09:44 AM EST, 01/02/2025 (MT Newswires) -- Manulife Financial ( MFC ) said Thursday it has closed its reinsurance agreement with Reinsurance Group of America (RGA).

The 5.4 billion Canadian dollar ($3.74 billion) transaction, announced in November, reduces Manulife's LTC reserves by 6% and its morbidity sensitivity by 7%, Manulife Financial ( MFC ) had said at the time of deal announcement.

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