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Pacific Life Re completes third asset-intensive flow reinsurance deal in Japan
The transaction reinsured whole of life liabilities via a new flow counterparty, giving the ceding insurers more flexibility to manage capital and risk exposures.
Pacific Life Re, the reinsurance arm of Pacific Life, said it has completed its third asset-intensive flow reinsurance transaction in Japan with a leading Japanese life insurer.
The deal reinsured whole of life liabilities through another new flow counterparty, building on prior block and flow transactions in the country, and marking a milestone in Pacific Life Re’s long-term commitment to Japan’s asset-intensive reinsurance market.
Pacific Life Re said the flow format is intended to provide insurers more flexibility in managing capital and risk exposures while enhancing the competitiveness of their product offerings.
Company executives described the completion as part of an ongoing effort to work with clients using asset-intensive reinsurance solutions, and the firm noted the transaction was supported by professional services firm Debevoise & Plimpton LLP.