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 Investment Management has appointed Adam Weigold, CFA, as the new head of its municipal fixed-income team, effective September 8, 2021. With over 20 years of experience, Weigold previously managed over US$5 billion in municipal bond assets at Eaton Vance. He will oversee municipal portfolio construction and decision-making for several John Hancock funds, maintaining existing investment strategies. This strategic hire is expected to enhance the firm's capabilities in the rapidly growing municipal bond market, which exceeds $1 trillion in value.
Manulife Financial Corporation announced that its President and CEO, Roy Gori, will participate in a virtual fireside chat at the 22nd Scotiabank Financials Summit on September 9, 2021, starting at 1:30 p.m. ET. This event will be available live and will also have a replay accessible for three months via Manulife's Investor Relations website.
Manulife, trading under the symbol MFC, is a significant international financial services provider with over CAD$1.3 trillion in assets under management as of June 30, 2021.
Manulife Investment Management's Hancock Natural Resource Group announced the acquisition of over 300,000 acres of pine timberland in eastern Texas on behalf of its client, AP3. This transaction marks HNRG's fourth timberland acquisition in 2021, reinforcing its expertise in the region. With nearly 1 million acres managed in the Western Gulf and approximately 6 million acres overall, the acquisition positions HNRG to leverage favorable market conditions and timber growth. The investment aims for long-term success, capitalizing on recent mill investments.
Manulife has launched "Fuel Up Fridays," a new initiative starting September 10, encouraging employees to engage in collective learning and take afternoons off for mental health. Additionally, the company will provide over 37,000 employees with five extra personal days in 2022 to recognize their efforts during the pandemic. CEO Roy Gori emphasized the importance of supporting team well-being by fostering learning and rest. This initiative follows the earlier launch of the "Elevate" program promoting healthy living and connectivity among employees.
On August 19, 2021, John Hancock Investment Management launched the John Hancock Mortgage-Backed Securities ETF (ticker: JHMB), subadvised by Manulife Investment Management. This is the second actively managed fixed-income ETF introduced in 2021, with the first being the John Hancock Corporate Bond ETF (ticker: JHCB) in March. The new ETF aims for high current income, investing at least 80% of its net assets in mortgage-backed securities. As of June 30, 2021, John Hancock's ETF offerings grew to 17, managing nearly $5 billion in assets.
Manulife Investment Management, through Rio Verde Holding Ltda., acquired two eucalyptus plantation companies in Mato Grosso do Sul from Copa Gestão de Investimentos Ltda. for sustainable forestry management. This acquisition expands Manulife’s timberland portfolio in Brazil, vital for meeting the rising demand for bleached eucalyptus kraft pulp. The plantations leverage state-of-the-art technology, enhancing growth and sustainability. With this, Manulife manages around 5.7 million acres of timberland globally, emphasizing its commitment to responsible investing.
Manulife Investment Management announced the appointment of Bryony Deuchars as a senior investment analyst and Talib Saifee as a portfolio manager within its emerging markets equity strategies. Effective August 16, 2021, Deuchars brings over 20 years of experience, enhancing the firm's capabilities in this sector. Saifee's promotion takes effect on September 1, 2021. These moves are part of Manulife's strategy to meet growing client demand in emerging markets, where it currently manages over $90 billion in assets. The firm emphasizes its commitment to integrating ESG principles into its investment processes.
Manulife warns shareholders against an unsolicited mini-tender offer by Obatan LLC to purchase up to 500,000 common shares at USD$12.00 each, a 37.30% discount to recent closing prices. The company emphasizes that it is not affiliated with Obatan and does not endorse the offer. Manulife advises shareholders to compare the offer price with current market prices and to consult with investment advisors. The mini-tender offer is under scrutiny due to concerns about investors potentially accepting below-market valuations.
Manulife Investment Management has acquired 89,800 acres of timberland in Maine to enhance its climate action strategy. This impact-first investment, aimed primarily at carbon sequestration, is expected to aid the firm's net zero commitments. The timberlands are projected to store carbon while also offering opportunities for sustainable practices and recreation. This acquisition reinforces Manulife's commitment to integrating natural climate solutions into its investment portfolio.
Manulife's Board of Directors has announced quarterly dividends for non-cumulative preferred shares, payable on or after September 19, 2021. Shareholders of record as of August 17, 2021 will receive varying dividends based on share class, including:
- Class A Shares Series 2 - $0.29063 per share
- Class A Shares Series 3 - $0.28125 per share
- Class 1 Shares Series 3 - $0.14675 per share
- Class 1 Shares Series 4 - $0.095908 per share
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