A unit of Pacific LifeCorp. is helping another insurer back a block of airline pension business.
Affiliates of Rothesay Life Ltd., London, have worked with Pacific Life Re, London, to reinsure much of the longevity risk associated with Rothesay’s insurance of 20% of the pension liabilities of the Airways Pension Scheme. The scheme is one of two defined benefit pension schemes sponsored by British Airways, according to Pacific Life Re, London.
Pacific Life is a unit of Pacific LifeCorp, Newport Beach, Calif.
Rothesay is a unit of Goldman Sachs Group Inc., New York.