Pacific Life ReInsurance

Pacific Life ReInsurance is a global reinsurer helping clients manage risk in life and health markets. It supports over 11.4 million lives and reinsures billions of life insurance worldwide.

History of Pacific Life ReInsurance

This company began in 2008 after Pacific Life acquired Scottish Re’s UK-based reinsurance business. This move helped Pacific Life enter the global reinsurance market during the financial crisis.

It expanded from the UK into Europe, North America, Asia, and Australia over the next decade. Other key milestones that shaped Pacific Life ReInsurance’s growth include:

• global rebranding launch: rebranded as Pacific Life Re after the acquisition deal
• expansion into Asia: grew its reinsurance reach across several Asian markets
• innovation through tech: launched UnderwriteMe platform to speed up quoting
• retakaful collaboration begins: partnered with Malaysian Re to support Islamic markets
• premiums reach milestone: reinsurance premiums passed $1.5 billion across global regions

In 2024, it restructured its operations by product, not geography, to boost growth. Also, Pacific Life Re signed a reinsurance deal with Anshin Life to manage long-term rate risk.

Reinsurance products and services

Pacific Life ReInsurance is known for bold thinking in global protection, savings, and retirement reinsurance. Their offerings include:

Savings and retirement reinsurance

Their focus is on helping clients reduce long-term financial risks and improve capital strength. Key offerings by region:

• Asia: reinsurance of savings and retirement products in Singapore, Hong Kong, Japan, and other markets
• United Kingdom: support for pension risk transfers and individual retirement income products
• Europe: bulk and individual annuity reinsurance, especially in the Netherlands, aligned with regulatory changes
• North America (Canada): tailored reinsurance solutions provided through their Toronto-based team
• Australia: development of defined contribution retirement income strategies in collaboration with insurers

Protection reinsurance

Pacific Life ReInsurance is a global reinsurer of mortality, critical illness, disability, and medical risks. Reinsurance capabilities and support include:

• product development: support for launching and improving life and health insurance products
• predictive underwriting: advanced model development using risk data and market trends
• underwriting and claims training: customized education programs for client teams
• data analytics: portfolio review services to identify patterns, gaps, and areas for improvement

Key technologies

• UnderwriteMe: digital platform that simplifies quoting and helps insurers offer faster, smarter decisions
• Ocean: underwriting manual built by underwriters, offering trusted, consistent guidance for risk assessment

Pacific Life ReInsurance combines global reach with strong local knowledge across key reinsurance markets. Backed by Pacific Life, it offers trusted support shaped by over 150 years of experience.

Culture and core values

The firm brings a fresh mindset to reinsurance across fast-growing global markets. It lives by its core values: people, integrity, and courage in everything it does.

Workplace environment and benefits

It offers a workplace that is both intellectually challenging and openly supportive. Pacific Life ReInsurance offers staff several benefits, which include:

• work-life balance: supports flexible working, along with maternity and paternity leave
• private medical insurance: offers strong health coverage for employees and dependents
• learning and development: includes formal training, mentoring, and informal learning options
• employee assistance program: provides confidential support for mental and emotional wellness
• stakeholder pension scheme: delivers future security through long-term savings options
• wellness benefits: may include eye care, subsidized gym membership, and wellness tools
• collaborative culture: encourages social activities, fun clubs, and team connections
• group income protection: gives income support during long-term illness or serious injury

Benefits may vary depending on whether the role is permanent or temporary. The company’s strength comes from creative thinkers who collaborate across global offices every day.

DEI at Pacific Life Re

The company works closely with Employers Network for Equality and Inclusion (ENEI) to advance equality and inclusive practices. The firm uses this partnership to strengthen its internal diversity and equity commitments:

• Ability Network: improves accessibility through audits and workplace changes
• Cultural Awareness Network (CAN): supports open dialogue and ethnic representation
• Pacific Pride: promotes LGBTQ+ inclusion and authentic self-expression

Celebration and purpose go hand in hand—staff enjoy social events and support global charities.

Health and well-being

Pacific Life ReInsurance values everyone’s health and supports both mental and physical wellness. Local well-being champions lead activities like team walks, cupcake decorating, and puppy therapy. Smart About Health runs learning sessions on topics like menopause, OCD, and men's health.

The future at Pacific Life ReInsurance

To strengthen its UK retirement reinsurance efforts, Pacific Life Re has added new leaders. Their focus includes income products, longevity risk, and asset-based reinsurance solutions. These steps position the company for steady growth in key retirement markets worldwide.

Pacific Life ReInsurance also appointed new leadership to guide its growth in South Korea. It also completed a €2 billion longevity swap deal with NN Life in the Netherlands. These actions support the company’s goal to expand across Asia and Europe.