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Hong Kong's Peak Re upsizes reinsurance sidecar to US$77M

Peak Reinsurance Co. Ltd. renewed and upsized its Lion Rock Re Ltd. reinsurance sidecar to US$77 million.

Lion Rock Re will enter into an exclusive quota share arrangement with Peak Re to reinsure part of its global property reinsurance portfolio.

The initial Lion Rock Re, the first such transaction in Asia, launched in December 2018 and secured US$75 million of retrocession for the Hong Kong-based reinsurer.

Aon Securities LLC is the structuring and placement agent of the transaction.