Debevoise & Plimpton LLP has advised long-standing client American National Insurance Company (“ANICO”), a leading participant in the US pension risk transfer market, in the successful execution of a longevity reinsurance transaction with Pacific Life Re.

Under the terms of the transaction, ANICO has reinsured with Pacific Life Re the longevity risk associated with $3 billion of pension risk transfer liabilities.

This represents a significant development in ANICO’s management of its pension risk transfer liabilities and marks Pacific Life Re’s entry into the US longevity reinsurance market.

The Debevoise team advising American National Insurance Company was led by insurance partner Paulina Stanfel and counsel Rosamund Wood, and included partner Hugo Laing, and associates Alexandra Grady and Laura Jackson.