Letter to Policyholders and clients

We successfully grew our product offerings and distribution reach within our retail and institutional businesses and expanded into new areas. We developed cutting-edge capabilities through investments across the enterprise and have maintained an unwavering focus on creating world-class experiences that ensure we remain the partner of choice by meeting the evolving expectations of policyholders, distribution partners, and clients. 

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Consumer Markets
  • Transformed the life insurance underwriting process, leading to an improved overall success rate of almost double.
  • Expanded distribution with the launch of a new variable annuity exclusively for customers of Fidelity Investments®, one of the world’s leading financial services firms.
  • Awarded DALBAR Financial Intermediary Service Award for the 19th consecutive year—10th consecutive year ranked #1 among annuity companies—and DALBAR Insurance Service Award for the 6th consecutive year for life insurance. This further exemplifies our commitment to providing unparalleled customer service experiences.
  • Selected as provider of choice for the Qualifying Longevity Annuity Contract (QLAC) option in Wespath Benefits and Investments’ LifeStage Retirement Income program. The QLAC is part of a unique collaboration that provides enhanced lifetime income security for participants protecting them against the risk of outliving their savings.
  • Upgraded administration platform, enabling the business to better meet market demands for digital capabilities and product innovation while scaling core business functionality with productivity improvements. This enhancement has provided outstanding customer service and financial security to over 200,000 pension risk-transfer participants.
  • The Institutional business continued to build intellectual capital, focusing on diversity and talent passionate about innovation. In 2022, the group’s remarkable growth culminated in a 167% overall increase from 2019, with teams in Newport Beach, California; Omaha, Nebraska; and remote locations across the United States.
Global Reinsurance
  • Named Re/Insurer of the Year in the 2023 InsuranceERM UK & EMEA Awards
  • Launched new corporate center domiciled in Bermuda providing the ability to consolidate risk across our global business, and maximizing diversification benefits
  • Continued expansion into the funded reinsurance market for both longevity and asset risks associated with pension liabilities, with the first deal directly written into the new Bermuda risk carrier


Throughout 2022 we continued to build upon our position of strength as a leading insurer by offering exceptional products and services to the customers we serve.

Meeting the Moment

For more than 150 years, Pacific Life has remained steadfast in delivering on its promise to be there for our policyholders when they need us most. As a mutual holding company, we have the benefit of long-horizon thinking, which aligns with our products and services, and allows us to invest in and focus on the needs of the future. We are focused on markets and areas that present growth opportunities across our businesses while continuing an unwaivering prioritization of the needs of our customers.


Senior Customer Service Specialist, Pacific Life 

"Customer focus is a core value of Pacific Life and a personal passion that is integral to my role in customer service. Our relationship with policyholders and financial professionals is a key driver of our business. This level of care and emphasis on the customer is important to ensure we are providing the best experience and that their needs are met, ultimately making it easier to do business with us and to be a preferred go-to partner.”

RIA Senior Wholesaler, Pacific Life 

"Innovation is one of Pacific Life’s core values that excites me and that I lead with every day in my role. Previous barriers and misinformation have made some clients resistant to annuities. Pacific Life created new products and technology that eliminated those barriers and empower advisors to provide the income that many clients need as part of a financial plan in retirement.”

Regional Sales Manager, Pacific Life

"Paramount to our sales success is not only gaining an in-depth knowledge of our clients’ needs and objectives, but also ensuring we deliver a level of customer service that consistently exceeds expectations and leaves financial professionals confident in a long-term partnership with Pacific Life. Customer focus and satisfaction are not only core values, they are also  core to our mission.”


Senior Annuity Service Coordinator, Pacific Life 

"I treat each customer with a unique perspective to fit their specific needs, which is why customer focus is a core value that resonates so deeply with me. From working on a website team dedicated to improving the customer experience, to assisting customers directly and ensuring quality expectations are met, I do my best to exemplify the gold standard that Pacific Life adheres to.”

Our Board & Senior Management

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Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2022 is compiled by Pacific Life using the 2022 FORTUNE 500® list.

* Includes retail mutual funds sales.
** “World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC.

Life insurance rankings are from the 2022 Confidential Sales Survey of Participating Companies by LIMRA. Pacific Life Insurance Company  sales are based on planned recurring premiums as measured against 69 participating companies. Structured settlement sales ranking  from U.S. Individual Annuities Sales Survey by LIMRA, as of December 31, 2022.

Pacific Life Insurance Company, an indirect wholly owned subsidiary of Pacific Mutual Holding Company, is licensed in the District of Columbia and all states except New York.  In New York, individual life insurance and annuity products are available through Pacific Life & Annuity Company, a subsidiary of Pacific Life Insurance Company. Product availability and features vary by state. Insurance product and rider guarantees are backed by the financial strength and claims-paying ability of the issuing company and do not protect the value of the variable investment options. Each company is solely responsible for the financial obligations accruing under the policies it issues. Variable products are issued by Pacific Life Insurance Company and Pacific Life & Annuity Company. These products and mutual funds are distributed by Pacific Select Distributors, LLC (member FINRA and SIPC), a subsidiary of Pacific Life Insurance Company and an affiliate of Pacific Life & Annuity Company, and are available through licensed third-party broker-dealers. In order to sell life insurance products, a financial professional must be a properly licensed and appointed life insurance producer. For current financial strength ratings, please visit us online at www.PacificLife.com/Ratings.

To view a copy of Pacific Mutual Holding Company’s 2022 audited GAAP consolidated financial statements, please visit www.PacificLife.com/Financials.


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