Pacific Life Re unveils new global structure

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Pacific Life Re unveils new global structure


Pacific Life Re unveils new global structure | Insurance business America

The company will move away from its geographical structure

reinsurance

By Kenneth Araullo

Pacific Life Re has announced a major restructuring of its organizational framework aimed at improving customer service and facilitating the company’s growth objectives.

After transitioning from a geographically based structure, Pacific Life Re will now operate under a product-based management system focused on two main business areas: pensions and savings and retirement planning.

The restructured approach is intended to enable Pacific Life Re to expand its reinsurance portfolio by addressing customer needs in different markets. The global protection business will now be under the leadership of Andrew Gill, an existing member of the board. Previously, Gill served as EVP for Asia and Australia.

The savings and retirement division, which includes the firm’s existing work in longevity and global financed solutions (GFS), will be led by Phill Beach. Beach, known for his role in developing the GFS business, will join the board as part of this realignment.

Dave Howell, CEO of Pacific Life Re, commented on the organizational changes, emphasizing their significance and potential impact.

“We have grown enormously over the years thanks to the close relationships with our customers. However, we also recognize that the insurance market is constantly evolving and we must adapt to meet growing demands,” said Howell.

Howell continued that the new structure would allow Pacific Life Re to more effectively leverage its global expertise and best practices across each business area. Additionally, the restructuring at Pacific Life Re is expected to create more opportunities for professional development, which will benefit the workforce.

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2024-01-26 15:53:27

www.insurancebusinessmag.com