Life and health reinsurer Pacific Life Re has completed the first of two asset-intensive flow reinsurance transactions in Japan, marking its entry in the segment.
The deals involve the reinsurance of whole of life liabilities through a flow structure, enabling ongoing, repeatable cessions over time, explained the firm.
This flow format aims to provide insurers with increased flexibility in managing capital and risk exposures, while enhancing the competitiveness of their product offerings in the market.
The benefits are hoped to trickle ultimately to policyholders through more attractive and sustainable insurance products.
Phill Beach, Executive Vice President, Savings & Retirement, Pacific Life Re, commented, “We are proud to announce the completion of our first asset-intensive flow reinsurance transactions in Japan. This achievement highlights not only our ability to structure and execute complex reinsurance solutions, but also our strong operational capabilities that support scalable, repeatable flow transactions.”
Rupen Shah, Managing Director, Asia Pacific and individual retirement of Savings & Retirement, Pacific Life Re, added, “We are delighted to be working in partnership with our clients to help them enhance product competitiveness and create long-term benefits for policyholders. This further solidifies our commitment to supporting insurers and their policyholders in Japan.”
Aon, a global professional services firm, supported these deals along with Willkie Farr & Gallagher and Eversheds Sutherland.
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