Peak Re P&C combined ratio improves to 84% in 2024
By Ryan Hewlett
April 30 - (The Insurer) - Hong Kong-based reinsurer Peak Re shaved 3.3 percentage points off its P&C combined ratio in 2024 as a strategic restructuring of the portfolio helped to drive improved underwriting results.
Peak Re posted a P&C combined ratio of 84.0% for 2024, an improvement from the 87.3% reported in 2023.
The reinsurer attributed the improvement to the restructuring of its P&C portfolio, which began in 2022. This included a shift to non-proportionate coverages and higher excess-of-loss layers, which helped to shield the carrier from elevated natural catastrophe losses in 2024.
Gross written premiums were stable year on year at $1.76 billion while reinsurance revenue decreased 25.6% to $1.16 billion.
Peak Re, led by CEO Franz-Josef Hahn, said it expanded its re-underwriting efforts over 2024 to enhance “portfolio resilience” and prepare for “market softening”, with a focus on global diversification and a balance between P&C and life and health business.
The life and health business, which also includes the company’s short-term health business, generated $405 million in GWP, representing 23% of the total reinsurance portfolio.
Peak Re reported a reinsurance service result of $144 million in 2024, down from $189 million in 2023.
Group net profit after tax of fell 6.5% to $187 million, the reinsurer’s second-best result in its 12-year history.
Related Articles
Coca Cola (KO) Q4 Earnings Preview: Look for the Upside in the AI Initiatives, not in the Revenue and the EPS
Coca-Cola (KO) enters its fourth-quarter 2025 earnings call tomorrow with significant momentum. However, a fundamental shift is occurring.
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion Tre
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
