Date Closed

August 31, 2011

Lead Office

Toronto

On August 31, 2011, Manulife Financial Corporation (Manulife) confirmed that it has closed the transaction to sell its Life Retrocession business to Pacific Life Insurance Company, based in the United States. The agreement was announced on July 18, 2011.

Manulife Financial, based in Toronto, Ontario, is a leading Canadian-based financial services group operating in 21 countries and territories worldwide.

Pacific Life Insurance Company, based in Newport Beach, California, is an insurance company providing life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life also counts more than half of the 100 largest U.S. companies as clients.

McCarthy Tétrault LLP represented Pacific Life Insurance Company, the acquiror, with a team led by Nancy Carroll.