clients.”

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