LONDON--(BUSINESS WIRE)--Pacific Life Re is pleased to announce that Standard & Poor’s (S&P) have upgraded the financial strength rating from A+ to AA- for Pacific Life Insurance Company, Pacific Life & Annuity Company and Pacific Life Re Limited. This rating is the fourth highest rating out of the 21 rating categories used by S&P, which puts us in an excellent position. At the same time, S&P have maintained the outlook on the ratings at ‘stable’.
David Howell, CEO, Pacific Life Re commented: “This action by S&P to upgrade our financial strength rating to AA- is based on their long-term review of our financial results and our business strategy around growth and diversification. This further enhances our reputation as a leading reinsurer in our chosen markets and is a solid foundation for further growth within the longevity and protection markets around the world. We see this as an excellent step forward for Pacific Life Re.”
To read the full press release from Standard & Poor’s, visit www.PacificLife.com/Ratings.
About Pacific Life Re
Pacific Life Re works with clients in the UK, Ireland, Asia, Australia and North America to manage their mortality, longevity and morbidity risk. Pacific Life Re Limited, a wholly-owned subsidiary of Pacific LifeCorp, is regulated by the Prudential Regulation Authority and the Financial Conduct Authority.
For more information, please get in touch with your local media contact: http://pacificlifere.com/home/misc/service_links/contact.html
About Standard & Poor’s
S&P Global Ratings and its predecessor organisations have been in business for more than 150 years. S&P is the world’s leading provider of credit ratings, which are essential to driving growth, providing transparency and helping educated market participants. Operating in 26 countries around the globe, our analysts, managers and economists assess the factors and trends that affect creditworthiness.