An established reinsurance franchise in Asia and a robust capital position will underpin the global expansion of Peak Reinsurance Co. Ltd. (Peak Re) over the next two years. The reinsurer's ability to preserve underwriting discipline amid growth remains key to its sustainable expansion. We consider Peak Re to be delinked and insulated from its majority shareholder, Fosun International Ltd., due to its high degree of operational autonomy and strong governance. We assigned our'A-'long-term issuer credit and financial strength ratings to Peak Re. The stable rating outlook reflects our view that the Hong Kong-based reinsurer will maintain its strong competitive position and capital adequacy above our 99.95% confidence level as it pursues growth initiatives over the next two years.
