Welcome to our dedicated page for Manulife Financial news (Ticker: MFC), a resource for investors and traders seeking the latest updates and insights on Manulife Financial stock.
Manulife Financial Corporation (NYSE: MFC, TSX: MFC) is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario. Known for its extensive global presence, Manulife operates across Canada and Asia under the Manulife brand, and in the United States primarily through John Hancock Financial.
Manulife offers a variety of products including life insurance, annuities, and asset management solutions for both individuals and group customers. The company boasts an investment management unit that contributes approximately 20% of its earnings, managing around CAD 1.05 trillion in assets as of the end of 2023. The U.S. segment, operating as John Hancock, focuses on insurance products for estate, business, and income protection, contributing about 27% of Manulife's earnings. The Asian segment provides insurance and wealth accumulation products in over 11 countries, contributing around 30% to the company's earnings, while the Canadian segment contributes approximately 23%.
Manulife has recently achieved significant milestones, including closing a major reinsurance transaction with Global Atlantic, marking the largest long-term care (LTC) reinsurance deal in history. This transaction has unlocked capital which will be returned to shareholders via share buybacks. Additionally, the company has entered into a landmark Universal Life reinsurance agreement with RGA Life Reinsurance Company of Canada, releasing CAD 5.8 billion in reserves.
In 2024, Manulife has expanded its digital initiatives, enhancing customer experience through innovative tools like M-Pro in Vietnam and JHINI in the U.S. The company has also formed significant partnerships, including a fund-raising collaboration with the Indonesian Investment Authority and a multi-year research collaboration with MIT AgeLab focused on longevity innovation.
Manulife's commitment to sustainability is evident through its investment management arm, which oversees 5.4 million acres of timberland and 400,000 acres of farmland, all managed under rigorous sustainability standards.
As of the end of 2023, Manulife employed over 38,000 people and had more than 98,000 agents, serving over 35 million customers worldwide. The company trades on the Toronto, New York, and Philippine stock exchanges under the symbol 'MFC' and on the Hong Kong Stock Exchange under '945'. For more information, visit manulife.com.
Manulife Financial Corporation reported its third quarter 2021 results, showing a net income of $1.6 billion, down $476 million from Q3 2020. Despite this decline, core earnings increased 10% year-over-year to $1.5 billion, driven by higher net fee income and new business gains. New business value was $539 million, up 22%, while annualized premium equivalent sales rose 5% to $1.4 billion. Global Wealth and Asset Management net inflows reached $9.8 billion, a significant improvement from last year's outflows.
On October 29, 2021, John Hancock Premium Dividend Fund (NYSE: PDT) announced a monthly distribution of $0.0975 per share, payable to all shareholders on record as of October 12, 2021. This distribution is part of the Fund's managed distribution plan, which aims to provide consistent monthly payments. The distribution sources include 60% from net investment income and a return of capital, indicating that part of the distribution may be a return of the shareholders' investments. The total cumulative distributions for the fiscal year have reached $1.1688 per share.
The John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) has announced a monthly distribution of $0.1380 per share, payable on October 29, 2021. Shareholders of record as of October 12, 2021 will receive this distribution, part of a managed distribution plan. The distribution sources include 53% from net investment income, 10% from net realized long-term capital gains, and 37% as return of capital. For fiscal year-to-date, total cumulative distributions amount to $1.6557 per share, with a current distribution rate of 6.85%.
Manulife Financial Corporation (MFC) is set to release its third quarter 2021 financial results after market close on November 3, 2021. The results will be available on their investor relations website. A live webcast and conference call with key executives, including CEO Roy Gori and CFO Phil Witherington, is scheduled for November 4, 2021 at 8:00 a.m. (ET). Interested parties can access the call via phone, and a replay will be available until February 4, 2022. Manulife operates globally with CAD$1.3 trillion in assets under management.
Manulife Investment Management has closed its second private equity co-investment fund, Manulife Co-Investment Partners II, L.P. (MCIP II), with commitments totaling US$683.5 million, surpassing its initial US$600 million target. The fund primarily targets North American middle market companies and is backed by a diversified global investor base. With a strong track record in private equity, Manulife has invested over US$2 billion across 100 co-investments, reinforcing its expertise in the market.
Manulife Investment Management signed a significant 1,000,000 square foot lease with CJ Logistics America at the Locust Grove Distribution Center in Georgia. The facility, part of a 311-acre business park, features state-of-the-art design including 36' clear heights and 146 dock doors. This strategic move expands Manulife's industrial portfolio in a robust market characterized by low vacancy rates and strong rental growth. With assets under management totaling CAD $1.0 trillion (US $834 billion) as of June 30, 2021, the company continues to leverage its global platform for growth.
John Hancock Investment Management has announced a 5 basis point fee reduction for its $12 billion John Hancock Disciplined Value Fund, effective October 1, 2021. This reduction is part of a broader initiative, resulting in fee cuts on over $20 billion in assets under management (AUM) this year. The portfolio aims to outperform in volatile markets, with a management team from Boston Partners. Over the past decade, the fund platform has seen a CAGR of over 15%. As of June 30, 2021, Manulife Investment Management's total AUM reached CAD$1 trillion (US$834 billion).
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