Pacific Life Re secures reinsurance deal with Tokio Marine & Nichido Life

This will benefit Anshin Life’s product portfolio.

Reinsurer Pacific Life Re has signed an asset-intensive reinsurance agreement in Japan with Tokio Marine & Nichido Life Insurance (Anshin Life).

The agreement covering in-force whole of life policies will give Anshin Life a new procress to minimise long-term interest rate risk of its portfolio and will boost asset liability management capabilities.

“By transferring their risk to Pacific Life Re, Anshin Life can efficiently manage and optimise their product portfolio helping them to achieve their overall business objectives and provide the long-term stability needed to deliver on their promises to policyholders,” Phill Beach, executive vice president of savings & retirement, Pacific Life Re, said in a statement.

The deal was backed up by Aon and Eversheds Sutherland.

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