Manulife releases updated statistical information package template reflecting adoption of IFRS 17 and IFRS 9

Rhea-AI Summary

Manulife Financial Corporation (MFC) announced an updated Statistical Information Package (SIP) template in preparation for its Q1 2023 financial results set for May 10, 2023. This update incorporates changes due to the implementation of IFRS 17 and IFRS 9 standards, effective January 1, 2023. The new SIP template is designed to enhance the clarity and comprehensibility of financial data presentation. A summary of the changes is also available to assist users in understanding these updates. Interested parties can access the SIP and the summary through Manulife’s investor relations website.

Positive

• Updated SIP template reflects compliance with IFRS 17 and IFRS 9, enhancing data clarity.
• Provides additional resources to assist users in understanding the changes.

Negative

• None.

C$ unless otherwise stated                                         TSX/NYSE/PSE: MFC     SEHK: 945

TORONTO, April 20, 2023 /PRNewswire/ - Manulife has released an updated template for its statistical information package (SIP), which will be used in connection with the reporting of Manulife's first quarter of 2023 financial results on May 10, 2023. The SIP has been updated primarily to reflect the adoption of IFRS 17 "insurance contracts" and IFRS 9 "financial instruments" effective January 1, 2023. An accompanying summary of changes to the SIP has also been made available to further assist users in understanding the updated presentation.

The SIP template and accompanying summary of changes are available in the IFRS 17 section of Manulife's investor relations website: manulife.com/en/investors/results-and-reports.

About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2022, we had more than 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.

Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

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SOURCE Manulife Financial Corporation

FAQ

What updates did Manulife make to its Statistical Information Package?

Manulife updated its SIP template to reflect the adoption of IFRS 17 and IFRS 9 standards.

When will Manulife report its Q1 2023 financial results?

Manulife is scheduled to report its Q1 2023 financial results on May 10, 2023.

Where can I find the updated SIP template for Manulife?

The updated SIP template is available on Manulife's investor relations website.

What is the significance of adopting IFRS 17 and IFRS 9 for Manulife?

Adopting IFRS 17 and IFRS 9 enhances the transparency and reliability of Manulife's financial reporting.