Pacific Life Re has announced the successful execution of its first asset-intensive reinsurance transaction in Hong Kong.
The transaction marks Pacific Life Re's entry into a new market for its savings & retirement business in Asia, building on a strong track record of successful transactions in Japan.
The Hong Kong transaction involved the reinsurance of a block of whole life liabilities for a pan-Asian insurance provider. Through the transaction, Pacific Life Re's financial strength and expertise support the insurance and investment risks associated with the underlying liabilities, helping to enhance long-term policyholder security and resilience.
"We are proud to have completed our first asset-intensive reinsurance transaction in Hong Kong," said Phill Beach, executive vice president, savings & retirement, Pacific Life Re.
"This milestone demonstrates our capability to delivering bespoke reinsurance solutions, backed by our strong financial strength and expertise. As demand for these solutions continues to grow across Asia, we look forward to helping insurers enhance their resilience and better serve the long-term needs of policyholders."
