Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Pacific Life Completes Buy Out of Manulife's Retrocession Business

Your article was successfully shared with the contacts you provided.

Pacific Life Insurance Company has announced that it has completed its purchase of Manulife Financial Corporation’s retrocession business with $106 billion in individual life reinsurance face amounts.

Pacific Life, Newport Beach, Calif., announced the deal on July 18, 2011 with Manulife, Toronto (TSX:MFC).

Reinsurance is a form of insurance for insurers; a retrocession agreement is a kind of insurance arrangement for a reinsurer. The deal gives Pacific Life a 41% share of the North American individual life retrocession market.

Nearly all of Manulife’s life retrocession employees have joined Pacific Life and will be based in Toronto and Boston. The price of the deal was not disclosed.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.