Manulife posts higher Q2 profit, strikes $3.2B reinsurance deal with Munich Re

The insurer's core earnings rose to $1.92 billion as Asia and U.S. segments drove growth, while the new long-term care pact marks the third such transaction in under three years.

By Handelsavisen Newsroom · Automated 6 August 2026, 12:51 UTC · 1 min read

Manulife Financial reported a rise in second-quarter profit on Wednesday, bolstered by robust performance across its Asian and U.S. operations.

The Canadian insurer posted core earnings of $1.92 billion, or $1.09 per share, for the three-month period.

Alongside the financial results, Manulife announced a $3.2 billion reinsurance agreement with Munich Re.

The deal focuses on long-term care coverage and represents the third major transaction of its kind for the insurer in less than three years, signaling a continued strategy to transfer longevity risk to specialized partners.

The partnership with Munich Re comes as the German reinsurer reviews its own revenue targets for the reinsurance segment.

Munich Re’s chief financial officer, Andrew Buchanan, has previously indicated that pricing pressures persisted during the latest round of contract renewals, prompting a reassessment of segment expectations.