PIMCO To Manage Some Pacific Life Assets

Pacific Life Insurance Company has asked PIMCO to manage $250 million of its general account assets.

PIMCO, Newport Beach, Calif., a unit of Allianz S.E., Munich, Germany, will be responsible for a relatively small percentage of Pacific Life's $28 billion bond portfolio, but the percentage could grow over time, according to Pacific Life, Newport Beach.

PIMCO already manages about $10 billion of Pacific Life policyholder funds in separate accounts.