Global Atlantic Closes $10 Billion Block Reinsurance Transaction with Manulife across both US and Japan Business [Yahoo! Finance]
Manulife Financial Corporation (MFC)
Last manulife financial corporation earnings: 2/12 05:00 pm
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Source: Yahoo! Finance
and life insurance needs of individuals and institutions, today announced the closing of its $10 billion reinsurance transaction with Manulife Financial Corporation (NYSE: MFC). The transaction, signed and previously announced between subsidiaries of the two companies last December, reinsures a seasoned and diversified block of Manulife's life, annuity, and long-term care ("LTC") insurance business originated in the US and Japan. It represents the third block transaction Global Atlantic has executed with Manulife and includes Global Atlantic's first block reinsurance transaction in Japan. General account assets under management supporting the transaction at closing are approximately $10 billion. Simultaneous to the closing of the reinsurance transaction with Manulife, Global Atlantic also closed on the retrocession of 100% of the long-term care insurance risks to a highly rated third-party global reinsurance partner. Global Atlantic only retains the underlying spread-based risks on
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MFC
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- Manulife to Release Second Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Manulife to Release Second Quarter 2024 ResultsPR Newswire
- Manulife Investment Management Sees Attractive Opportunities Outside the US Amid Anticipated Global Rate-Cutting Cycle [Yahoo! Finance]Yahoo! Finance
- Manulife Investment Management Sees Attractive Opportunities Outside the US Amid Anticipated Global Rate-Cutting CyclePR Newswire
MFC
Earnings
- 5/8/24 - Beat
MFC
Sec Filings
- 6/24/24 - Form 6-K
- 6/24/24 - Form 6-K
- 6/11/24 - Form 6-K
- MFC's page on the SEC website