(December 14:00 ET) – Manulife Financial is negotiating with the administrators of Daihyaku Mutual Life Insurance Company to negotiate the comprehensive, exclusive transfer of Daihyaku’s existing insurance policies to Manulife Century, Manulife’s Japanese subsidiary.

The two companies aim to complete their negotiations by January 2001.

The transfer will be subject to regulatory approval and approval by Daihyaku’s policyholders. Manulife Century is currently conducting a due diligence review of the assets and liabilities of Daihyaku.
-IE Staff