Today: Jun 14, 2024

Pacific Life Re shakes up global structure with bold new vision

5 months ago

Pacific Life Re has implemented strategic changes to its organizational structure in order to enhance client support and achieve growth objectives. The company has transitioned from a geographical-based structure to a product-based structure, establishing two global lines of business: protection and savings & retirement. This shift positions Pacific Life Re to expand its reinsurance portfolio by addressing the unique needs of clients across diverse markets.

The global protection business will be headed by Andrew Gill, a seasoned executive committee member. The savings and retirement business, which includes existing longevity and global funded solutions work, will be overseen by Phill Beach, who now joins the executive committee. The company aims to streamline best practices, enhance its global expertise, and create a more growth-oriented work environment.

The new structure allows the company to better leverage its global expertise and best practices within each line of business and respond faster and more competitively to the evolving dynamics of the insurance market. Pacific Life Re CEO Dave Howell sees the changes as a significant and exciting change for the business, allowing it to adapt and meet growing demands in the insurance market.