Pacific Life Insurance Company

On May 9, 1868, Pacific Mutual Life’s first policy was ceremonially issued to Leland Stanford, the company’s first president 1868-1876. While serving his second term as a United States Senator from California, he founded Leland Stanford, Jr. University (known today as Stanford University) as a memorial to his only son. Three weeks after the 1893 commencement, on June 21, Leland Stanford died. His business affairs were left in a tangled state – a circumstance aggravated by the panic of 1893.

On March 12, 1906, Pacific Mutual Life consolidated with Conservative Life, a young life insurance company from Los Angeles. With almost eerie foresight, additional fire insurance was placed on the Pacific Mutual home office in San Francisco, additional vaults were constructed, and older vaults were reinforced. These actions were completed by early April.

Project ’66 was a group of eight employees (a think tank of sorts) established in the year 1966 that set out to determine how an insurance company should be structured in the future. The project concluded that it would be best for the company to move from its office space in Los Angeles to a location that would enable an operations center with more space. And with the advent of the computer, Project ’66 envisioned the company going from a highly clerical staff to a more technical staff that would benefit by working in a high-tech area. In an effort to find a such community that would offer employees a high standard of living, as well as good schools for their children, management decided that Newport Beach, California-would make a perfect match for the company. The company purchased land in Newport Center surrounding the new Fashion Island shopping center in Newport Beach in 1970 and moved into its modern-design Home Office in 1972.

On July 1, 1992 Pacific Mutual Life won court approval for its proposal to rehabilitate First Capital Life. First Capital, based in San Diego, CA, had been taken over by the California Insurance Commissioner in 1991 because of concerns about the company’s investments, consumer confidence, and ultimately, its financial stability. First Capital’s assets of approximately $4 billion and its life and annuities owned by a quarter million policyholders, were merged into a new Pacific Mutual Life subsidiary, Pacific Corinthian Life. Pacific Mutual then managed the business soundly for five years before merging Pacific Corinthian into Pacific Mutual Life thus offering lifetime protection for all of the former First Capital policyholders.

In 1971 Pacific Mutual Life launched a new subsidiary, Pacific Investment Management Company (PIMCO). One of its original co-directors was then-Pacific Mutual Life employee William Gross, now a noted bond manager, and Morningstar’s 1998 and 2000 Fixed Income Manager of the Year. PIMCO offers separate account management services primarily for employee benefit plans, endowments, and foundations.

In March 1994, Pacific Mutual Life reached an agreement that outlined a merger between PIMCO’s holding company, PFAMCo, and a company that was publicly traded at that time. This reverse merger resulted in a publicly traded company called PIMCO Advisors, a holding company for PIMCO and four other investment subsidiaries. Today, PIMCO is one of the most respected names in fixed income management, due in large part to its total return approach and impressive long-term performance record, and remains a leading institutional money manager.

In September of 1997, the company launched its first ever national television advertising campaign featuring the magnificent humpback whale. In 1998, Pacific Life incorporated the humpback whale into its new logo where it serves as a prominent symbol of Pacific Life’s persistence, performance, and strength.

Life Insurance Products

The death benefit protection and policy cash value provided by permanent life insurance can be a key component in your financial plan. Pacific Life offers a variety of permanent life insurance products to help you achieve your financial planning objectives.

Variable Universal Life Insurance Products:

• Pacific Select Exec V
• Pacific Select Estate Preserver VI

Indexed Universal Life Insurance Products:

• Pacific Indexed Accumulator III
• Indexed Pacific Estate Preserver

Universal Life Insurance Products:

• Versa-Flex PRO II
• Pacific Estate Preserver III
• Versa-Flex NLG 2010
• Pacific Prime UL-NLG

Term Life Insurance Products:

• Pacific-10
• Pacific-20
• Pacific-ART
• One Year Term
• Last Survivor One Year Term
• Pacific Income Term