Peak Re completes Nagico buy-in

Hong-Kong based reinsurer Peak Re has completed a deal to acquire a
50 percent stake in Caribbean insurance group Nagico Holdings.
Peak Re, which is 85 percent owned by Fosun, announced the deal
for the St Maarten-headquartered $142mn (£109mn) personal and
commercial lines premium insurer in July last year.
It said at the time that the move was part of its strategy of
venturing into non-Asian markets to diversify its portfolio. The
company had an Asia Pacific focus when it...