Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered, Fosun backed global reinsurer, has announced the hiring of Andrew Souter, to the role of Director of Markets.
Souter, formerly of Willis Re and more recently of Pioneer Underwriters, who he joined in 2019, will be tasked with developing Peak Re’s clients’ portfolio in Global Markets and will also take on responsibility for developing the reinsurer’s Property & Casualty reinsurance business.
He joins Peak Re as Director of Markets with effect from early November 2020.
Souter has almost twenty years’ experience across reinsurance and capital market roles, with time spent internationally in Japan.
His career began at Markit as a capital markets analyst, before joining Bank of Tokyo-Mitsubishi UFJ in 2003 working in roles across trading and active capital management.
He joined Willis Re in 2009, where he held the dual responsibilities of head of the London International Insurance-linked Securities (ILS) practice group and head of the London Asia-Pacific non-marine reinsurance treaty team
Peak Re noted that Souter has “extensive experience across the full capital spectrum and a strong track record in utilising both traditional and ILS capacity.”
In his short stint at Pioneer Underwriters / Syndicate 1980, Souter was Head of Capital and a member of the executive management team. In the role he had responsibility for capital raising, including outwards reinsurance.
Franz Josef Hahn, Chief Executive Officer of Peak Re, commented on the news, “We are excited to have Andrew joining us. His extensive experience working with the capital markets and strong client relationships with global insurers will strengthen our ILS capabilities and will help us to continue to bring unique and innovative (re)insurance solutions to both our customers and investors as we expand further as an organisation.”