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Press Release From Independent Source

Peak Re, Fosun & NAGICO to support restoration in Caribbean

- after devastating impact of Hurricane Irma
September 14th, 2017 | Tags: hurricane Irma Nagico devastation Insurance Peak Re Fosun
An area of Road Town, Virgin Islands following Hurricane Irma. Photo: VINO
ROAD TOWN, Tortola, VI- At this time of unprecedented devastation across a wide swath of the Caribbean, and with another powerful storm looking as though it might reprise the damage and disruption of Hurricane Irma, our thoughts and prayers are with the people affected in this terrible event, and those who are safe elsewhere worrying about their loved ones in the islands.

As a major shareholder of Nagico, our particular thoughts lie with our colleagues, their clients and the brokers and agents who support those communities shattered by Hurricane Irma. We are committed to working with partners, both within our insurance community and without, to help rebuild lives and communities as soon as possible.

To that end, we are able to announce that we have support from our major shareholder Fosun International, who will work together with Peak Re and Nagico to help get people, families and communities back on their feet. Commenting on this Chairman of Fosun, Mr Guo Guangchang said, “We are saddened by the destruction that Hurricane Irma has wrought on the Caribbean Island. We want to assure the communities of the island of our commitment and support from Fosun Group and Fosun Foundation”.

Franz-Josef Hahn, CEO of Peak Reinsurance Company Limited in Hong Kong said “In the coming days, and as communication links with those in the St Maarten and other islands is re-established, we will work to formulate plans in conjunction with interested parties, to begin the process of rebuilding. We are committed to playing our part in the community of the St Maarten and the wider Caribbean, and in supporting its recovery and long term growth.

About Peak Re

Peak Re is headquartered in Hong Kong with shareholder funds of US$909.0 million as of 30th June 2017. It is authorised by the Office of the Commissioner of Insurance (took over by Insurance Authority from 26th June 2017) and is rated “A-” by A.M. Best, a leading international insurance industry credit rating agency. The Company is backed by Fosun International Limited (HK.656) and International Finance Corporation, a member of the World Bank Group, which have respectively invested 86.93% and 13.07% in the Company. Peak Re offers reinsurance services covering a range of lines across Asia Pacific, EMEA and the Americas, tailor-making risk transfer and capital management solutions to best fit clients’ needs.

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