NEW YORK--(BUSINESS WIRE)--New York Life has completed the acquisition, through reinsurance, of a net 60 percent interest in John Hancock Financial’s closed block, comprised primarily of participating whole life insurance policies. The transaction, which was initially announced in December 2014, has received all necessary regulatory approvals. The closed block of 1.3 million in-force policies with a face amount of more than $25 billion was established in connection with John Hancock’s demutuali