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 (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 (MFC) plans to redeem C$500 million of its 3.85% Subordinated Notes on May 25, 2021. This redemption will occur at par value, and interest on the Notes will cease on the redemption date. The Notes are due on May 25, 2026, and the formal notice will be provided to the holders as per MFC's Trust Indenture. This strategic move reflects MFC's ongoing financial management and commitment to its stakeholders.
On April 5, 2021, John Hancock launched a new protection variable universal life insurance product, Protection VUL, aimed at providing a guaranteed death benefit up to age 100. This policy features flexible investment options and attractive living benefits. Notably, it allows users to access the John Hancock Vitality Program, promoting healthier lifestyles with potential premium savings of up to 25%. As a complement to existing protection products, Protection VUL targets insurance clients aged 35 and older, offering a blend of security and growth potential in financial planning.
John Hancock Investment Management has announced the launch of its first fixed-income ETF, the John Hancock Corporate Bond ETF (ticker: JHCB), which aims for high current income through investments in corporate bonds. Managed by Manulife Investment Management, the ETF requires a minimum of 80% of net assets in corporate bonds. Furthermore, two additional ETFs are in the pipeline: John Hancock Mortgage Backed Securities ETF and John Hancock Ultra Short Income ETF, both targeting steady income levels. This brings the total number of ETFs offered by John Hancock Investment Management to 16, managing assets over $4.5 billion.
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.
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