Manulife Financial Corp. says it has struck another deal to off-load lower-return assets through a $5.4-billion reinsurance deal.
Manulife’s Chief Financial Officer, Colin Simpson joins BNN Bloomberg to discuss the company's latest earnings and his outlook for their Asia business.
The insurer says the agreement with Reinsurance Group of America includes $2.4 billion of long-term care reserves, which can be more challenging to transfer because they're seen as higher risk. The latest deal follows two other big reinsurance deals for Manulife in the past year, including a $13-billion agreement last December that also included long-term care, and a $5.8-billion deal in March.
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