Pacific Life divisions & key areas of expertise are: Life Insurance : Financial protection, b usiness planning, continuation strategy, estate planning Retirement Solutions: Retirement income, asset accumulation and asset allocation strategies Institution: Management of credit risk, m anagement of different situations and provision of stable value for clients Fortune500 financial service company Pacific Life is changing and impacting the financial world through industry-leading innovation. With its home office located right here in California, the company is working strategically to create career pathways for students in the Orange County community. The 150 + year...
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However, one factor that could act as a limiter on growth in the region is the downward pressure on interest rates globally. This could lead to a prolonged low-interest-rate environment across Asia-Pacific. The Japanese market has already been dealing with such an environment for a number of years. Insurers from across other regions within Asia-Pacific and across the world should look to Japanese insurers for advice on how to deal with the scenario, particularly around which products have fared well. In a region this diverse, every market is different, but having such a large population creates great market potential once life insurance and pensions become a more common product in the...
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JV will invest in value-add multifamily and industrial properties across the United States DENVER and NEWPORT BEACH, Calif., June 1, 2022 /PRNewswire/ -- Walker & Dunlop Investment Partners, Inc. (WDIP), announced today that it has partnered with Pacific Life to form a $500 million programmatic joint venture. The joint venture will make equity investments in multifamily and industrial properties across the United States. Focusing on the robust middle market of real estate, the partnership will invest $15 million to $50 million in equity per deal alongside sponsors with track records of successful value-add transactions. WDIP expects the joint venture to invest in up to 30 assets with a...
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Pacific Life Re strikes partnership with ThaiRe Life Pacific Life Re and ThaiRe Life Assurance PCL have announced the formation of a new partnership to provide sustainable life reinsurance solutions to Thailand-based life insurance operators. The collaboration is expected to bring Pacific Life Re’s technical and product development expertise together with ThaiRe Life’s insights and standing in the local life industry. According to a report by GlobalData’s Insurance Intelligence Center, the life insurance industry in Thailand is forecast to reach THB 663 billion (USD 22 billion) in gross written premium in 2024, up from THB 587 billion ($20 billion) in 2020. “This is a significant step for...
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Pacific Life says it will focus on selling long-term care benefits riders on cash-value life insurance policies, rather than life insurance policies with built-in LTC benefits. The Newport Beach, California-based insurer is discontinuing the sale of Pacific PremierCare Choice whole life policies with LTC benefits. The company is also ending the sale of Pacific PremierCare Advantage Universal Life Insurance With Long-Term Care Benefits policies. The company said it will continue to service any policies with LTC benefits that are already in force. Life insurers depend heavily on earnings on bond investments to support LTC benefits obligations. Bond rates have been low in recent years. Pacific...
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NEWPORT BEACH, Calif.--( BUSINESS WIRE )--Pacific Life Insurance Company announced today that Darryl Button has been named CEO-Elect and will become president and CEO of Pacific Life, succeeding Chairman, President and CEO Jim Morris, on April 1, 2022, upon Mr. Morris’ retirement. Mr. Button, currently the company’s chief financial officer, will be only the 15 chief executive in Pacific Life’s 154-year history. In addition, the board of directors of Pacific Mutual Holding Company, the ultimate parent company of Pacific Life, has named Mariann Byerwalter as its non-executive board chair beginning April 1, 2022. Button joined Pacific Life in 2017, bringing with him significant experience...
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Pacific Life Re seals key $190mn funded reinsurance deal Life reinsurer Pacific Life Re has completed a funded reinsurance transaction via its newly-formed Global Funded Solutions (GFS) business line. Covering pensioner and deferred liabilities of around £190 million, the transaction was completed with a leading UK insurer. This was the life reinsurer’s second asset-intensive transaction written on an annuity deal and was led by Vanessa HoVon in partnership with Hogan Lovells. Funded reinsurance involves the reinsurance of both longevity and asset risks associated with pension liabilities, in an effort to protect against the financial risk of an unexpected increase in life expectancy...
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Pledge of Ongoing Support Enables Red Cross to Today, the American Red Cross recognizes the Pacific Life Foundation, headquartered in Newport Beach, California, for supporting Red Cross Disaster Relief through the Disaster Responder Program with an annual pledge of $250,000. By making a proactive donation, the Pacific Life Foundation helps ensure the Red Cross is prepared to meet the needs of people affected by disasters big and small across the U.S. Disaster Responder Program members, along with their employees and customers, pledge financial and in-kind donations in advance of disasters, powering the Red Cross with strong infrastructure, trained volunteers, innovative technology and...
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Pacific Life Re appoints Senior Underwriter to support growing UnderwriteMe demand Pacific Life Re is pleased to announce the appointment of Lindsay Stark to the role of Senior Underwriting Developer. Lindsay will be responsible for ensuring UnderwriteMe clients gain an advantage over the competition by making the process of purchasing life insurance simpler and faster. Lindsay is a highly experienced Life Underwriter with almost 15 years of experience working across the Life Insurance and reinsurance markets. He joins from MetLife where he spent 3 years as the Underwriting Services Manager. Prior to this, he held a number of senior underwriting positions in BT Financial Group, TAL Life...
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JERSEY CITY, N.J. – February 7, 2022 – Verisk (Nasdaq:VRSK) announced today that Pacific Life’s level-premium term life insurance product, Pacific Elite Term, is in production with Verisk’s FAST platform for new business, policy administration and claims. The launch marks another important milestone in Pacific Life’s digital transformation, which is focused on continuing growth with digital capabilities that power distinctive customer experiences, operational excellence and data-driven decisions across Pacific Life. Seamlessly integrated into Pacific Life’s workflow, the FAST platform supports Pacific Life’s full range of offerings—from today’s relatively simple term product launch to more...
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