Peak Reinsurance Co. Ltd., the Hong Kong-based reinsurer that specializes in emerging markets, announced that Victor Kuk will become chief executive officer, effective April 20, 2026, subject to regulatory approval.
Kuk is succeeding Franz-Josef Hahn, co-founder and CEO of Peak Re, who will transition from his current role and assume the position of special adviser, continuing to provide strategic oversight until October 9, 2026.
Kuk is a seasoned insurance executive with over two decades of leadership experience across Asia. He joins Peak Re from Swiss Re, where he served as CEO of Swiss Re Asia Pte. Ltd. and was also the head of P&C Reinsurance Market Unit.
Kuk previously held senior roles including regional CEO for AXA Asia General Insurance and chief risk officer for QBE Asia Pacific and Latin America.
“On behalf of the board, we sincerely thank Franz for his visionary leadership and dedication that have been central to Peak Re’s success in becoming a globally respected reinsurer,” commented Vincent Li, chairman of the board of Peak Re. “We warmly welcome Mr. Victor Kuk as CEO; his exceptional leadership and experience will guide the company into its next chapter, accelerating profitable growth and global diversification.”
“I am very grateful to our clients, partners, dedicated colleagues and shareholders for their unwavering trust and long-term support over the past decade. Building Peak Re has been the most rewarding chapter of my career, and I am proud of the resilient platform and team we have created together,” according to Hahn. “I wish Victor and our talented team every success as they build on this foundation and propel Peak Re towards delivering even greater value in the years ahead.”
Experts say California could prove a testing ground for a carrot-and-stick approach to preventing the collapse of insurance markets as growing wildfires, hurricanes and other climate disasters shake up the industry in other states.
“The insurance market right now is in a fragile state,” said Mark Sektnan, vice president for state government relations at industry advocacy group American Property Casualty Insurance Association. “The decisions that the legislature makes through the laws that they pass could make California either appear to be a more encouraging market or less encouraging market for insurers wanting to come back.”
One recently introduced bill would require insurers to provide and renew policies in high-risk areas for homeowners that make their dwellings more fire-resilient or risk being suspended from doing business in California for five years. Many LA homeowners discovered they were severely underinsured and other legislation would order insurers to offer guaranteed replacement of a destroyed house.
A spokesperson for State Farm, California’s largest insurer by market share, declined to comment.
