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.
On March 25, 2021, at 2:10 PM EDT, Steve Finch, Chief Actuary of Manulife, will participate in a fireside chat at the National Bank Financial 19th Annual Financial Services Conference. The event aims to discuss the company's financial services and future directions. Manulife, trading under the symbol MFC on multiple exchanges, is a prominent financial services group providing advice, insurance, and asset management solutions. It serves over 30 million customers globally, managing approximately $1.3 trillion in assets.
On March 23, 2021, Hancock Natural Resource Group, part of Manulife Investment Management, acquired 12,874 hectares of eucalyptus plantations in Mato Grosso do Sul, Brazil, from AMATA. This strategic investment enhances their portfolio in private markets, particularly in timber and agriculture. The acquisition aligns with growing demand for bleached eucalyptus kraft pulp. AMATA aims to accelerate its new business unit, AMATA Urbem, focusing on engineered wood products. This marks HNRG's second acquisition in South America in 2021, following a majority stake in Chilean fruit exporter, David Del Curto S.A.
On March 23, 2021, John Hancock, the U.S. division of Manulife (MFC), announced that life insurance policyholders in the Vitality Program will receive 400 Vitality Points for proof of COVID-19 vaccination. This initiative aims to promote health and vaccine acceptance among members. Vitality Points can lead to discounts on premiums, travel, retail, and health-related products. The program emphasizes proactive health management, with the company stating that such initiatives are crucial for customer well-being post-pandemic.
Manulife Financial Corporation has received an unsolicited mini-tender offer from Obatan LLC to purchase 500,000 common shares at USD$13.00 each, representing approximately 0.026% of the total shares outstanding. This offer is significantly below the market price, with discounts of up to 40.20%. Manulife advises shareholders against this offer, urging them to compare it with current market prices and consult investment advisors. The mini-tender offer is designed to evade standard regulatory requirements, raising concerns from the SEC and CSA regarding investor awareness.
John Hancock Retirement has launched a new plan design analysis dashboard aimed at enhancing retirement plan readiness. This dashboard allows for detailed analysis of sponsor match structures and contribution scenarios, helping sponsors visualize the impact on participant income replacement ratios and associated costs. The tool utilizes real participant data, enabling collaborative decision-making between sponsors and financial professionals. Although results are hypothetical and subject to market fluctuations, the dashboard is designed to facilitate informed plan design decisions.
Manulife Investment Management has appointed Joshua Liebow and Mateusz Szwarc as co-heads of junior credit for private markets. This leadership role aims to enhance the development of specialized funds and investment products for the global institutional client base. Both Josh and Matt bring extensive experience, having previously served as Managing Directors in equity co-investments and junior credit. As of December 31, 2020, Manulife Investment Management managed CAD$966 billion (US$758 billion) in assets.
Manulife Financial Corporation has received a favorable ruling from the Saskatchewan Court of Appeal regarding the Mosten Investment LP case. The court confirmed that unlimited deposits into universal life insurance contracts are prohibited, affirming that deposits must relate to premium payments. Manulife expressed confidence that the decision would not materially impact its business, reinforcing its operational stability.
John Hancock Retirement's 2021 study indicates that retirement readiness among participants remained relatively stable despite COVID-19's financial impact. From September 30, 2019, to the same date in 2020, the readiness rate dipped slightly from 49.6% to 47.9%. Average account balances reflected market trends, with younger participants seeing a 5.1% return, while those aged 60+ experienced a 2.6% decrease. The study highlights the importance of auto-enrollment and planning tools, which boosted contributions among participants. Challenges persist as 3.4% withdrew funds under the CARES Act, potentially jeopardizing future savings.
Manulife Financial Corporation (MFC) has completed a $2 billion offering of 3.375% Limited Recourse Capital Notes Series 1. In conjunction with this, MFC issued 2,000,000 Non-Cumulative Fixed Rate Reset Class 1 Shares Series 27, managed by Computershare Trust Company as the trustee of a new Limited Recourse Trust. Investors will have limited recourse to trust assets in case of default. The offering was conducted by a syndicate led by RBC Capital Markets and others, and the securities will not be registered under U.S. securities laws.
Manulife Financial Corporation (MFC) announced a plan to issue $2 billion in principal amount of 3.375% Limited Recourse Capital Notes Series 1. The issuance aligns with their strategy to bolster capital resources. The notes will have a maturity date of June 19, 2081, with interest resetting every five years. MFC will also issue 2,000,000 Non-Cumulative Fixed Rate Reset Class 1 Shares Series 27 to safeguard noteholder interests. Proceeds will be utilized for general corporate purposes. The offering is expected to close on February 19, 2021.
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