Pacific Life Re yesterday announced a second asset intensive reinsurance agreement with Tokio Marine & Nichido Life Insurance (Anshin Life).
Building on the success of the first transaction in 2024, this deal covers in-force whole of life policies and will help Anshin Life reduce its portfolio’s long-term interest rate risk. The deal will also contribute to the advancement of the insurance company’s asset liability management capabilities.
Pacific Life Re executive vice president of savings and retirement Phill Beach said, "We’re delighted to announce this second transaction with Anshin Life, reinforcing our strong partnership. Providing these types of solutions in Japan is a key part of our core business strategy. Through the transfer of Anshin Life’s risk to Pacific Life Re, their organization is able to more efficiently manage and optimise their product portfolio, helping to achieve broader business objectives.”
This deal was supported by global professional services firms Aon and Eversheds Sutherland.