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Manulife Financial Agrees To Reinsure To Global Atlantic Four Blocks Of Legacy/Low Roe Business, Including C$6B Of Long-Term Care Reserves

Author: Benzinga Newsdesk | December 11, 2023 07:54am

The company will reinsure a combined C$13 billion of reserves across four legacy/low ROE blocks to Global Atlantic and its partners. The transaction is expected to release $1.2 billion of capital and Manulife intends to return the full amount of freed up capital to shareholders via share buybacks.

Posted In: MFC


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