Welcome to our dedicated page for Manulife Finl news (Ticker: MFC), a resource for investors and traders seeking the latest updates and insights on Manulife Finl stock.
Manulife Financial Corporation (MFC) delivers insurance, wealth management, and retirement solutions across Canada, Asia, and the United States through its John Hancock division. This news hub provides investors and professionals with timely updates on corporate developments directly affecting market positioning and strategic direction.
Key resources include earnings reports, product innovation announcements, and regulatory filings. Users gain access to verified information about leadership changes, partnership agreements, and sustainability initiatives – all essential for assessing MFC's performance in global financial markets.
Regular updates cover digital transformation progress including AI implementation in customer service, reinsurance transactions, and expansion strategies in Asian markets. Content is curated to help stakeholders monitor operational milestones and industry trends impacting this multinational insurer.
Bookmark this page for streamlined access to MFC's official communications and third-party analyses. Combine frequent checks with portfolio reviews to maintain informed decision-making in dynamic financial markets.
AM Best has reaffirmed the Credit Ratings of
Manulife Investment Management released its third annual sustainable and responsible investing report, highlighting significant progress in ESG integration, active stewardship, and global collaboration on sustainability issues. The firm's sustainability team expanded from 16 to 25 professionals. Notably, it enhanced its proxy voting practices and was recognized in the 2020 PRI Leaders' Group for climate reporting. As of September 30, 2021, assets under management totaled CAD 1.1 trillion (USD 835 billion). The firm continues to focus on delivering positive environmental and societal impacts while meeting evolving client needs.
On November 15, 2021, Venerable Holdings announced a reinsurance agreement with Manulife Financial Corporation (NYSE: MFC) to reinsure approximately US$22 billion of variable annuity business from John Hancock. The agreement primarily involves contracts with guaranteed minimum withdrawal benefits (GMWB) issued between 2003 and 2012. This transaction is expected to increase Venerable's assets under risk management from US$71 billion to US$94 billion on a pro forma basis as of March 31, 2021, and is projected to close in Q1 2022, pending customary conditions.
Manulife announced an agreement with Venerable Holdings to reinsure over 75% of its U.S. Variable Annuity block, unlocking C$2.0 billion in capital and realizing a one-time after-tax gain of C$750 million. The transaction will decrease annual earnings by approximately C$200 million in 2022 but is anticipated to enhance shareholder value through a significant share buyback. This move reduces equity sensitivities by more than 75% and aims for core EPS growth of 10% to 12% in the medium term. The deal is set to close in Q1 2022.
On November 15, 2021, John Hancock announced an expansion of its Vitality Program with the introduction of the Apple Watch Series 7 for life insurance customers. Vitality PLUS members can obtain the watch for as low as $25 plus tax by engaging in regular exercise. The Apple Watch promotes health management by tracking fitness metrics and encouraging wellness activities. A survey indicated that 85% of users feel motivated to exercise using the watch, enhancing customer engagement with the program. John Hancock aims to support healthier living through technology and incentives.
Manulife Investment Management has unified its private markets business under a single global brand, concluding a multi-year strategy. The firm now manages US$835 billion in assets, with US$58 billion in private equity and credit, and real assets, enhancing its sustainability focus through ESG integration. Hancock Natural Resource Group is rebranded as Manulife Investment Management Timberland and Agriculture Inc. This rebranding aims to drive future growth, leveraging diverse capabilities in timberland and agriculture across multiple geographies.
Manulife Financial Corporation (MFC) has completed a successful offering of $1.2 billion principal amount of 4.10% Limited Recourse Capital Notes Series 2. The offering included the issuance of 1,200,000 Non-Cumulative Fixed Rate Reset Class 1 Shares Series 28. The Notes are backed by assets in the Limited Recourse Trust, limiting recourse for noteholders in case of non-payment. The offering was facilitated by RBC Capital Markets, Scotiabank, and TD Securities and is not registered for sale in the U.S. This financial maneuver aims to support MFC's capital structure.
John Hancock Investment Management has launched share classes A, C, I & R6 of the John Hancock Mid Cap Growth Fund following the successful merger with the John Hancock Mid Cap Stock Fund on October 15, 2021. This fund aims for long-term growth by investing at least 80% of its net assets in equity securities of mid-sized companies. Managed by Wellington Investment Management, the merger is expected to reduce expenses and enhance asset growth opportunities for shareholders.
