Pacific Life Re has concluded the purchase of the Asian life reinsurance business of Scottish Re Group.
This transaction follows the establishment of a life reinsurance branch of Pacific Life Re in Singapore. The headquarters will remain located in London with its Asia business being managed through Singapore.
David Howell, CEO of Pacific Life Re, said: "The completion of the purchase of the Asia business is an important milestone, and marks the full establishment of our new Pacific Life Re operations. The existing team, led by Andrew Linfoot, has a great deal of experience in Asia and we are looking forward to building more mutually beneficial reinsurance partnerships in the region."