Peak Re makes first underwriting profit but overall profits fall 60%
In 2014 Hong Kong-based reinsurer Peak Re made a technical underwriting profit of $15m (£9.9m) despite its overall profits falling from $102.9m in 2013 to $41.6m last year.
The reinsurer's combined ratio improved to 92.2% as the expense ratio dropped 20%.
Peak Re said the 2013 result had been as a result of an exceptional investment return, although it still managed a 7
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