Pacific Life
Pacific Life Insurance Company was formed in 1868 as Pacific Mutual with former Governor Leland Stanford as its first president. By 1905, PM was operating in 40 states. The company survived the two great world wars and in 1959, Pacific Mutual restructured as a policyholder-owned mutual company. After they marked their 100th anniversary, the company grew and more types of policy were introduced. In 1995, Pacific Mutual with its subsidiaries and affiliated enterprises exceeded $100 billion in assets and fund. Two years later, they converted to a mutual company holding and was renamed to Pacific Life.
Pacific Life offers different products for its clients. These include annuities, 529 college savings plan, life insurance, mutual funds and products & services for small businesses among others. Its financial rating remains to be strong with an A++ (Superior) from A.M. Best, AA (Very Strong) from Fitch, AA (Very Strong) from Standard and Poor’s and Aa3 or Excellent from Moody’s Investor Service. Pacific Life is also a proud member of the IMSA or the Insurance Marketplace Standards Association where every member company follows a specific set of standards in their advertising, sales, and service for their products.
Pacific Life continues to be in the Fortune 500 list and over the last five years, the company has grown from the 23rd to the 14th largest life insurance company in the nation. With the success of Pacific Life, the company continues to give back to the community through its Pacific Life Foundation. A staggering $5.3 million annually are given to its various charitable programs. Their employees are also committed to do their share and volunteers to the different activities geared towards community involvement.
