Our operation in Europe is rapidly growing, establishing Pacific Life Re as a significant player throughout the region, with a reputation for offering responsive and tailored services to our clients.

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“Our European Business Unit continues to grow, enhancing our reputation for flexibility, innovation and service.  The driving force behind this is the quality of our people, their skills and the resulting client relationships.  We continue to invest in our people, ensuring we add to our team with the best skills available and continue to go from strength to strength.”

Darren Spriggs
Managing Director | Europe

 

EUROPE 

Our London office was the first to open in 2008, and has grown to a high performing team of over 150 people, who are committed and united in building our leadership position in the market.  Central to our success in the UK and Ireland is our unwavering commitment to providing superior and personalised client support.  In fact, we consider those we work with as partners more than clients. 

Our primary ambition is to always bring sound wisdom to the reinsurance market, because we operate in one of the most established markets in the world.  Our steadfast, determined approach to offer the best, most up-to-date service reflects this.

Protection 

Our protection proposition is built upon a foundation of competitive pricing, as we recognise that this is the key driver in any reinsurance buying process.  However, it is key that we can also offer our clients the full range of support and services that would be expected of a major reinsurer.

We believe product development should not just be about claim triggers and risk rates. Design should start with the customer and distribution, ensuring that claims are paid and products can be sold.  Our vast experience and track record across distribution channels, sales methods and customer journeys allows us to tailor propositions specifically to the needs of the end customer. 

We strive to build industry and product expertise with our insurers and provide tailored training sessions regularly with them to share knowledge and critical trends in underwriting and claims. 

A commitment to new technologies is one of our company’s most important strategies, and both Ocean and UnderwriteMe bring our clients directly into the decision making processes, with all the relevant local data they need at their fingertips.  

We know managing distribution is a vital component of running a successful protection business and our persistency modelling project allows clients to compare different distributors on a like-for-like basis and benchmark client’s results.  

For more information, please contact James Tait, Head of Protection at james.tait@pacificlifere.com

Longevity

Since our first longevity swap in 2008 we have helped insurers, banks and pension schemes transfer longevity risk related to over £20 billion of annuity and pension liabilities.

We have significant experience in structuring longevity transactions, including:

—  Reinsurance of in-force portfolios of annuity policies;
  Providing longevity reinsurance support for pension scheme buy-ins and buy-outs, including risk relating to deferred members;
  Longevity risk reinsurance supporting pension scheme longevity swaps using both intermediaries and captive structures.

We have been at the forefront of the pension risk transfer market for the last decade, including supporting the UK’s first pension scheme longevity swap, helping the MNOPF transfer longevity risk through a Guernsey captive structure and broadening access to longevity risk transfer for smaller pension funds.

For more information, please contact Andy McAleese, Head of Longevity at andy.mcaleese@pacificlifere.com.