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 has submitted its audited annual financial statements for the year ending December 31, 2020, alongside its Management Discussion and Analysis (MD&A). This filing was done with securities regulators in Canada and the U.S. and is accessible on the company’s website. As of December 31, 2020, Manulife reported $1.3 trillion in assets under management and administration and made $31.6 billion in payments to its customers in the past year. The company operates primarily in Canada, Asia, and the U.S., serving over 30 million customers with a workforce exceeding 37,000 employees.
On February 10, 2021, Manulife Financial Corporation announced quarterly dividends for its non-cumulative preferred shares, payable on or after March 19, 2021. Shareholders of record by February 23, 2021, will receive the following amounts per share: Class A Shares Series 2 - $0.29063, Series 3 - $0.28125; Class 1 Shares Series 3 - $0.136125, Series 4 - $0.092465, Series 5 - $0.243188, Series 7 - $0.2695, Series 9 - $0.271938, Series 11 - $0.295688, Series 13 - $0.275875, Series 15 - $0.236625, Series 17 - $0.2375, Series 19 - $0.229688, Series 21 - $0.35, Series 23 - $0.303125, Series 25 - $0.29375.
Manulife Financial Corporation's Board of Directors declared a quarterly dividend of $0.28 per share on common shares, payable on or after March 19, 2021. Shareholders of record by the close of business on February 23, 2021 will receive this dividend. The Company will utilize its Canadian and U.S. Dividend Reinvestment and Share Purchase Plans to purchase common shares on the open market. As of December 31, 2020, Manulife managed $1.3 trillion in assets and served over 30 million customers globally, reinforcing its status as a leading financial services group.
Manulife Financial Corporation reported a net income attributed to shareholders of $5.9 billion for 2020, increasing by $0.3 billion from 2019, with $1.8 billion in 4Q20. However, core earnings declined to $5.5 billion, down $0.5 billion from the previous year.
Despite a strong LICAT ratio of 149%, new business value (NBV) dropped by 13% year-over-year, and annual premium equivalent (APE) sales fell 8%. Manulife achieved $8.9 billion in global wealth and asset management net inflows, contrasting a $0.9 billion outflow in 2019.
Hancock Natural Resource Group, part of Manulife Investment Management, has acquired a majority stake in Chilean fruit production and export firm David Del Curto S.A. This acquisition diversifies Manulife's agricultural portfolio under its Farmland Plus initiative. DDC operates over 11 farms and three packing facilities, producing a variety of fruits and managing significant sales relationships in global markets. The acquisition aims to expand operations and enhance marketing partnerships, leveraging DDC's strong market position and the expertise of its existing management team.
Manulife Investment Management's Global Intelligence report forecasts a promising global economic recovery, focusing on COVID-19's impact on sustainable investing and fixed income strategies. Key insights reveal a K-shaped recovery, rising inflation, and opportunities in Asian fixed income. The report emphasizes the growing demand for ESG investments, particularly in light of the Paris Agreement, while also highlighting the importance of flexibility in real estate investments. As of September 30, 2020, the firm manages CAD$923 billion (US$692 billion) in assets.
Manulife Financial Corporation (MFC) will announce its fourth quarter and year-end 2020 financial results on February 10, 2021, after market close. A conference call to discuss the results will take place on February 11, 2021, at 8:00 a.m. ET, featuring CEO Roy Gori and CFO Phil Witherington. Interested parties can access the call via phone or through a live webcast. The company, headquartered in Toronto, Canada, reported $1.3 trillion in assets under management as of September 30, 2020, and provided $31.2 billion in payments to customers in the past year.
Manulife Investment Management has announced the construction of a new 175,414 sq. ft. high-image warehouse facility at 955 Weigel in Elmhurst, Illinois, in partnership with Crow Holdings Industrial. The project aims to provide durable returns and is strategically located near O'Hare International Airport, with access to major expressways. This development is positioned to meet strong demand in sectors such as e-commerce and healthcare. The facility is expected to be completed in early 2021, enhancing Manulife's extensive real estate portfolio totaling over 63 million sq. ft.
John Hancock Investment Management, part of Manulife Investment Management, announced the creation of three strategic roles in its distribution organization to enhance client service and internal synergies. The appointments include Andrew J. McFetridge as head of strategic relationships, Darren D. Smith as head of U.S. sales, and Kathleen Pritchard as head of value add. These changes aim to better adapt to the evolving needs of financial professionals, as highlighted by Jeffrey O. Duckworth, head of intermediary distribution.
Manulife Investment Management has appointed Scott Greenberg as managing director of institutional distribution, focusing on business development in the southeast United States. He will work from Miami, Florida, collaborating with institutional investors to provide various investment solutions including agriculture, real estate, and fixed income. Reporting to Michael Kotarski, Greenberg brings extensive experience from his previous roles at Nuveen and GE Asset Management. As of September 30, 2020, Manulife managed CAD$923 billion (US$692 billion) in assets.
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