Manulife Financial Corporation's subsidiary, Manulife (International) Limited, has completed the sale of its life insurance business in Taiwan to CTBC Life Insurance Co., Ltd.

Manulife said that completion of this transaction was expected to increase the minimum continuing capital and surplus requirements ratio of Manulife Financial's operating subsidiary, The Manufacturers Life Insurance Company, by approximately three percentage points. The company said that the transaction was not expected to have a material impact on Manulife Financial Corporation's consolidated financial results.

Manulife Financial is a Canada-based financial services group with principal operations in Asia, Canada, and the United States. The company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.