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Reinsurer Peak Re acquires ILS investment specialist Lutece
Erik Manning, Lawrence Cheng head rebranded insurance-linked securities firm
5 May 2020 | The Asset

Peak Reinsurance Company (Peak Re), a Hong Kong-based global reinsurer, has completed the acquisition of 100% of the capital of Bermuda-based, insurance-linked securities (ILS) investment specialist Lutece Holdings and has rebranded it as Peak Capital Holdings and its subsidiary Lutece Investment Management as Peak Capital.

The completion of the transaction follows the fulfilment of customary closing conditions, including the receipt of regulatory approvals.

ILS veteran and Lutece founder Erik Manning and Peak Re’s managing director of underwriting Lawrence Cheng are co-chief executive officers of the new Peak Capital. Angus Ayliffe and Julia Henderson from Lutece will continue as Peak Capital’s chief financial officer and chief underwriting officer. 

“This is a team of top-tier professionals with strong ILS and structuring expertise, combined with in-depth insights into the Asian markets,” says Peak Re chief executive officer Franz Josef Hahn. “Peak Capital will create new opportunities to develop differentiated and innovative reinsurance products to both our customers and investors.”

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