Peak Reinsurance (Peak Re) has named Philip Hough (pictured above) as chief underwriting officer, effective April 2, 2026. Hough will be based in Hong Kong and report directly to chief executive officer Franz-Josef Hahn.
In the role, Hough will lead Peak Re's property and casualty underwriting strategy and business processes. His responsibilities will include risk selection, portfolio optimization, and product development.
Hough brings more than 30 years of reinsurance experience to the position. He joins from Aspen Re, where he held several leadership roles including managing director for Asia-Pacific, global head of property reinsurance, and head of EMEA and LATAM. Prior to Aspen Re, Hough worked at Transatlantic Re in Paris.
Hahn said Hough's background aligns with Peak Re's plans to expand while maintaining underwriting discipline. "As we execute our growth plans, Philip will help sharpen our underwriting edge and strengthen how we partner with clients across markets," Hahn said.
Hough said he was drawn to Peak Re's approach to business. "The Company's entrepreneurial culture, client-first mindset, and commitment to sustainable performance resonate strongly with my own values," he said.
The appointment comes as Asia-Pacific continues to be one of the fastest-growing reinsurance markets globally. According to GlobalData, the region's reinsurance market is projected to grow at a compound annual rate of 4.8%, from an estimated US$54 billion last year to US$68.4 billion in 2029.
Mordor Intelligence also identifies Asia-Pacific as the fastest-growing reinsurance region, citing mature and fast-growing insurance markets, increased appetite for catastrophe risk underwriting, and regulatory developments such as risk-based capital regimes in Hong Kong.
The hire follows a period of corporate change at Peak Re. In November 2025, the company completed a US$350 million issuance of perpetual subordinated guaranteed capital securities at a coupon rate of 5.625%.
Hahn said at the time that the transaction "adds durable capital and strengthens our capacity to support clients through the cycle."
The capital raise followed a shift in ownership in October 2025, when funds managed by KKR and Quadrantis Capital acquired minority stakes after Prudential Financial exited its 13.07% interest. Fosun International remains the majority shareholder.
Peak Re holds an A- (Stable) rating from AM Best and a Baa1 (Positive) rating from Moody's.
