Peak Re appoints new head of business operations

Peak Re appoints new head of business operations | Insurance Business Asia

Reinsurance

Peak Re appoints new head of business operations

New appointment aims to optimize business processes and expand the company’s market presence

Reinsurance

By
Kenneth Araullo

Hong Kong-based global reinsurer Peak Reinsurance Company (Peak Re) has announced the appointment of Peter Hämmerli (pictured above) as head of business operations, effective Aug. 26.

Hämmerli will report directly to Franz-Josef Hahn, CEO of Peak Re, and will oversee the company’s global business operations in property and casualty (P&C).

With more than 25 years of experience in reinsurance and consulting, Hämmerli brings significant operational expertise to his new role at Peak Re. His previous experience at Swiss Re, where he served as head of global shared service operations, provided him with strong skills in managing and optimizing business processes.

Peak Re explained that Hämmerli’s expertise is expected to play a crucial role as Peak Re continues to expand its footprint in the global reinsurance market. His understanding of reinsurance operations, combined with his recent consulting experience, will support the ongoing development of Peak Re’s business operations team.

Hahn said Hämmerli’s expertise and dedication would be key assets to the team as they work to strengthen operations and deliver value to clients.

Hämmerli also commented on his new position, expressing his eagerness to contribute to Peak Re’s growth and operational goals. He emphasized his interest in collaborating with the team to drive operational excellence.

In July, Peak Re announced the appointment of David Menezes as chief risk officer. Prior to his promotion, Menezes served as the deputy chief risk officer at Peak Re since September 2022.

Earlier this year, the company also reported record net profits for 2023, totaling $200 million despite the year’s significant market challenges.

This performance marks a notable improvement, supported by a turnaround in reinsurance underwriting and asset management, which drove the company’s total equity up by 14.3% from 2022, reaching $1.28 billion. The company also maintained a strong solvency ratio of 305%.

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