"What we have achieved in just a decade is testimony to our determination and our vision.  But any vision, no matter how brilliant, is just a pipe dream without the financial maturity of a parent such as Pacific Life."

Duncan Hayward
Chief Financial Officer | Division

FINANCIAL STRENGTH —

Our successful growth over the past decade is built upon two key platforms - the smart way we think about our business and the unprecedented way in which we operate around the world.  We believe our spirit and passion makes us unique, and we know it is our superior management and financial stability which makes us strong. 

To stay brave in this market, we must be resilient and this means having a solid financial foundation, which protects and preserves us in any situation. 

Our principled and pragmatic approach has seen many significant achievements including:

  • $1.5 billion* in earned premium income
  • $150 million* annualised new business premium generated by the Australian office
  • $3.7 billion* of underlying liabilities covered by new longevity swap reinsurance transactions

*USD in millions as of and for the year ended December 31, 2016

PACIFIC LIFE RE 

USD in millions as of and for the year ended December 31, 2016:

  2014 2015 2016
Assets $2,985
$3,235 $3,682
Operating Revenues1 $1,146
$1,470 $1,688
Earned premiums $1,067 $1,384 $1,506
Life Reinsurance in force $513,000 $546,000 $529,000

1 Excludes net realised investment gains/losses and other than temporary impairments

 

Pacific Life Re Limited is the main carrier for reinsurance business in Europe and Asia.  Pacific Life Re Limited's insurer financial strength ratings are as follows:

Standard & Poor's Fitch Ratings
AA- (stable) A+ (stable)


Pacific Life Re (Australia) Pty Limited is the main carrier for reinsurance business in Australia.  Pacific Life Re (Australia) Pty Limited's insurer financial strength rating is as follows:

Standard & Poor's
AA- (stable)

We have support and backing from our parent company, Pacific Life, which has been around for 150 years.

View Pacific Life's rating agency reports here.   

An insurer's financial strength rating represents an opinion by the issuing agency regarding the ability of an insurance company to meet its financial obligations to its policyholders and contract holders.

A rating is an opinion of the rating agency, only, and not a statement of fact or recommendation to purchase, sell or hold any security, policy or contract. These ratings do not imply approval of our products and do not reflect any indication of their performance. For more information about a particular rating or rating agency, please visit the website of the relevant agency.

For more information on Standard & Poor's, visit their website.

For more information on Fitch, visit their website.