Manulife Financial Corporation has agreed to reinsure CAD 5.8 billion (USD 4.4 billion) of reserves of low ROE Canadian universal life block to RGA Life
The deal with RGA Life Reinsurance Company of Canada is expected to generate $800-million of capital, which Manulife intends to use for share buybacks, it said.
Manulife strikes $5 8B reinsurance deal with RGA Life bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.