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U.S.-based A.M. Best Co. Inc. has affirmed Hong Kong-based Peak Reinsurance Co. Ltd.’s financial strength rating of A- (Excellent) based on its solid capitalization of $1.3 billion, Asia Insurance Review reported. However, A.M. Best has revised its outlook for Peak Re to “Negative” from “Stable” over concerns of contagion risks associated with its major shareholder, Fosun International Ltd., which faces capital market and macroeconomic headwinds.