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 announced the acquisition of TriVista on Speer, a luxury multifamily property in Denver, Colorado, for $144.5 million. This seven-story building features 322 units with large floorplans and high-end amenities, catering to young professionals. Strategically located in the Golden Triangle neighborhood, it is over 90% occupied and provides easy access to numerous employment opportunities. The acquisition aligns with Manulife's goal to expand its real estate portfolio in economically vibrant regions.
Manulife warns investors about an unsolicited mini-tender offer from Obatan LLC to buy up to 500,000 common shares at USD$12.00 each, representing a discount of approximately 38% from recent market prices. The offer is below market value, prompting concerns as mini-tender offers can mislead shareholders. Manulife advises investors to review the offer carefully and consult with their advisors. The company is not affiliated with Obatan and does not endorse the offer.
John Hancock Retirement, part of Manulife Investment Management, has launched a new retirement app designed for plan participants. This fully transactional app allows users to enroll, view account details, and adjust contributions easily. The app aims to enhance engagement by providing personalized financial guidance, helping users set retirement goals, and reducing anxiety related to financial planning. As of March 31, 2021, John Hancock services over 52,000 retirement plans for more than 3 million participants, managing over $212 billion in assets.
John Hancock has partnered with Nasdaq Fund Network to register its collective investment trusts (CITs) on Nasdaq's platform. Each CIT will receive a unique Nasdaq ticker, enhancing their discoverability and access to information for financial professionals. Launched in response to institutional demand, these tax-exempt pooled investment vehicles aim to offer clients transparency similar to mutual funds. With assets managed by Manulife Investment Management, John Hancock manages approximately CAD$1.3 trillion.
Manulife Investment Management, a global leader in real estate asset management, announced its strategy to achieve an 80% reduction in greenhouse gas emissions for its real estate assets by 2050. The firm has implemented a comprehensive approach focusing on efficiency, fuel switching, onsite renewables, and carbon offsets. This initiative is part of a broader Climate Action Plan aiming for a 35% reduction in emissions by 2035. With real estate holdings totaling 63 million square feet, Manulife prioritizes sustainability and accountability in its operations.
On June 7, 2021, Manulife Financial Corporation reported the results of its preferred share conversion privileges. A total of 812,380 Series 3 Preferred Shares will convert to Series 4 shares on June 19, 2021, while 1,014,452 Series 4 shares will revert to Series 3 shares. Post-conversion, there will be 6,537,903 Series 3 and 1,462,097 Series 4 shares outstanding. The dividend for Series 3 will be fixed at 2.34800% annually and for Series 4 at 0.38363% for the first three months following the conversion. The shares are not registered in the U.S. under the Securities Act.
Manulife Investment Management announced enhancements to its emerging market fixed-income team, appointing Endre Pedersen as CIO, overseeing a team of 66 and managing over US$46 billion in assets. This reorganization aims to align global capabilities, improve efficiency, and strengthen investment strategies in response to demand. Additional promotions include Fiona Cheung as head of global EM fixed-income research. The firm emphasizes its century-long presence in emerging markets, aiming to capitalize on the growing demand for income opportunities.
John Hancock Investment Management has filed for an exemptive order to utilize Fidelity's proprietary active equity ETF methodology to launch new ETFs. This partnership aims to enhance investment offerings while leveraging Fidelity's expertise in semi-transparent ETF structures. With 16 ETFs and over $4.5 billion in assets under management, the firm is focusing on innovation to meet evolving investor needs. CEO Andrew G. Arnott stresses the benefits of active management, while Fidelity's Greg Friedman believes their methodology offers a leading approach for the ETF market.
John Hancock Retirement has appointed Sue Reibel as the new CEO for its U.S. retirement plan and recordkeeping business, effective June 2, 2021. Reibel succeeds Patrick Murphy, who is stepping down due to health reasons after leading the company since 2018. With over 50,000 retirement plans and 3 million participants, Reibel aims to strengthen the firm's growth strategy. She brings extensive experience from Manulife Investment Management and previously led various senior roles within the organization. John Hancock Retirement manages over $212 billion in assets under management.
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