Pacific Life Re completes €4 billion longevity reinsurance deal with Achmea

Pacific Life Re has completed a €4 billion longevity reinsurance transaction with Achmea Pension & Life Insurance, covering half of an €8 billion pension liability transfer.

The deal reduces Achmea’s longevity risk exposure by approximately 50% and provides capital benefits to support its strategy in the Dutch pension buyout market and investment portfolio optimization.

“Transferring roughly half of our longevity risk exposure is a deliberate and significant next step in executing our long-term strategy. The associated capital benefit will support our strategic growth ambitions in the area of pension buyouts, as well as the further optimisation of our investment portfolio. This will be done in close collaboration with Sixth Street and Achmea Investment Management.” – Arthur van der Wal, CEO of Achmea Pension & Life Insurance.

“We are excited to support Achmea Pension & Life Insurance on this transaction, which marks our fourth in Continental Europe and our largest to date in the Netherlands. It highlights our ability to deliver tailored longevity solutions at scale and demonstrates our strong commitment to the Continental European market. We look forward to continuing to collaborate with our clients, as they navigate evolving regulatory and strategic priorities.” – Vanessa HoVon, Managing Director, Savings & Retirement for Europe & Americas at Pacific Life Re.