Reinsurance News
Manulife
Finch to succeed Witherington as Manulife Asia President and CEO
20th March 2025
Manulife, an international financial services provider, has announced the appointment of Steve Finch as President and CEO of Manulife Asia, effective May 9th, 2025. The executive will be succeeding Phil Witherington who has been appointed Manulife's President and CEO, also effective May 9th. Finch currently serves as Manulife's Chief Actuary and has ... Read the full article
Manulife closes $4.1bn LTC reinsurance transaction with RGA
2nd January 2025
Manulife Financial Corporation (Manulife) has announced the closure of its transaction to reinsure two blocks of legacy business, including a younger block of long-term care (LTC), with Reinsurance Group of America (RGA). The $4.1 billion reinsurance transaction was entered into between RGA and John Hancock, a subsidiary of Manulife. The transaction, which ... Read the full article
RGA to reinsure $4.1bn of Manulife subsidiary’s legacy blocks
21st November 2024
Reinsurance Group of America (RGA) and John Hancock, a subsidiary of Manulife Financial Corporation (Manulife), have entered into a $4.1 billion reinsurance transaction, including $1.9 billion of long-term care (LTC) reserves. The transaction includes the aforementioned LTC reserves and also a legacy block of U.S. structured settlements with $2.2 billion of ... Read the full article
Trisura Group reveals new senior management team
14th June 2024
Trisura Group Ltd, a specialty insurance provider operating in surety, risk solutions, and corporate insurance, announces several senior management appointments across the organisation. Richard Grant, who has been with Trisura Canada since its inception, has been appointed Chief Underwriting Officer. Initially leading the Corporate Insurance practice and most recently serving as ... Read the full article
Manulife & RGA close largest ever Canadian universal life reinsurance deal
4th April 2024
Manulife Financial Corporation has successfully closed the previously announced transaction to reinsure a low ROE Canadian Universal Life block with RGA Life Reinsurance Company of Canada. If you recall, the transaction was announced last month, with Manulife agreeing to reinsure CAD 5.8 billion (USD 4.4 billion) of reserves of ... Read the full article
Manulife & RGA complete largest ever Canadian universal life reinsurance deal
25th March 2024
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 Reinsurance Company of Canada. RGA Life Reinsurance Company of Canada, a subsidiary of global life and health reinsurer RGA, and the Manufacturers Life Insurance Company, a ... Read the full article
Global Atlantic and Manulife close $10 billion reinsurance transaction
22nd February 2024
In a significant move within the insurance industry, Global Atlantic Financial Group (Global Atlantic) and Manulife Financial Corporation have successfully finalized a $10 billion reinsurance transaction. The deal, which was initially unveiled last December and has now reached completion, involves the reinsurance of a diverse portfolio of Manulife's life, annuity, and ... Read the full article
Manulife and Global Atlantic announce $13bn reinsurance deal
11th December 2023
Manulife Financial Corporation has agreed to reinsure a combined $13 billion of reserves across four legacy/low ROE blocks to Global Atlantic and its partners. As per Manulife, the blocks include portions of U.S. LTC, U.S. structured settlements, and two Japan whole life products. The LTC block represents $6 billion, or 14% of ... Read the full article
Manulife appoints Carrie Tong as COO for Hong Kong and Macau
15th March 2023
Manulife Hong Kong has announced the appointment of Carrie Tong as its Chief Operations Officer for Hong Kong and Macau. In this role, Tong will be responsible for driving operational strategies and leading the company's core insurance operations such as underwriting, claims, policy administration and customer service functions She will be a ... Read the full article
Once again, UnitedHealth is the world’s largest insurer ranked by NPW
11th January 2023
Over 12% growth in net premiums written (NPW) in 2021 ensured that UnitedHealth Group Incorporated remains the world's largest insurance company when ranked by NPW, while global insurer Allianz sits atop the table when ranked by non-banking assets. Our directory of the World’s Largest Insurance Companies, which is ... Read the full article
Venerable & Manulife close $1.6bn variable annuity reinsurance transaction
4th October 2022
Venerable Holdings, a provider of innovative risk transfer solutions to variable annuity issuers, has announced the completion of a reinsurance transaction with Manulife Financial Corporation, a Canadian multinational insurance company and financial services provider. According to the announcement, the transaction involves the reinsurance of a block of New York variable annuity ... Read the full article
Manulife hires Aravind Srinivas as Chief Risk Officer, Asia
10th May 2022
Canadian multinational insurer Manulife has appointed Aravind Srinivas as its new Chief Risk Officer, Asia and Head of Global Product and Insurance Risk Management. His appointment is effective as of May, 9 2022. Within his new role, Srinivas will jointly report to Anil Wadhwani, President & CEO, Asia, and Rahim Hirji, Global Chief ... Read the full article
Venerable & Manulife close $22bn variable annuity reinsurance transaction
1st February 2022
Manulife Financial Corporation's subsidiary, John Hancock Life Insurance Company (U.S.A.), has completed its previously announced $22 billion reinsurance transaction with Corporate Solutions Life Reinsurance Company, a subsidiary of Venerable Holdings, Inc. The arrangement see Venerable reinsure roughly $22 billion of variable annuity business from Manulife's U.S. subsidiary John Hancock. On a pro ... Read the full article
Venerable in $22bn reinsurance deal with Manulife
16th November 2021
Venerable Holdings, Inc., a provider of risk transfer solutions to variable annuity issuers, has announced a transaction with Manulife Financial Corporation to reinsure approximately $22 billion of variable annuity business from its US subsidiary John Hancock. The reinsured business primarily comprises contracts with guaranteed minimum withdrawal benefits (GMWB), issued between 2003 ... Read the full article
Manulife partners with digital health platform dacadoo
25th March 2020
Canadian multinational insurer Manulife has announced a collaboration with dacadoo, a Swiss-based digital health platform provider, to enhance its digital offerings in Asia. Under this new partnership, dacadoo will strengthen Manulife’s existing health engagement platform, ManulifeMOVE, to help customers understand their health and develop better habits. “We are delighted to be partnering ... Read the full article
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