On February 3, gelonghui – manulife-s (00945. HK) announced that its subsidiaries Hengkang life insurance company (USA) (“Hengkang”) and venerable holdings, Inc. Corporate solutions life insurance company, a subsidiary of Manulife, has completed the reinsurance transactions announced earlier on a large part of Manulife’s old variable annuity business in the United States, mainly including policies with additional protection of “guaranteed minimum withdrawal compensation”.
Gao Ruihong, President and CEO of Manulife, said: “The successful completion of this US variable annuity reinsurance transaction marks an important milestone in our efforts to optimize our old business portfolio. This transaction will help release shareholder value, bring a meaningful reduction in our future risk level, and help us turn the profitable portfolio of our business into a business with the most potential for centralized development. We are very happy to be here Such fruitful results have been achieved. “
