Black Kite Re Limited

Hong Kong-headquartered reinsurer Peak Re is expanding its third-party capital offerings as interest in insurance-linked securities (ILS) continues to gain momentum in Hong Kong, according to the company’s Head of Third-Party Capital, Iain Reynolds.

Following the successful completion of its second catastrophe bond, the $50 million Black Kite Re Limited (Series 2025-1), Franz-Josef Hahn, CEO of reinsurer Peak Re, told us the issuance showcases the “tremendous potential” that insurance-linked-securities (ILS) solutions can play in narrowing protection gaps across Asia.

Hong Kong’s Insurance Authority (IA) has welcomed the recent issuance of the latest catastrophe bond sponsored by Peak Re, the US $50 million Black Kite Re Limited (Series 2025-1) transaction, while also noting that the deal represents a sign of the maturity under its insurance-linked securities (ILS) regulatory regime.

Peak Re has hailed the structure of its latest catastrophe bond issuance, the $50 million Black Kite Re Limited (Series 2025-1) transaction, a move that the company’s CEO says reflects the firm’s broader mission to address Asia’s evolving catastrophe risks while fostering sustainable growth across the Asia-Pacific region.

Peak Re has now successfully priced its second catastrophe bond with the Black Kite Re Limited (Series 2025-1) issuance set to provide the targeted $50 million of retrocession across Japanese typhoon and earthquake risks on an industry-loss basis, as well as China and India earthquakes using a parametric trigger.

Hong Kong headquartered global reinsurance company Peak Re is back in the catastrophe bond market, with a target to secure $50 million or more in retrocession from this Black Kite Re Limited (Series 2025-1) issuance across a broader range of perils than its first cat bond covered.

Despite being home to a high frequency of natural catastrophes, re/insurance penetration remains low across much of Asia, but as risk accumulation and demand for protection rises, there’s an opportunity for the catastrophe bond market, according to Peak Re’s CEO, Franz-Josef Hahn.

After increasing the size of its reinsurance sidecar transaction in 2021, followed by the issuance of its first catastrophe bond earlier this year, Hong Kong domiciled reinsurer Peak Re aims to further leverage the insurance-linked securities (ILS) market to close the protection gap.

On announcing the completion of the second catastrophe bond issuance domiciled in Hong Kong, the Insurance Authority’s CEO Clement Cheung explained that insurance-linked securities (ILS) are a focus as they gain increasing attention.

Having recently completed the sponsorship of its first ever catastrophe bond, Hong Kong headquartered global reinsurer Peak Reinsurance Company (Peak Re) wants to play an important role in helping to develop Asia’s insurance-linked securities (ILS) market and building regional resilience.