said on Monday it has agreed to reinsure $5.8-billion of reserves of Canadian Universal Life block, as the country’s top insurer looks to de-risk its business and improve shareholder returns.
The company has been seeking to cut risk in its insurance portfolio and focus on profitable areas for growth.“We remain highly focused on exploring additional organic and inorganic actions to deliver value to shareholders,” Gori added. RGA is a global reinsurance company and is an existing reinsurance partner of Manulife. The transaction marks the third large reinsurance transaction between the two companies, it said.
Source: News Formal (newsformal.com)
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