Manulife sells Taiwan life insurance operation

|About: Manulife Financial Corpo... (MFC)|By:, SA News Editor

Manulife Financial (MFC) sells its Taiwan life insurance business to CTBC Insurance for an undisclosed amount.

The sale will boost Manulife's capital ratios a bit, but is not expected to have a material impact on financial results.

The insurer's asset management business in Taiwan is a separate entity and Manulife has no current plans to sell. (PR)