Pacific Life Re

What Pacific Life Re does

Pacific Life Re is a Bermuda-headquartered global life reinsurance company and a wholly owned subsidiary of Pacific Life, a mutual insurance company with approximately 160 years of operating history. It serves life insurance carriers, pension scheme trustees, and other reinsurers across North America, EMEA, and Asia-Pacific from offices in London, Singapore, Seoul, Sydney, Tokyo, and Toronto. The firm carries an AA- financial strength rating from S&P and has executed more than 60 longevity transactions covering over $50 billion of liabilities since launching its Asia operations in 2008. Its offerings span Protection Reinsurance, Savings & Retirement Solutions (longevity swaps and funded reinsurance), and Capital Solutions, with named clients including Tokio Marine & Nichido Life, Achmea, ASR Nederland, Nationale-Nederlanden, Lloyds Banking Group Pensions Trustees, Yorkshire and Clydesdale Bank Pension Scheme, Kakao Pay Insurance, and Malaysian Re.

Pacific Life Re owns and operates UnderwriteMe, a proprietary underwriting technology platform consisting of the UnderwriteMe Decision Platform and Protection Platform, supported by the Ocean underwriting manual. These platforms provide AI-powered underwriting automation, predictive analytics, and process automation that are deployed internally and licensed to third-party insurers. The UnderwriteMe platform was repositioned in April 2025 under a new CEO (Andrew Doran) and Board Chair (Michelle Moloney), indicating an explicit strategy to grow external technology licensing as a distinct revenue stream alongside reinsurance premiums.

The firm's revenue model combines reinsurance premiums from protection, longevity, and capital solutions treaties with recurring licensing and services revenue from UnderwriteMe. Pricing on the reinsurance side is anchored to multi-year and multi-decade treaty structures with both life insurers (for example, block reinsurance with Tokio Marine's Anshin Life operation and asset-intensive flow reinsurance in Japan) and pension scheme trustees (longevity swaps with Achmea at €4 billion, ASR Nederland at €1.3 billion, and Lloyds Banking Group). Go-to-market is enterprise-focused and relationship-driven, supported by local presence in seven financial centers, while UnderwriteMe extends the firm's reach into mid-tier insurers via a software channel.

Name

Pacific Life Re

Legal name

Pacific Life Re International Limited

Website

https://pacificlifere.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Pacific Life Re is a Bermuda-based global life reinsurer serving life insurers, pension schemes, and reinsurers with protection, longevity, and capital solutions, complemented by the UnderwriteMe underwriting technology platform licensed to insurers.

Ownership category

akta.pro rank

Product category

Life Reinsurance

NAICS

Reinsurance Carriers (524130), Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Life Treaty Reinsurance (FSAOAEAA)

akta.pro secondary industries

Longevity Reinsurance (FSAIANAC), Mortality (Life) Reinsurance (FSAOAAAA), Critical Illness & Living Benefits Reinsurance (FSAOAAAD)

Keywords

• Life reinsurance
• Longevity risk transfer
• Protection reinsurance
• Capital solutions
• Underwriting automation

Headquarters

HQ city

Hamilton

HQ country

Bermuda

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Reinsurance Premiums: Pacific Life Re earns revenue through reinsurance premiums for mortality, morbidity, and longevity reinsurance products. They provide protection reinsurance, savings and retirement reinsurance, and capital solutions to insurance companies globally.
2. Technology Licensing (UnderwriteMe): UnderwriteMe technology products are licensed to insurers and distributors. Protection Platform allows distributors to compare underwritten prices and product features. Decision Platform provides modular underwriting and claims automation solutions to insurers.
3. Capital Solutions Fees: Revenue from providing innovative capital solutions enabling insurers to optimize capital and enhance balance sheets. Solutions include supporting clients in navigating regulatory balance sheet strain, reducing volatility including IFRS17 driven accounting mismatches, and monetizing inforce or funding new business growth.
4. Longevity Risk Transfer: Revenue from longevity and funded reinsurance solutions including pension risk transfer transactions, individual annuities, and bulk annuity solutions that help insurers reduce risk exposures and improve capital efficiency.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Pacific Life Re is a global life reinsurer providing reinsurance solutions across three core lines: Protection (mortality, critical illness, disability, medical risk), Savings & Retirement (longevity and funded reinsurance including pension risk transfer), and Capital Solutions (balance sheet optimization and inforce monetization). It also licenses its proprietary UnderwriteMe technology platforms (Decision Platform and Protection Platform) and the Ocean underwriting manual to insurers and distributors worldwide.

