Jul 2025
Conyers advised Peak Reinsurance Company Limited (“Peak Re”) on the structuring, establishment and licensing of its wholly-owned subsidiary, Peak Reinsurance North American Ltd. (“Peak Re NA”) as a Class 3B reinsurer.
Peak Re is a Hong Kong based global reinsurance company ranked 27th among global reinsurance groups in terms of net written reinsurance premiums per S&P 2023 global reinsurers ranking report. The formation of Peak Re NA as a Bermuda-based reinsurer focusing on underwriting casualty reinsurance serves as Peak Re’s entry into the Bermuda reinsurance market.
Recently, AM Best assigned Peak Re NA a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-”, with a stable outlook.
Conyers’ role in this matter comprised of advising on all aspects of the legal and regulatory requirements in connection with the formation and licensing of Peak Re NA and supporting its corresponding application to AM Best.
Director Elizabeth Denman, Director Chiara Nannini, Counsel Sarah Lusher and Associate Nicole Yearwood of Conyers’ Bermuda insurance team advised on the matter.