Pacific Life Re has announced the successful execution of a $3bn longevity reinsurance transaction with American National Insurance Company.
The transaction marks Pacific Life Re's entry into the US market for its savings and retirement business, building on a strong track record supporting similar markets in the UK, Netherlands and Canada.
"We are thrilled to achieve this milestone transaction and continue to provide longevity and asset-intensive solutions globally” said Phill Beach, executive vice president, savings and retirement, Pacific Life Re.
“This transaction highlights our ability to deliver tailored longevity solutions at scale and demonstrates our strong commitment to support PRT markets and policyholders worldwide.”
