Debevoise & Plimpton LLP has advised Pacific Life Re, a leader in the global life reinsurance industry, in the completion of a longevity reinsurance transaction with Achmea Pension & Life Insurance.

Pacific Life Re were awarded €4bn of the €8bn in pension liabilities transferred as part of the transaction. In total, the €8bn transaction represents approximately half of Achmea Pension & Life Insurance’s longevity risk exposure and delivers a meaningful capital benefit to the business.

For full details, see the official release here.

The Debevoise team advising Pacific Life Re was led by partner Hugo Laing, and included associate Henry Dean, Ellie Hemmings, Martha Hirst, and Deniz Tanyolac.