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Monday, April 15, 2024

Manulife makes additions to board of administrators

Manulife has introduced that Mike Durland and Don Kanak have each been appointed to its board of administrators.

As well as, Anna Manning and John Wong have been nominated for election as administrators of Manulife.

Durland is a former senior government at The Financial institution of Nova Scotia, holding a lot of senior roles of their capital markets division, together with group head and CEO, world banking and markets. At present, he’s CEO of Melancthon Capital Company

Kanak, most not too long ago, held a number of senior roles with Prudential Holdings (a part of Prudential). He finally served as chairman, insurance coverage development markets and chairman, Prudence Basis and, previous to that, chairman, Eastspring Investments and chairman of Prudential Company Asia.

“Mike, Don, Anna and John convey abilities and expertise crucial to supporting the Board of Administrators’ efficient oversight of Manulife given its development ambitions and strategic priorities,” mentioned Don Lindsay, Chair of the Board, Manulife.

“They’re completed executives who convey a wealth of expertise, together with within the monetary providers and insurance coverage industries, in addition to intensive world and Asia market information. We’re lucky to have them be a part of the Board.”

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By GlobalData

In February 2024, International Atlantic Monetary Group closed its $10bn reinsurance cope with Manulife.

Beforehand introduced in December, the transaction reinsures a seasoned and diversified block of Manulife’s life annuity and long-term care insurance coverage enterprise that started within the US and Japan.

As well as, that is the third block transaction International Atlantic has executed with Manulife and can be International Atlantic’s first block reinsurance transaction in Japan.

Moreover, International Atlantic additionally closed on the retrocession of 100% of the long-term care insurance coverage dangers to a extremely rated third-party world reinsurance associate.

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