Global investment firm KKR and Quadrantis Capital have agreed to acquire minority stakes in Hong Kong-based Peak Reinsurance.

Upon completion of the deal, KKR will hold approximately 11.27% of Peak Re’s issued share capital while Quadrantis will acquire 1.80%. The remaining 86.71% will continue to be held by the majority shareholder, Fosun International.

Prudential Financial, which indirectly held a 13.07% minority stake, has divested its holding in Peak Re following the signing of definitive agreements by funds managed by KKR and Quadrantis.

Peak Re is an emerging-market reinsurance specialist with a global portfolio. Established in 2012, Peak Re has grown rapidly to rank 27th among global reinsurance groups in terms of net reinsurance premiums written.

The strategic partnership will reinforce Peak Re's commitment to serving its global clientele, underpinned by strong ring-fencing arrangements and robust corporate governance standards, according to a joint statement. It is not expected to affect the company’s financial stability, operations, leadership, or ratings.

Commenting on the deal, Peak Re chief executive officer Franz-Josef Hahn says: “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.”

KKR managing director Bing Gu adds: “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.”

The deal is expected to close in the fourth of 2025, subject to regulatory approvals and other customary closing conditions.