Following the successful completion of its second catastrophe bond, the $50 million Black Kite Re Limited (Series 2025-1), Franz-Josef Hahn, CEO of reinsurer Peak Re, told us the issuance showcases the “tremendous potential” that insurance-linked-securities (ILS) solutions can play in narrowing protection gaps across Asia.
The Hong Kong headquartered global reinsurer returned to the catastrophe bond market in April, initially aiming to secure $50 million or more in retrocessional reinsurance from this Black Kite Re 2025-1 deal.
In late April, we reported that Peak Re had managed to successfully secure the targeted $50 million size, while the pricing of the notes were finalised at the upper-end of the initial guidance.
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