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TORONTO - Manulife Financial Corp. has signed a reinsurance deal with Global Atlantic that it says will free up $1.2 billion in capital that it plans to use to buy back shares.
The deal will free up $1.2-billion in capital and allow the company to buy back up to approximately 2.8 per cent of common shares starting in February, 2024.
Manulife Financial Corp. has signed a reinsurance deal with Global Atlantic that it says will free up $1.2 billion in capital that it plans to use to buy back shares. The Toronto-based insurer says it is reinsuring $13 billion of reserves to Global Atlantic and its partners.
MANULIFE Financial Corp. saw core net income for the third quarter (Q3) soar by 28 percent to $1.7 billion on a constant exchange rate basis from $1.3 billion a year earlier.
TORONTO - Manulife Financial Corp. says its net income rose in the third quarter from last year, supported especially by business growth in Asia.