Pacific Life Re, the global reinsurance business of Pacific Life, has announced the completion of its third asset-intensive flow reinsurance transaction in Japan, executed with a leading Japanese life insurance company.
This transaction, which involved the reinsurance of whole of life liabilities through another new flow counterparty, builds on the firm’s previous block and flow transactions in Japan.
It also marks a key milestone in Pacific Life Re’s long-term commitment to the Japanese asset-intensive reinsurance market.
By using a flow format, insurers obtain increased flexibility in managing their capital and risk exposures, while also enhancing the competitiveness of their product offerings in the market.
Consequently, policyholders benefit from more attractive and sustainable insurance solutions.
Phill Beach, executive vice president of Savings & Retirement, Pacific Life Re, commented: “We are proud to have executed our third asset-intensive flow reinsurance transaction in Japan with a leading Japanese insurer.
“This achievement highlights not only our ability to structure and execute complex reinsurance solutions, but also our strong operational capabilities that support scalable, repeatable flow transactions, building on our experience from two prior flow reinsurance transactions.”
Rupen Shah, managing director, Asia Pacific and Individual Retirement of Savings & Retirement, added: “We are pleased to partner with our clients through asset-intensive reinsurance solutions and delighted to be supporting a new client, helping them enhance product competitiveness and create long-term benefits for policyholders. This further solidifies our commitment to supporting insurers and their policyholders in Japan.”
These deals were supported by global professional services firms, including Debevoise & Plimpton LLP.
