OTTAWA (dpa-AFX) - RGA Life Reinsurance Company of Canada or RGA Canada, a unit of Reinsurance Group of America, Incorporated (RGA), and The Manufacturers Life Insurance Company, a subsidiary of Manulife Financial Corporation announced the completion of life reinsurance transaction. The coinsurance transaction will reinsure approximately $4.4 billion of reserves, accompanied by an equivalent asset transfer.
This is the third large block reinsurance transaction between Manulife and RGA. Manulife will continue to administer all policies as part of the arrangement. The effective date of the transaction is April 1, 2024.
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