Bermuda, 25 January 2024 | Pacific Life Re, a leading player in the global reinsurance industry, has announced changes to its organisational structure to better support its clients and achieve its ambitious growth plans.
The company is moving from a geographical-based to a product-based management structure, with two global lines of business: protection and savings & retirement. This will allow the business to continue to grow its reinsurance portfolio by focusing on solving the needs of its clients across all markets.
The global protection business will be run by Andrew Gill, an existing executive committee member who previously held the role of EVP for Asia and Australia. The savings and retirement business, which includes existing longevity and global funded solutions (GFS) work, will be managed by Phill Beach who has led the growth of the GFS business. Beach will join the executive committee.
"This is a significant and exciting change for the business," said Pacific Life Re CEO Dave Howell. "We have grown tremendously over the years thanks to the strong relationships with our clients. However, we also recognise that the insurance market is constantly evolving, and we need to adapt to meet growing demands.”
Howell added, “The new structure will allow the company to better leverage its global expertise and best practices within each line of business, respond faster and more competitively to market opportunities, and create more career development opportunities for our people.”
About Pacific Life Re
Pacific Life Re provides mortality, morbidity, and longevity reinsurance products, funded and capital solutions and works with clients in Asia, the UK and Europe, Australia, and North America. Pacific Life Re is a wholly owned subsidiary of Pacific Life.