In the article, “Manulife: Insurer faces barriers to selling unprofitable John Hancock long-term care insurance business,” The Capitol Forum discusses the potential sale of Manulife’s long-term care business. While Manulife executives have said they are considering selling, it is unlikely many companies would want to take on the burden of the unprofitable business. The federal government has a vested interest in the future of the company, as it provides its’ employees’ long-term care benefits through a John Hancock subsidiary, Long-Term Care Partners.
Smith Anderson Partner Jackson Moore provides insights into the vetting process the federal government would go through before allowing a sale to be made.
To read the full The Capitol Forum article, click on the article title above.