We work with insurers across Europe, and in particular help our clients in the Netherlands navigate the complexities of upcoming pension regulation changes with bulk and individual annuity solutions
Vanessa HoVon
Global Head of Client Solutions | Savings & Retirement
Pension Risk Transfer
Pacific Life Re have a rich history of supporting longevity pension risk transfer (PRT) markets and actively service markets globally. We have completed over 60 longevity transactions since 2008, covering more than $50bn of liabilities; these range from small deals executed as part of a ‘flow’ arrangement, through to our largest transaction covering single scheme liabilities of >$10bn.
As an organisation we thrive on developing innovative and bespoke solutions which, together with our strong risk appetite and technical expertise, enables us to support insurers, including those in Continental Europe, with their longevity risk transfer needs.
Individual Annuities
The shift from defined benefit pension schemes to defined contribution is leading to increased opportunity for individual annuity reinsurance solutions across several markets.
Our experience with flow transactions combined with a commitment to developing cutting-edge technology will support our proposition for individual annuities. We look forward to sharing this solution with our clients to support competitive pricing, as well as product development.
Funded Reinsurance
Pacific Life Re is a market leading provider of asset intensive solutions. Our extensive knowledge of markets across the world allows us to work closely with our clients to find bespoke structures, whilst ensuring security for policyholders.
Solutions can be tailored to a wide variety of underlying products; for example, funded reinsurance can be utilised alongside a traditional longevity swap to offload some or all of the market risk associated with PRT or annuity liabilities. Alternatively, these types of solutions can provide a tool that can be used to support insurers manage the risks associated with large backbooks, for example those which are typical for European savings business.
The Netherlands is an important and growing market for us and we're delighted to have recently transacted on our first longevity swap reinsurance deal with Nationale-Nederlanden Life.
Click below for further details about this latest partnership
Pacific Life Re are proud sponsors of the InsuranceERM’s inaugural life reinsurance conference in London on 2nd June. The conference will draw together life insurers, reinsurers and regulators from across Europe to discuss what has become one of the fastest growing markets in the insurance world. Do get in touch if you would like to arrange to meet one of our Savings & Retirement team during the conference.
Rachel Keaney
Vice President Client Solutions | Savings & Retirement | Europe
Emily Eskandari
Manager Client Solutions | Savings & Retirement | Europe
Andrew Hunt, our Head of Mortality Trend Research at Pacific Life Re, recently presented at the L19: The Nineteenth International Longevity Risk and Capital Markets Solutions Conference in Amsterdam.
He discussed how the COVID-19 pandemic caused over 7 million deaths globally, and whilst its ongoing impact is still uncertain, the potential for continued higher mortality will persist for years into the future. This poses a significant challenge to the way we model mortality trends but comparing the Netherlands with the UK highlights the issues and allows us to consider potential solutions.
To read the full write up of Andrew’s talk click the link below.
Protection
When asked what opportunities life reinsurers in Asia have, Pacific Life Re's Vasan Errakiah was quick to cite demand for insurance, changing regulations and the adoption of new technologies.
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Protection
Asia Insurance Review spoke to Pacific Life Re's Mr Ong Qian Hao and FWD Group's Ms Fiona Hermans to understand how strategic partnerships can effectively address these challenges and lead to successful outcomes.
Medical Advances
Read our update on the impact of mortality from COVID-19.
Medical Advances
Lung cancer is often diagnosed at a late stage leading to poor prognosis for the individual. We look at how screening could have an impact.
Underwriting & Claims
Underwriting has been going through significant transformation over the last few years and continues to accelerate at an unprecedented pace. Traditionally seen as a barrier, there is now a growing opportunity to position underwriting as a strategic asset.
Protection
Big data analytics has been instrumental for (re)insurers aiming to boost performance, efficiency, and effectiveness.
Medical Advances
From emerging drugs which battle obesity to a review of the effectiveness of new blood tests both to detect cancer and to help slow down Alzheimer’s, we hope these insights help keep you up to date with the latest in medical research.
Medical Advances
Vaping is generally considered less harmful than smoking, however longer-term risks have not had time to emerge and could prove considerable.
Medical Advances
Despite broadly improving cancer mortality, some types of the disease are increasing in incidence
Protection
Consumer Duty has put increased focus on how much value different customers get from financial products. But how well is the protection industry serving different customer groups? Who are the most underserved groups, and what can the industry do to help serve these groups better?
Underwriting & Claims
Underwriting processes, practices and philosophies are changing with faster pace than we have ever experienced before.
Medical Advances
A new generation of drugs has now well and truly arrived aiming to improve weight loss. The drugs are heavily touted by celebrities and influencers, despite many of them having no medical need to lose weight. Obesity contributes significantly to some of the most common causes of death including heart disease and cancer, as well as affecting quality of life for millions. In this article we look at these increasingly available drugs offering hope to more people with obesity. We consider their potential to broadly improve health, and their limitations.
Medical Advances
Scientists successfully conducted early-stage trials which provide hope of a future cure for some of the most severe types of multiple sclerosis (MS).
Medical Advances
The world’s largest conference dedicated to the science and treatment of cancer took place in Chicago in early June. The American Society of Clinical Oncology’s annual meeting is a popular forum at which new scientific developments are often revealed.
Medical Advances
A recent review by WHO resulted in reclassification of pituitary adenoma as described in the article
Medical Advances
In 2023 we’ve seen soaring temperatures across the globe along with devastating storms and wildfires. Why is our climate changing and what impact is it having?
Medical Advances
Welcome to our first edition of Vital Insights. Here we’ve put together a collection of articles covering some of the major issues of the day with a specific focus on how they will impact mortality and morbidity.
Medical Advances
Total deaths from dementias in high-income countries have almost quadrupled in the last 20 years, yet so far medical science has very few answers. This article looks at the recent emergence of the first drugs which may be able to modify the effects of this terrifying disease
Medical Advances
COVID-19 has stolen the limelight from other respiratory viruses in recent years. However there are plenty of other common viruses which can have serious health consequences, among them Respiratory Syncytial Virus, or RSV.
Medical Advances
A new UN report reveals optimism about a possible end to the global AIDS epidemic
Medical Advances
Vaccine technologies have continued to improve greatly in recent years. However, vaccines are little use if people refuse to use them. Here we look at the precarious position of measles, a well-known but little-understood serious condition, which is held in check in most countries only because of high vaccine uptake.
Medical Advances
The International Agency for Research on Cancer (IARC), the cancer research arm of the WHO, recently classified the common sweetener aspartame as a possible cause of cancer in humans.
Protection
Beneath the Surface report 2023 We explored some of the key drivers of sustainability for the protection market. We undertook consumer research which combined with our medical and underwriting expertise and our deep understanding of the market, enabled us to create this report.
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Protection
Beneath the Surface report 2022 In this report, we analyse the current VAS landscape in the UK & Irish protection markets. Look to understand the views and experiences of customers, with the aim of assessing how much value these services are really adding today. Look at what insurers say, and consider what the future might hold for the development of VAS.
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