Pacific Life Re, a key player in the global reinsurance industry, has implemented strategic changes in its organisational structure to enhance client support and achieve ambitious growth objectives.
The company has transitioned from a geographical-based to a product-based management 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.
Heading the global protection business is Andrew Gill, a seasoned executive committee member with previous experience as EVP for Asia and Australia.
The savings and retirement business, encompassing existing longevity and global funded solutions (GFS) work, will be overseen by Phill Beach, a leader instrumental in the growth of the GFS business, who now joins the executive committee.
This strategic realignment reflects Pacific Life Re’s commitment to staying ahead in a dynamic industry. By focusing on specific product lines, the company aims to meet the changing demands of the market and foster innovation in its reinsurance offerings.
Pacific Life Re aims to enhance its global expertise, streamline best practices, and create a more dynamic and growth-oriented work environment. The move aligns with the company’s dedication to maintaining strong client relationships while proactively addressing the evolving dynamics of the insurance market.
Pacific Life Re CEO Dave Howell, said, “This is a significant and exciting change for the business. We have grown tremendously over the years thanks to the strong relationships with our clients. However, we also recognise that the insurance market is constantly evolving, and we need to adapt to meet growing demands. The new structure will allow the company to better leverage its global expertise and best practices within each line of business, respond faster and more competitively.
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