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Peak Re gets Black Kite Re cat bond at top of raised target – $150m

Hong Kong headquartered global reinsurer Peak Reinsurance Company (Peak Re) has now secured $150 million of Japanese typhoon retrocession with its first ever catastrophe bond, as the Hong Kong domiciled Black Kite Re Limited (Series 2022-1) issuance priced near the top-end of raised guidance.

Peak Re entered the catastrophe bond market for the first time a fortnight ago, seeking $75 million of industry loss trigger based Japanese typhoon retrocessional reinsurance with its debut Black Kite Re cat bond deal.

It’s the first cat bond from Peak Re, it’s also only the second to be located in and issued out of Hong Kong since the special administrative region of China enacted its special purpose reinsurance vehicle and insurance-linked securities (ILS) regulations.


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