London, 10 January 2022 – Pacific Life Re is pleased to announce it has invested in Quantonation, a venture capital fund specialising in quantum technology and deep physics.
As innovators in the reinsurance space, Pacific Life Re is committed to supporting technology-led solutions that supplement – or could even reimagine traditional medical research.
Pacific Life Re’s partnership with Quantonation fosters the development of quantum technology products and services, leveraging our experience and expertise in the life and health reinsurance sector. In particular, this could include breakthroughs in areas including virtual drug testing, medical screening and AI-based diagnosis, with direct impact on life & health reinsurance.
Andrew Gill, EVP, Protection, Pacific Life Re, commented: “The expected enhancements of quantum technologies for heavy computational problems will prove incredibly helpful for future risks or behaviours forecasting and prevention. Areas of application for life and medical risks and beyond are limitless. I am very proud that Pacific Life Re actively supports Quantonation and their pool of promising tech startups.”
Olivier Tonneau, Partner, Quantonation, added: “We are thrilled to welcome Pacific Life Re as a strategic investor in Quantonation. As financial services & insurance is one of the shorter-term applications of quantum technologies, we believe that our collaboration with Pacific Life Re will enable us to develop innovative use cases with our portfolio companies and help accelerate the adoption of quantum technologies in the financial industry.”
About Pacific Life Re
Pacific Life Re works with clients in Asia, the UK and Europe, Australia and North America to provide mortality, morbidity, and longevity reinsurance products, funded and capital solutions. Pacific Life Re is a wholly owned subsidiary of Pacific Life.
About Quantonation
Quantonation’s strategy is to proactively invest, and bring its own scientific expertise to bear, in a number of enterprises in this fast-developing field. Quantonation’s portfolio companies are active in a range of quantum technology applications, including quantum computing – both hardware and software – quantum communications (e.g. cryptography) and quantum sensing (e.g. deep imaging). For more information, please visit their website.