Hong Kong-based global reinsurer, Peak Reinsurance Company (Peak Re), has announced the appointment of Peter Hämmerli as the new head of business operations, effective August 26.
Reporting directly to CEO Franz-Josef Hahn, Hämmerli will take charge of the company’s worldwide business operations within the property and casualty (P&C) sector.
Hämmerli joins Peak Re with over 25 years of experience in reinsurance and consulting, bringing a wealth of operational knowledge to his new role. His previous position as head of global shared service operations at Swiss Re equipped him with the expertise to manage and optimize complex business processes.
Peak Re expressed confidence that Hämmerli’s skills will be instrumental in advancing the company’s expansion in the global reinsurance market. His deep understanding of reinsurance operations, paired with recent consulting experience, is expected to further enhance the development of Peak Re’s business operations team.
Commenting on his new role, Hämmerli shared his enthusiasm for contributing to Peak Re’s growth and operational objectives, emphasizing his commitment to fostering collaboration within the team to achieve operational excellence.
This appointment follows the recent promotion of David Menezes to chief risk officer in July. Menezes, who had served as deputy chief risk officer since September 2022, stepped into the role as part of the company’s broader strategy to strengthen its leadership team.
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%.
