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Pacific Life Re completes first asset-intensive deal in Hong Kong

The transaction reinsured a block of whole life liabilities for a pan-Asian insurance provider as Pacific Life Re expands its Savings & Retirement business in Asia.

Reported · Written up by our desk · Reinsurance

Global life reinsurer Pacific Life Re said it has completed its first asset-intensive reinsurance transaction in Hong Kong, marking an expansion for its Savings and Retirement business in Asia, according to Reinsurance News.

The deal involved reinsurance of a block of whole life liabilities for a pan-Asian insurance provider, with Pacific Life Re saying it is using its financial strength and expertise to support the insurance and investment risks tied to the underlying obligations.

The company said the Hong Kong transaction is intended to enhance long-term policyholder security and resilience, and it credited the milestone to its ability to deliver bespoke reinsurance solutions.

Pacific Life Re also noted that the announcement follows its recent completion of a third asset-intensive flow reinsurance transaction in Japan, executed with a leading Japanese life insurance company.

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