Pacific Life Re executes $3 billion longevity reinsurance deal with American National
What happened
Pacific Life Re executed a $3 billion longevity reinsurance agreement with American National Insurance Company. As part of the transaction, Pacific Life Re assumes the longevity risk linked to $3 billion of Pension Risk Transfer (PRT) liabilities. This deal marks the entry of Pacific Life Re’s Savings & Retirement business into the US market.
From artemis.bm
Why it matters
The agreement establishes a major longevity risk transfer in the US market. This transaction builds upon Pacific Life Re’s existing presence in the UK, Netherlands, and Canada. The deal was supported by global law firm Eversheds Sutherland.
From artemis.bm
Who's involved
- American National Insurance CompanyAmerican National Insurance Company, which entered into the $3 billion reinsurance agreement.
- Eversheds SutherlandEversheds Sutherland, which supported Pacific Life Re on the reinsurance deal.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- American National Insurance CompanySpeculative
American National Insurance Company might see a reduction in its longevity risk liabilities due to the reinsurance agreement.
- Eversheds SutherlandSpeculative
Eversheds Sutherland could see increased revenue from supporting large-scale longevity reinsurance transactions.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
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American National Insurance Company
insurance corporation headquartered in Galveston, Texas
Nothing else this week.
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Netherlands
one of the four autonomous countries of the Kingdom of the Netherlands; with territories in the Caribbean