Pacific Life Re Australia krijgt toestemming voor afsluiten herverzekeringen
SYDNEY–(BUSINESS WIRE)– Pacific Life Re (Australia) Pty Limited heeft van de Australian Prudential Regulatory Authority (APRA) wettelijk toestemming gekregen om herverzekeringen voor levensverzekeringen af te sluiten in Australië.
Pacific Life Re Australia is onderdeel van Pacific Life Re, de herverzekeringstak van Pacific Life. Pacific Life Re heeft kantoren in Europa, Azië en Noord-Amerika. Het hoogste moederbedrijf is Pacific Mutual Holding Company, een in de Verenigde Staten gevestigde onderlinge waarborgmaatschappij in levensverzekeringen. Het bedrijf is in 1869 opgericht en heeft een vermogen van 137 miljard dollar.
Pacific Life Re Australia Receives Regulatory Approval to Commence Writing Reinsurance Business
SYDNEY–(BUSINESS WIRE)– Pacific Life Re (Australia) Pty Limited (“Pacific Life Re Australia”) has received regulatory approval from the Australian Prudential Regulatory Authority (APRA) to commence writing life reinsurance business in Australia.
Pacific Life Re Australia is part of Pacific Life Re, the reinsurance division of the Pacific Life group. Pacific Life Re has existing offices in Europe, Asia and North America. The ultimate parent is Pacific Mutual Holding Company, a US-based mutual life insurance company founded in 1868 with over US$137bn in Company Assets.
“This is a significant milestone as we look to bring additional reinsurance capacity to the Australian life market”, says Andrew Gill, Managing Director of Pacific Life Re Australia. “The Australian market has undergone a fair amount of disruption in the life insurance space over the last few years so we see this as a unique opportunity to bring a fresh approach to supporting Australian insurers.”
Pacific Life Re Division CEO, Dave Howell, also commented, “This licence represents a further expansion of the global Pacific Life Re brand and proposition. We have recruited a very experienced local management team and are looking forward to partnering with our clients in Australia over the coming years.”
Pacific Life Re Australia has received a stand-alone financial strength credit rating from S&P of A+ (stable outlook).
View source version on businesswire.com: http://www.businesswire.com/news/home/20150817006399/en/
Contacts
Pacific Life Re
Ilan Leas, +61 41 336 3550
Head of Marketing, Australia
Ilan.Leas@PacificLifeRe.com