Following the announcement that funds managed by KKR and Quadrantis Capital have entered into agreements to acquire minority stakes in Peak Re, AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) for the reinsurer and its subsidiaries, Peak Reinsurance AG and Peak Reinsurance North America Ltd.
Fosun International Limited, the current majority shareholder, has acquired the entire 13.07% stake in Peak Re Holdings previously held by Prudential Financial, Inc. This move temporarily increases Fosun’s ownership in Peak Re Holdings to nearly 100% before the closing of the transactions.
Upon completion, Fosun, KKR, and Quadrantis Capital are expected to hold approximately 86.71%, 11.27%, and 1.80% of Peak Re’s issued share capital, respectively. The transactions are subject to regulatory approval and other customary closing conditions.
KKR is a global investment firm providing alternative asset management, capital markets, and insurance solutions. AM Best notes that Peak Re may gain enhanced financial flexibility, investment expertise, and potential business growth opportunities through KKR’s involvement. Quadrantis Capital, based in Portugal, specializes in private equity and venture capital.
AM Best also said that Peak Re has demonstrated effective mitigation of potential contagion risk from Fosun’s weaker credit profile and expects the company to maintain its ring-fencing mechanism and continue strengthening corporate governance under the new shareholding structure.
The latest investments are expected to close in the fourth quarter of 2025, pending regulatory and customary approvals. Peak Re will remain primarily owned by Fosun International through Peak Reinsurance Holdings Limited.
According to statements from the companies, the new partnership is not anticipated to affect Peak Re’s financial stability, operations, leadership, or ratings. Peak Re said the investment will reinforce its commitment to serving global clients, supported by ring-fencing arrangements and corporate governance standards.
For the 2024 financial year, Peak Re reported its second-highest net profit in company history, with net profit reaching $120 million and gross written premiums totaling $2.3 billion. CEO Franz Josef Hahn (pictured above) attributed the results to disciplined underwriting and a diversified portfolio, emphasizing the company’s focus on sustainable growth and risk management.
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