Manulife Closes $3.2B Long-Term Care Reinsurance Deal with Munich Re
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Toronto – October 01, 2026 -- Manulife Financial Corporation has closed a reinsurance transaction transferring biometric risk on a block of long-term care policies carrying $3.2 billion in reserves to Munich American Reassurance Company, a US subsidiary of Munich Re Group.
Manulife offloads $3.2 billion in long-term care reserves to Munich Re Life US
The deal shifts biometric risk exposure tied to the long-term care block off Manulife's balance sheet and onto Munich Re Life US, a subsidiary specializing in life and disability reinsurance for North American carriers. The transaction was first announced on August 5, 2026, and has now reached formal closing.