{"id":497141,"date":"2024-11-21T10:43:42","date_gmt":"2024-11-21T15:43:42","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/?p=497141"},"modified":"2024-11-21T10:45:55","modified_gmt":"2024-11-21T15:45:55","slug":"manulife-reaches-reinsurance-deal-worth-5-4-billion-to-free-up-capital","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/industry-news\/manulife-reaches-reinsurance-deal-worth-5-4-billion-to-free-up-capital\/","title":{"rendered":"Manulife reaches reinsurance deal worth $5.4 billion to free up capital"},"content":{"rendered":"<p><span class=\"es-highlight\">Manulife<\/span>\u00a0Financial Corp. says it has struck another deal to off-load lower-return assets through a $5.4-billion reinsurance deal.<\/p>\n<p>The insurer says the agreement with Reinsurance Group of America includes $2.4 billion of long-term care reserves, which can be more challenging to transfer because they&#8217;re seen as higher risk.<\/p>\n<p>Reinsurers take on the risk of insurance policies, and a chunk of their premiums, helping insurers like\u00a0<span class=\"es-highlight\">Manulife<\/span>\u00a0free up capital.<\/p>\n<p>The latest deal follows two other big reinsurance deals for\u00a0<span class=\"es-highlight\">Manulife<\/span>\u00a0in the past year, including a $13-billion agreement last December that also included long-term care, and a $5.8-billion deal in March.<\/p>\n<p>Chief executive Roy Gori says in a statement that the company is unlocking shareholder value with a second long-term care deal to help it shift its portfolio towards higher return and lower risk.<\/p>\n<p><span class=\"es-highlight\">Manulife<\/span>\u00a0says the deal should release $800 million in capital that it plans to return to shareholders through share buybacks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The insurer is off-loading lower-return assets<\/p>\n","protected":false},"author":186571,"featured_media":449527,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2312,2318],"tags":[],"yst_prominent_words":[1693,1811,4875,5081,5159,5803,6761,11963,12095,29423],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/497141"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/186571"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=497141"}],"version-history":[{"count":3,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/497141\/revisions"}],"predecessor-version":[{"id":497144,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/497141\/revisions\/497144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media\/449527"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=497141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=497141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=497141"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=497141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}