NEWPORT BEACH, Calif. - (Business Wire) Pacific Life announced today that Douglas “Doug” D. Abbey has been elected to the boards of Pacific Mutual Holding Company and Pacific LifeCorp, the parent companies of Pacific Life Insurance Company. Mr. Abbey co-founded the real estate firm AMB Property Corporation (NYSE: AMB) in 1983, retiring from day-to-day operations in 2005. During his 22 year tenure with AMB, he led the firm’s real estate research, asset management, and new business development activities. AMB, headquartered in San Francisco, CA, invests in industrial properties and owns, operates, and manages a global portfolio totaling more than 156 million square feet. While at AMB, he helped launch IHP Capital Partners, an investment firm providing capital to land developers and home builders. Mr. Abbey has served on the board of IHP since 1992 and is a member of the firm’s Investment Committee.
Since 2005, Mr. Abbey has taught real estate investment at the Stanford Graduate School of Business. He continues to be involved with the Urban Land Institute (ULI), which is dedicated to providing education and research to the real estate industry. Mr. Abbey is currently a Trustee of the organization and past Vice Chairman. In addition, Mr. Abbey is a board member of CrediFamilia, Avanath Affordable Capital, the Fisher Center for Real Estate and Urban Economics at UC Berkeley, and Bridge Housing Corporation. He is a graduate of Amherst College and has a Masters in City Planning from the University of California, Berkeley.
“In addition to Doug’s considerable expertise and leadership in the real estate field, he brings experience as an executive who has built and run a successful financial services business,” said Jim Morris, chairman, president and CEO of Pacific Life. “He will be an excellent addition to our boards.”
About Pacific Life
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. With more than half of the 100 largest U.S. companies as its clients, Pacific Life is also a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities. For additional company information, including current financial strength ratings, visit Pacific Life online at www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of April 2009 is compiled by Pacific Life using the 2009 FORTUNE 500® list.
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Pacific Life
Tennyson Oyler, (949) 219-3248
TOyler@PacificLife.com
