Reinsurance News
Manulife
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
Manulife partners with insurtech Blink on parametric flight insurance
27th August 2019
Canadian multinational insurer Manulife has signed an agreement that will see a suite of parametric travel disruption insurance solutions, provided by travel insurtech Blink, to its customers. Blink's solutions offer a real-time service designed to ease the stress of a flight delay or cancellation by providing instant payment when a flight ... Read the full article
PartnerRe strikes second longevity reinsurance deal with Manulife
14th May 2019
Bermudian reinsurer PartnerRe has completed a second deal with The Manufacturers Life Insurance Company (Manulife) to reinsure longevity risk for an in-force block of Canadian individual payout annuities. The announcement follows an earlier transaction with Manulife this year, which saw PartnerRe reinsure the longevity risk of roughly 25,000 annuitants. The new ... Read the full article
PartnerRe strikes deal with Manulife to reinsure longevity risk of 25,000 annuitants
14th March 2019
Bermuda-based reinsurer PartnerRe has entered into a transaction with The Manufacturers Life Insurance Company (Manulife) to reinsure longevity risk from an in-force block of Canadian group payout annuities. In aggregate, the deal will see PartnerRe reinsure the longevity risk of roughly 25,000 annuitants. Manulife recently wrapped up a deal with RGA ... Read the full article
RGA strikes deal with Manulife to reinsure longevity risk of 45,000 annuitants
14th February 2019
RGA Life Reinsurance Company of Canada (RGA Canada), a subsidiary of global life and health reinsurer RGA, has announced the completion of a transaction with The Manufacturers Life Insurance Company (Manulife) that will see it reinsure longevity risk from an in-force block of Canadian group payout annuities. In aggregate, RGA Canada ... Read the full article