Manulife closes milestone reinsurance transaction with global atlantic

C$ unless otherwise stated                                                                 tsx/nyse/pse: mfc     sehk: 945 toronto , feb. 22, 2024 /prnewswire/ - february 22, 2024 – manulife announced today that it has successfully closed the previously announced transaction1 to reinsure four blocks of legacy/low roe business with global atlantic. "an industry milestone, the transaction is the largest ltc reinsurance transaction ever, and our ability to transact with a leading reinsurance counterparty and its ltc reinsurance partner further validates the prudence of our ltc reserves and assumptions," said manulife president and chief executive officer roy gori.
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