Pacific Life Re has successfully completed its third asset-intensive flow reinsurance transaction in Japan.
The transaction follows the company's prior block transactions and two flow transactions in Japan and marks a key milestone in its long-term commitment to the Japanese asset-intensive reinsurance market.
Executed with a leading Japanese life insurer, the transaction involved the reinsurance of whole of life liabilities through another new flow counterparty. The flow format provides insurers with increased flexibility in managing their capital and risk exposures, while also enhancing the competitiveness of their product offerings in the market. These benefits ultimately extend to policyholders through more attractive and sustainable insurance products.
“We are proud to have executed our third asset-intensive flow reinsurance transaction in Japan with a leading Japanese insurer,” said Phill Beach, executive vice president of savings & retirement, Pacific Life Re.
“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.”
These deals were supported by global professional services firms, including Debevoise & Plimpton LLP.
