MANULIFE FINANCIAL CORP

Subsidiary Munich American Reassurance has formally completed a reinsurance agreement with Manulife on a block of policies with actuarial reserves of CAD 3.2 billion and will assume 80% of the reinsurance retroactive to July 1. The effect on results depends on future claims and cost developments and cannot be precisely quantified from the key figures. From a chart-technical perspective Munich Re is in a delicate phase: the share at times fell to €493.10, has reclaimed the 100-day line and would now need to overcome the area around €515 (GD200 ≈ €514.80) to consolidate the recovery. » Plus sur deraktionaer.de

Manulife has announced pricing for a public offering of $750 million subordinated notes due September 11, 2041. The notes are being issued at par and pay a fixed rate of 6.146% until September 11, 2036; thereafter the rate will reset to the CMT rate plus 1.350% until final maturity. The securities are intended to qualify as regulatory Tier-2 capital and are callable under certain conditions and subject to approval by the Superintendent of Financial Institutions. Net proceeds are for general corporate purposes, including possible refinancing; BofA Securities, Citigroup, J.P. Morgan and Morgan Stanley are acting as joint book‑running managers. » Plus sur de.investing.com

Manulife reported Q2 APE sales up 21%, core earnings up 12% and core EPS up 16%, driven by record Asia results and CAD 4 billion of global wealth-management net inflows. Canadian APE rose 23% but Canadian core earnings fell 10% due to unfavorable group and disability claims; management expects insurance experience to trend toward neutral by end-2026 and can reprice group business. The company agreed with Munich Re to cede 80% of biometric risk on CAD 3.2 billion of long-term care reserves, reducing long-term care morbidity risk by 24% overall. Manulife ended the quarter with a 136% LICAT ratio, returned CAD 1.4 billion to shareholders in the quarter and reiterated capital and ROE targets. » Plus sur finance.yahoo.com