Manulife Financial (TSE:MFC) has released an update.
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Manulife Financial has entered a significant $5.4 billion reinsurance agreement with Reinsurance Group of America, which includes a $2.4 billion long-term care reserve transfer. This strategic move aims to optimize Manulife’s portfolio, enhancing shareholder value through an $0.8 billion capital release for share buybacks, while achieving a more efficient risk profile. The transaction demonstrates Manulife’s commitment to reshaping its business for higher returns and lower risk, appealing to investors interested in strong financial management and growth strategies.
For further insights into TSE:MFC stock, check out TipRanks’ Stock Analysis page.
