$686 Billion Private Equity KKR & Portugal-Based Quadrantis Capital to Buy 13.07% Minority Stake in Emerging Market Reinsurance Specialist Peak Reinsurance (Peak Re) from Prudential Financial, Fosun International Remains as Majority Shareholder with 86.71% Stake
23rd October | Hong Kong
Leading private equity firm KKR ($686 billion AUM) & Portugal-based Quadrantis Capital have announced to buy a combined 13.07% minority stake in emerging market reinsurance specialist Peak Reinsurance (Peak Re) from Prudential Financial, with Fosun International to remain as majority shareholder with 86.71% stake. Announcement (21/10/25): “Peak Reinsurance Company Limited (“Peak Re” or the “Company”) and KKR, a leading global investment firm, today announced that funds managed by KKR and Quadrantis Capital have entered into definitive agreements to acquire minority stakes in Peak Re via Peak Reinsurance Holdings Limited. Upon completion, KKR and Quadrantis Capital are expected to hold approximately 11.27% and approximately 1.80% of Peak Re’s issued share capital, respectively, with the remaining approximately 86.71% continuing to be held by the majority shareholder, Fosun International Limited. Prudential Financial, Inc. (“Prudential”), which indirectly held an approximate 13.07% minority stake, has divested its stake in Peak Re following the signing of definitive agreements by funds managed by KKR and Quadrantis Capital. This strategic partnership will reinforce Peak Re’s commitment to serving its global clientele, underpinned by strong ring-fencing arrangements and robust corporate governance standards, and is not anticipated to affect the Company’s financial stability, operations, leadership, or ratings. The investments by KKR and Quadrantis Capital into Peak Re are expected to close in Q4 of 2025, subject to customary closing conditions including regulatory approvals.” In 2025 April, Peak Reinsurance (Peak Re) issued a 2nd catastrophe bond with the issuance of $50 million 3-year note 8% maturity 2028 via Hong Kong-based Black Kite Re Limited (Series 2025-1). The $50 million bond provides retrocessional reinsurance protection with extended coverage for earthquake & typhoon risks (Japan) & parametric earthquake protection (China & India).
“ $686 Billion Private Equity KKR & Portugal-Based Quadrantis Capital to Buy 13.07% Minority Stake in Emerging Market Reinsurance Specialist Peak Reinsurance (Peak Re) from Prudential Financial, Fosun International Remains as Majority Shareholder with 86.71% Stake “
![](https://www.caproasia.com/wp-content/uploads/2025/08/Air-Charter-Service-728x90-1.png")
Franz-Josef Hahn, Chief Executive Officer of Peak Re: “Peak Re was established to support the growth and resilience of economies and communities in emerging markets across Asia and beyond. With KKR and Quadrantis Capital joining as new investors, we are further strengthening the platform that enables Peak Re to innovate, serve clients with excellence, and pursue quality growth globally. We would also like to thank Prudential for their support as a valued minority shareholder and partner over the years.”
Bing Gu, Managing Director at KKR: “As Asia emerges as a global growth engine for insurance and reinsurance, Peak Re is well-positioned to meet the needs of global clients with its established regional platform, disciplined underwriting approach, and strong governance. We look forward to drawing from our global network and experience in insurance and reinsurance, as well as operational expertise to strengthen Peak Re’s leading position in the region.”
João Rafael Koehler, Managing Partner at Quadrantis Capital: “Quadrantis Capital is delighted to join Peak Re as a minority investor. We are committed to constructive, value-driven partnerships.”
Peak Re – Peak Reinsurance Company Limited (“Peak Re” or the “Company”) is an emerging market reinsurance specialist with a global portfolio. Established to support the growth and stability of societies and communities in Asia and beyond. Established in 2012, Peak Re has grown rapidly to rank 27th among global reinsurance groups in terms of net reinsurance premiums written1, with a strong commitment to innovation and delivering value to our partners. With a financial strength rating of A- (Excellent) by A.M. Best and a strong capital base, Peak Re is a trusted partner for clients across Asia Pacific, Europe, the Middle East and the Americas.
KKR – KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.
