Peak Re hit by investment volatility

A challenging investment performance hit overall profits at Peak Re
in 2016, even as underwriting earnings increased by a third.
According to a statement from the Fosun-owned reinsurer today
net profits fell 88 percent to $7mn last year.
However, the combined ratio was broadly flat at 97.6 percent,
after taking on just 0.8 percentage points year-on-year, to yield a
$12mn underwriting profit.
Rapid growth continued at the business, which launched in 2012,
with gross written premiums up by 20 perc