RGA Canada Announces Landmark CA$5.8 Billion Coinsurance Transaction With Manulife [Yahoo! Finance]
Manulife Financial Corporation (MFC)
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Source: Yahoo! Finance
America, Incorporated (NYSE: RGA), a leading global life and health reinsurer, and The Manufacturers Life Insurance Company (Manulife), a subsidiary of Manulife Financial Corporation, a leading international financial services group, announced today the completion of the largest universal life reinsurance transaction in the Canadian market to date. The coinsurance transaction will reinsure approximately CA$5.8 billion (US$4.4 billion) of reserves, accompanied by an equivalent asset transfer. This is the third large block reinsurance transaction between Manulife and RGA. "Our relationship with Manulife has spanned many years, and our strong partnership has been a key factor in the success of this transaction," said Dominic Hains, President and CEO, RGA Canada. "We greatly appreciate Manulife's ongoing trust in RGA's expertise, and we take pride in being a reliable partner and providing support for their strategic goals." "RGA's dedication to providing long-term value through tailor
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