Pacific Life Re has completed 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.
The Hong Kong transaction involved the reinsurance of a block of whole life liabilities for a pan-Asian insurance provider.
“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 deliver 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.”
“We are delighted to bring our asset-intensive reinsurance capabilities to Hong Kong through this landmark transaction. By helping insurers better manage long-term risks, we enable them to focus on delivering greater value to policyholders and supporting their evolving savings and retirement needs,” added Dominic Lim, Head of Client Solutions, Asia, Savings & Retirement, Pacific Life Re.
The transaction was supported by Mayer Brown.
