Works for both political peace (treaties between states) and personal reconciliation (friends or couples making up after a fight).
讲 here carries the older 'to negotiate / settle' sense (cf.
讲价 'haggle'); pair with
和 ('peace') and you have 'negotiate-into-peace'. Compare
和好 (héhǎo) — purely interpersonal 'make up';
议和 (yìhé) — strictly political 'negotiate peace'.