Manulife announces $3.2 billion long-term care reinsurance transaction with Munich Re
Manulife agreed to reinsure biometric risk on a block of long-term care policies with $3.2 billion of reserves to Munich Re Life US, marking its third LTC reinsurance transaction in under three years. Upon closing in Q4 2026, the company expects to have cumulatively reduced its LTC morbidity sensitivity by 24% while maintaining full risk transfer without asset transfer.
Key figures
- Cede percent
- 5%
- Reserves transferred
- $3.2 billion
- Annual earnings impact
- $30 million
- Cumulative risk reduction
- 24%
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