Peak Re Makes Senior Appointments in Hong Kong
Peak Reinsurance Company Ltd., a Hong Kong reinsurer backed by Fosun International Limited and International Finance Corporation, announced four appointments to strengthen its underwriting and research capabilities in the Asia Pacific region. These new hires are part of Peak Re’s strategic plan to bring world-class reinsurance experience to the region, the company said. Lay-Hui Lim joins Peak Re as Senior Vice President (SVP) of Underwriting and will lead the company’s marine business.
Lloyd’s Register Reports Strong Performance
In his report on the accounts for the year ended June 30, 2008, David Moorhouse, Chairman of Lloyd’s Register, has announced that Group income rose by 19.6% to $893m (2006/07: $747.5m) with a marginal increase in surplus before tax generally in line with the budgeted target. The budgeted surplus for the year allowed for a significant increase in spending on projects and personnel in support of the Group’s medium and long term business objectives. “Following very strong growth in 2007, I am pleased to be able to report another year of strong underlying financial performance in 2008. While the recent global financial chaos had little effect on our results for the year to June 2008, it is clear that next year will pose a significant challenge to the Group.