Product overview

Pacific Life Re is a global life reinsurance company offering a unified platform of reinsurance products and technology solutions. The core product portfolio consists of Protection Reinsurance (managing mortality, critical illness, disability, and medical risks), Savings & Retirement (longevity and funded reinsurance), and Capital Solutions (balance sheet optimization). Technology offerings include UnderwriteMe's Decision Platform and Protection Platform (insurer-facing automation and distributor-facing platforms respectively), and Ocean, a next-generation underwriting manual. These products work together to provide clients with comprehensive reinsurance solutions supported by AI-driven automation and data analytics.

Differentiator

Problem solved

Functional benefit

Brands

• UnderwriteMe: Technology platform that develops products for the future of distribution and underwriting in the protection insurance industry, including the Protection Platform and Decision Platform.
• Ocean

Products and services

• Protection Reinsurance Global protection reinsurance services for life insurance companies covering mortality, critical illness, total and permanent disability, income protection, medical and associated risks. Services include product development, model development, predictive underwriting, underwriting and claims training, and data analytics & portfolio review.
• Savings & Retirement Reinsurance Longevity and funded reinsurance solutions that reduce risk exposures, improve capital efficiency and increase new business volumes. Includes pension risk transfer, individual annuities, bulk annuity solutions, and longevity swaps for pension schemes and life insurers.
• Capital Solutions Innovative capital solutions enabling insurers to optimise capital and enhance balance sheets, including solutions for regulatory balance sheet strain, IFRS17-driven accounting mismatches, market risk management, capital efficiency, and monetising inforce or funding new business growth.
• UnderwriteMe Decision Platform A platform that empowers insurers to enhance their underwriting and claims decision-making with cutting-edge automation, data and technology. The solution is flexible and modular, tailored to the needs of each insurer.
• UnderwriteMe Protection Platform A platform for distributors that enables them to complete one application, compare underwritten prices and product features, and put customers on risk — all from a single platform.
• Ocean Underwriting Manual A next-generation global underwriting manual written by underwriters for underwriters, providing straightforward and credible ratings guidance. Ocean covers life, critical illness, total and permanent disability, income protection, hospital expenses and cancer products, with over 1,000 pages of continually updated content driven by medical and epidemiological studies.

Quantifiable outcome

• Over $50 billion of liabilities covered across 60+ longevity transactions since 2008
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature3 records

Partnerships

19 partnerships are on record, tiered core and minor.