Quadrantis Capital – Quadrantis Capital is a Portuguese investment management firm specializing in private equity and venture capital. The firm manages multiple investment funds with a focus on diversified, risk aware strategies and long term value creation.
Emerging Market Reinsurance Specialist Peak Reinsurance (Peak Re) Issues 2nd Catastrophe Bond with $50 Million 3-Year Note 8% Maturity 2028 via Hong Kong-Based Black Kite Re Limited (Series 2025-1), Bond Provides Retrocessional Reinsurance Protection with Extended Coverage for Earthquake & Typhoon Risks (Japan) & Parametric Earthquake Protection (China & India)
1st May 2025 – Emerging market reinsurance specialist Peak Reinsurance (Peak Re) has issued a 2nd catastrophe bond with the issuance of $50 million 3-year note 8% maturity 2028 via Hong Kong-based Black Kite Re Limited (Series 2025-1). The $50 million bond provides retrocessional reinsurance protection with extended coverage for earthquake & typhoon risks (Japan) & parametric earthquake protection (China & India). Announcement (29/4/25): “Peak Reinsurance Company Limited (“Peak Re”) is pleased to announce the successful issuance of the second catastrophe bond, via Black Kite Re Limited (Series 2025-1) (“Black Kite Re”), a special purpose insurer (“SPI”) in Hong Kong. Building on the success of its inaugural 2022 issuance, this transaction secures US$50 million in retrocessional reinsurance protection, extending coverage in Japan to earthquake and typhoon risks while introducing parametric earthquake protection for China and India. This issuance represents a significant advancement in the use of insurance-linked securities (ILS) to address Asia’s growing catastrophe risks. For the first time, India has been included in a 144A catastrophe bond, expanding risk transfer to one of the region’s fastest growing and most dynamic markets. It also marks the first multi-peril, multi-territory catastrophe bond issued by an Asian sponsor from an Asian domicile, underscoring Peak Re’s leadership in driving innovation across the region and addressing Asia’s evolving catastrophe risks. In addition, it is the first time a Hong Kong Special Purpose Insurer (SPI) has been reused for a second issuance, further highlighting the scalability and maturity of Hong Kong’s ILS framework … … The issuance reflects Peak Re’s ongoing mission to deliver tailored risk transfer solutions and strengthen resilience across Asia’s economies.” Profile – Peak Reinsurance Company Limited (“Peak Re” or the “Company”) is a Hong Kong-based global reinsurance company. Since commencing operations in 2012, the Company has grown steadily to rank 27th among global reinsurance groups in terms of net reinsurance premiums written. For the year ended 31 December 2023, Peak Re reported a reinsurance revenue of USD1.56 billion and a net profit of USD200 million. With net assets of USD1.28 billion as of 31 December 2023, Peak Re is rated A- (Excellent) by AM Best. Peak Re is authorised by the Hong Kong Insurance Authority under the Insurance Ordinance (Cap. 41). The Company offers both Property & Casualty (“P&C”) and Life & Health (“L&H”) reinsurance. It provides innovative and tailored reinsurance, risk management and capital management solutions to clients around the world. Fosun International Limited (00656.HK) and Prudential Financial, Inc. own approximately 87% and 13% of Peak Re, respectively, through Peak Reinsurance Holdings Limited.
Franz-Josef Hahn, CEO of Peak Re: “This transaction underscores our ability to pioneer innovative risk transfer solutions for the Asia-Pacific region. By combining developed markets like Japan with emerging markets such as India and China, we’ve created a unique diversifier that strengthens resilience for our clients and their communities.”
Iain Reynolds, Head of Third-Party Capital at Peak Re: “The Black Kite Re 2025-1 bond provides us with a unique structure that combines industry-loss-trigger coverage for Japanese earthquake and typhoon risks with parametric earthquake protection for China and India. Its transparency and diversification not only deliver effective risk transfer but also offer a compelling opportunity for investors to participate in Asia’s dynamic catastrophe risk market.”
Caproasia Users
- Manage $20 million to $30 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2026 Investment Day
- March - Hong Kong
- March - Singapore
- April - Hong Kong
- April - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
