Clifford Chance advises Peak Re on its capital issuance under new Hong Kong regime
26 November 2025
Clifford Chance advises Peak Re on its capital issuance under new Hong Kong regime
Global law firm Clifford Chance has advised global reinsurer Peak Reinsurance Company Limited (Peak Re) on the successful issuance of US$350 million Perpetual Subordinated Guaranteed Capital Securities by Peak Re (BVI) Holding Limited, unconditionally and irrevocably guaranteed by Peak Re.
This transaction marks a significant milestone for the Hong Kong insurance sector, representing the first public issuance of regulatory capital by Peak Re under the new Insurance (Valuation and Capital) Rules, following the introduction of updated Risk-based Capital (RBC) requirements for insurers on 1 July 2024. These new rules align Hong Kong with international standards and require (re)insurers to hold enough capital to match their risk profiles.
Lead partner Mark Chan said, "We are delighted to have worked closely with Peak Re and the joint lead managers to help bring this important deal to market. This highlights our expertise in the insurance sector advising Hong Kong (re)insurers under both the Insurance (Group Capital) Rules and the Insurance (Valuation and Capital) Rules, respectively."
Mark was supported by counsel Torrance Shi, senior associate George Mok, associates Louis Yee and Christine Chan, and trainee solicitor Kristy Lam.
高伟绅就鼎睿再保险在香港新规下的资本发行提供法律服务
国际领先律师事务所高伟绅就 Peak Re (BVI) Holding Limited 成功发行由鼎睿再保险有限公司（鼎睿再保险）无条件且不可撤销地担保的3.5亿美元永续次级担保资本证券提供法律服务。
此次交易在香港保险业具有里程碑意义，这是2024年7月1日保险业引入风险为本资本（RBC）新规定后鼎睿再保险首次根据新版《保险业（估值及资本）规则》公开发行受监管资本。新规使香港与国际标准接轨，要求保险公司和再保险公司持有与风险状况相匹配的充足资本。
牵头合伙人陈方中(Mark Chan)表示："我们很高兴能与鼎睿再保险及联席牵头经办人紧密合作，共同促成这项重要交易。这彰显了我们在保险领域的专业实力，我们能够分别依据《保险业（集团资本）规则》和《保险业（估值及资本）规则》为香港保险公司和再保险公司提供法律服务。”
本交易由合伙人陈方中(Mark Chan)牵头，团队成员包括施超(Torrance Shi)、莫秉杰(George Mok)、余立澄(Louis Yee)、陈家颖(Christine Chan)和林颖心(Kristy Lam)。
