- Pacific Life Re has completed a $3 bn longevity reinsurance transaction with American National Insurance Co., marking its entry into the US savings and retirement market.
- The agreement transfers longevity risk associated with a block of pension risk transfer liabilities to Pacific Life Re, extending its operations beyond the UK, Netherlands and Canada.
- The transaction follows Pacific Life Re’s expansion into Hong Kong’s asset-intensive reinsurance market and a €4 bn longevity reinsurance agreement with Achmea Pension & Life Insurance.
Pacific Life Re has entered the US savings and retirement reinsurance market through a $3 bn longevity reinsurance transaction with American National Insurance Co., expanding its international pension risk transfer business.
Under the agreement, Pacific Life Re will assume longevity risk associated with a block of pension risk transfer (PRT) liabilities. The transaction extends the reinsurer’s activities into the United States, complementing its established operations in the United Kingdom, the Netherlands and Canada.
The US agreement follows Pacific Life Re’s expansion into Asian savings and retirement reinsurance markets. In September 2026, the company announced its first asset-intensive reinsurance transaction in Hong Kong, establishing a presence in another regional market.
This transaction highlights our ability to deliver tailored longevity solutions at scale and demonstrates our strong commitment to support PRT markets and policyholders worldwide.
Phill Beach, executive vice president of savings and retirement at Pacific Life Re
At the time, Pacific Life Re said the Hong Kong transaction followed a series of successful reinsurance agreements in Japan, where it had already established a transaction record.
Earlier in 2026, Pacific Life Re completed a €4 bn longevity reinsurance agreement with Dutch insurer Achmea Pension & Life Insurance.
The transaction, announced in March, represented half of the €8 bn in pension liabilities transferred through two separate reinsurance arrangements.
Together, those transactions covered approximately half of Achmea Pension & Life Insurance’s longevity risk exposure, with the insurer expecting a meaningful capital benefit from the transfer.
The latest $3 bn agreement with American National Insurance adds the US market to Pacific Life Re’s savings and retirement operations following its recent longevity and asset-intensive reinsurance transactions in Europe and Asia.
