Manulife reaches reinsurance deal worth $5.4 billion to free up capital [BNN Bloomberg (Canada)]
Reinsurance Group of America, Incorporated (RGA)
Last reinsurance group of america, incorporated earnings: 1/28 04:15 pm
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Source: BNN Bloomberg
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're seen as higher risk. Reinsurers take on the risk of insurance policies, and a chunk of their premiums, helping insurers like Manulife free up capital. The latest deal follows two other big reinsurance deals for Manulife in the past year, including a $13-billion agreement last December that also included long-term care, and a $5.8-billion deal in March. 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. Manulife says the deal should release $800 million in capital that it plans to return to shareholders through share buybacks. This report by The Canadian Press was first published Nov. 20, 2024. Companies in this story: (TSX:MFC) The Canadian Press
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News
- Reinsurance Group Stock Rises 41.6% YTD: Will the Rally Last? [Yahoo! Finance]Yahoo! Finance
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Barclays PLC from $250.00 to $255.00. They now have an "overweight" rating on the stock.MarketBeat
- Manulife's Gori Seized Retirement Before Anyone Asked Him to Go [BNN Bloomberg (Canada)]BNN Bloomberg
- Manulife reaches reinsurance deal worth $5.4 billion to free up capital [Investment Executive - News]Investment Executive - News
- Market movers: Stocks seeing action on Thursday - and why [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
RGA
Earnings
- 10/31/24 - Beat
RGA
Sec Filings
- 11/1/24 - Form 10-Q
- 10/31/24 - Form 8-K
- 10/24/24 - Form 8-K
- RGA's page on the SEC website