Pacific Life building

Pacific Life's new building in Aksarben Village.

Pacific Life cut the ribbon on its regional business center in Aksarben Village on Monday evening.

The office will support Pacific Life’s retirement and life insurance divisions. Employees had already started moving in at the end of last year.

Pacific Life, based in Newport Beach, California, chose Omaha to house its regional office in 2004. The local office now employs 400 and will be adding 40 more, said Chairman and Chief Executive Jim Morris.

Mayor Jean Stothert and other dignitaries attended the ribbon-cutting at the center on Monday.

“The quality of employees that we have been able to attract has enhanced our service capabilities,” Morris said.

Pacific Life, which had more than $137 billion in assets at the end of last year, is an insurance and financial-services company. It’s ranked No. 387 on the Fortune 500 list of the biggest U.S. companies.

Its new office will be less of a trek for many employees, Morris said — it’s closer to most of its workforce than Pacific Life’s former downtown location.

“This new space will enable us to continue to grow our operations here in Omaha in the coming years,” he said.

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