Lutece Holdings Ltd

Peak Re said this morning that its previously announced acquisition of Bermuda-based insurance-linked securities (ILS) asset manager Lutece has now completed and the unit is being rebranded as Peak Capital.

Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered, Fosun backed global reinsurer, aims to become the Asian leader in insurance-linked securities (ILS) with its acquisition of Lutece, while also benefiting from a new foothold in the Bermuda market, CEO Franz Josef Hahn explained to Artemis.

Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered global reinsurer that is majority backed by Fosun International, said this morning it has entered into a definitive agreement to acquire Bermuda-based insurance-linked securities (ILS) asset manager Lutece, which it will rename Peak Capital.

Global markets and Latin America focused asset manager BTG Pactual Asset Management has completed its acquisition of Lutece Re Ltd., the Bermuda based reinsurance linked investments manager.

Lutece Investment Management Ltd., a retrocession and reinsurance focused specialist investment manager, has added another senior hire in Cornell Fox (who was previously at AlphaCat and Validus) who joined the firm in recent weeks in the role of Head of Investor Relations.

Retrocession and reinsurance focused specialist investment manager Lutece Investment Management Ltd. has hired Robert Jardine, formerly of Willis Towers Watson in Bermuda, as the firms new Head of Portfolio Analytics.

Global markets and Latin America focused asset manager BTG Pactual Asset Management has hired the team from retrocession and reinsurance focused specialist investment manager Lutece Investment Management Ltd.

Lutece Re, a collateralized retrocession underwriting start-up launched by insurance-linked securities (ILS) and reinsurance linked asset manager Lutece Investment Management Ltd. began underwriting retrocession at the renewals, but found that the rate environment was “still challenging.”

Lutece Holdings Ltd., the insurance-linked securities (ILS) and reinsurance linked investment fund vehicle start-up, is ready to begin underwriting a collateralized retrocession product at the January 1st 2018 renewals, with “a significant amount of committed capital” raised according to its founders.

A new insurance-linked securities (ILS) and reinsurance linked investment fund vehicle, named Lutece Holdings Ltd., is being set up and prepared for launch by experienced ILS structuring and broking specialist Erik Manning, Artemis understands.