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Manulife Financial-S (00945.HK) announced a reinsurance trade of 5.4 billion Canadian dollars with RGA, which involves a long-term care insurance business of 2.4 billion Canadian dollars.
On November 21, Glonghui reported that manulife financial-S (00945.HK) announced today that, on November 20, 2024 (Toronto time), it has reached a reinsurance agreement with reinsurance group of america for CAD 5.4 billion, which includes CAD 2.4 billion in LTC reserves. The company will reinsurance a total of CAD 5.4 billion in reserves for two groups of existing businesses to RGA. These two business groups involve part of the usa LTC business and the usa structured settlement arrangements. The LTC business accounts for CAD 2.4 billion.
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