• Tokio Marine & Nichido Life Insurance (Anshin Life)coreStrategic or Co-development Partner · 9 June 2026Third asset-intensive block reinsurance deal with Tokio Marine & Nichido Life covering in-force whole of life policies. Building on transactions in 2024 and 2025, the deal helps Anshin Life reduce long-term interest rate risk while continuing to support and protect policyholders. Deal supported by Aon.
• AonminorImplementation/ SI/ Consulting Partner · 9 June 2026Global professional services firm supporting Tokio Marine & Nichido Life block reinsurance deal.
• Achmea Pension & Life InsurancecoreStrategic or Co-development Partner · 12 March 2026Awarded €4bn longevity reinsurance transaction with Achmea Pension & Life Insurance.
• ASR Nederland N.V. (a.s.r.)coreStrategic or Co-development Partner · 18 February 2026€1.3bn longevity swap reinsurance agreement covering portion of defined benefit pensions included in a pension buy-out. Marks Pacific Life Re's second longevity reinsurance transaction in the Netherlands. Deal supported by Hogan Lovells.
• Hogan LovellsminorImplementation/ SI/ Consulting Partner · 18 February 2026Global law firm supporting ASR Nederland longevity swap transaction.
• Lloyds Banking Group Pensions Trustees LimitedcoreStrategic or Co-development Partner · 30 March 2025New longevity reinsurance arrangements with Lloyds Banking Group Pensions Trustees Limited via Zurich Assurance Ltd.
• Nationale-Nederlanden LifecoreStrategic or Co-development Partner · 20 February 2025Longevity swap reinsurance agreement with Nationale-Nederlanden Life in the Netherlands, an important and growing market for Pacific Life Re.
• Kakao Pay InsurancecoreStrategic or Co-development Partner · 4 November 2024Partnership formed with Kakao Pay Insurance to provide reinsurance solutions.
• Financial Services Skills CommissionminorStrategic or Co-development Partner · 2 September 2024Partnership to ensure financial services sector is prepared for long-term skills needs.
• Malaysian RecoreStrategic or Co-development Partner · 13 June 2024Extended collaboration with Malaysian Re to provide retakaful solutions, strengthening presence in Southeast Asian market.
• Yorkshire and Clydesdale Bank (YCB) Pension SchemecoreStrategic or Co-development Partner · 4 February 2022£1.6bn longevity hedge with YCB Pension Scheme via Zurich Assurance Ltd.
• World Wildlife Fund (WWF)minorStrategic or Co-development PartnerFour-year partnership with WWF supporting the Blue Forest Programme which safeguards coastal ecosystems through restoration, conservation, and sustainable management approaches.
• Blue Carbon Research CentreminorStrategic or Co-development PartnerPartnership with WWF and Blue Carbon Research Centre to safeguard coastal ecosystems and launch initiative for ocean conservation.
• Waterways Watch SocietyminorStrategic or Co-development PartnerPartnership in Singapore with environmental charity established in 1998, bringing people together to love waters and inspire stewardship for environment.
• Thames21minorStrategic or Co-development PartnerPartnership in London supporting charity dedicated to improving rivers and canals around London for people and wildlife. Pacific Life Re employees regularly participate in clean-ups and habitat restoration.
• Ocean ConservancyminorStrategic or Co-development PartnerPartnership in Toronto and Sydney where employees undertake beach clean ups, measuring types of waste that end up in waterways and oceans.
• The Access ProjectminorStrategic or Co-development PartnerUK partnership matching volunteer tutors (including Pacific Life Re employees) with students to support GCSEs and A levels, plus mentors for university applications.
• Junior AchievementminorStrategic or Co-development PartnerPartnership providing training to students between 10-18 years teaching work readiness, entrepreneurship and financial literacy. Pacific Life Re volunteers at schools and provides financial support.
• Dress for SuccessminorStrategic or Co-development PartnerPartnership in London, Toronto and Sydney empowering women to enter workplace from positions of disadvantage by providing professional clothing, styling, interview coaching and ongoing support. Pacific Life Re runs career development days and volunteers with the charity.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• PartnerRe: Multi-line global reinsurer with Life and Health capabilities alongside P&C. Overlaps with Pacific Life Re in mortality, longevity and critical illness reinsurance, particularly in Europe and Asia.
• SCOR: Global reinsurer with a dedicated Life & Health division offering protection, longevity and financial solutions. Directly comparable on longevity swap capabilities and Asia-Pacific presence, though with broader P&C diversification than Pacific Life Re.
• Swiss Re: Top-tier global reinsurer with a sizeable L&H Reinsurance unit offering mortality, longevity and financial solutions. Competes head-to-head with Pacific Life Re on large pension risk transfer, longevity hedges and asset-intensive reinsurance; the CEO David Howell's prior career at Swiss Re underscores the talent overlap.
• Canada Life Re: Life reinsurance division of Canada Life (Great-West Lifeco) offering annuity reinsurance and longevity risk transfer. Comparable niche focus on longevity and pension risk transfer, particularly in the UK, Ireland and North America markets.
• Munich Re: The world's largest reinsurer with a substantial Life and Health reinsurance division covering mortality, longevity and critical illness. Directly competes with Pacific Life Re for large longevity swaps, block reinsurance deals and Capital Solutions mandates across Europe, Asia and North America.
• Hannover Re: Major global reinsurer with strong Life & Health reinsurance franchise offering mortality, longevity, critical illness and financial solutions. Directly comparable product set and cedent base to Pacific Life Re, particularly in European longevity and Asia-Pacific protection.
• Reinsurance Group of America (RGA): Pure-play life reinsurer with global operations across the US, EMEA, Asia and Latin America offering mortality, longevity, critical illness and financial reinsurance. Closest single-line life reinsurance comparable to Pacific Life Re in scale, product mix and geographic diversification.
• Gen Re (Berkshire Hathaway Reinsurance): Berkshire Hathaway-owned reinsurer with a sizable Life/Health division offering individual and group life reinsurance, critical illness, disability and longevity solutions. Competes directly with Pacific Life Re in North American retrocession and in European protection reinsurance.

Broad incumbents

• Aetna (CVS Health) Reinsurance Operations: While primarily a health insurer, Aetna's group insurance division historically cedes life and disability reinsurance and participates in the same cedent/supplier ecosystem as Pacific Life Re. Useful comparable for understanding U.S. group reinsurance market dynamics.

Others

• Pacific Life (Parent): Mutual life insurance company that owns Pacific Life Re. Not a competitor but the parent whose ~160 year history, mutual structure and capital base underwrite Pacific Life Re's AA- rating and long-duration capacity. Key strategic and capital counterparty rather than peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pacific-life-re
• Xx.com/pacificlifere

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles25 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pacific Life Re