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According to company officials, the transaction follows the establishment of a Life Reinsurance Branch of Pacific Life Re Limited in Singapore. The headquarters will remain located in London with its Asia business being managed through Singapore.
"The completion of the purchase of the Asia business is an important milestone, and marks the full establishment of our new Pacific Life Re operations," said David Howell, CEO. "The existing team, led by Andrew Linfoot, has a great deal of experience in Asia and we are looking forward to building more mutually beneficial reinsurance partnerships in the region."
"We are excited to be operating under the Pacific Life Re banner, and look forward to providing our value generating solutions to life insurers in the region," said Andrew Linfoot, Director, Asia. "We are grateful to our clients for their continued support as we have worked through this process. We look forward to working with them and our new colleagues at Pacific Life to build on the strong platform we now have in place and to establish Pacific Life Re as a clear market leader in life reinsurance."
Pacific Life Re Limited is a specialist life reinsurer offering a range of reinsurance solutions and support to insurance clients in the UK, Ireland and Asia.
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