Pacific Life Announces Possible IPO of Aviation Capital Group

NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Pacific Life Insurance Company (“Pacific Life”) announced that it is considering a registered initial public offering of common stock of its wholly-owned subsidiary Aviation Capital Group (“ACG”). The goal of an IPO would be to give ACG access to additional capital as it continues to execute its growth strategy. It is expected that the net proceeds of an IPO would be used by ACG for general corporate purposes. Pacific Life intends to retain a majority equity stake in ACG after an IPO as Pacific Life’s investment in ACG remains an important component of its diversified portfolio of businesses.

This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. There can be no assurance that an IPO will be completed.