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 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.
Manulife Investment Management's Hancock Natural Resource Group (HNRG) has released its inaugural climate disclosure report, highlighting the importance of carbon removal in timber and agriculture investments. The report follows the Task Force on Climate-related Financial Disclosures' guidelines and outlines HNRG's strategies for assessing climate risks and opportunities. CEO William E. Peressini emphasized the shift towards 'impact-first investments' aimed at maximizing carbon sequestration. The report also discusses HNRG's risk management processes and commitment to sustainable practices, underscoring the significance of these measures for investor returns.
Manulife Investment Management announced the acquisition of the Bellingham Logistics Center, a Class A industrial park in Bellingham, MA, comprising two buildings with a total area of 427,000 square feet. This strategic acquisition is aimed at enhancing their portfolio, capitalizing on the favorable market dynamics in the Greater Boston area, including strong rent growth and limited available land. The property is fully occupied by three high-quality tenants and is situated in a key industrial submarket, benefiting from its proximity to major transportation routes.
John Hancock Investment Trust has announced changes to the dial-in instructions for the special meeting of shareholders of John Hancock Infrastructure Fund, scheduled for December 18, 2020, at 10:00 a.m. ET. The meeting will be conducted virtually due to COVID-19 safety concerns. Shareholders can still vote without attending by authorizing a proxy in advance. Relevant proxy materials have been filed and are accessible online. The meeting aims to approve an update to the fund's investment restrictions.
John Hancock Funds III has announced a change in the dial-in instructions for the special shareholders meeting of John Hancock U.S. Growth Fund, scheduled for December 18, 2020, at 2:00 p.m. ET. The meeting will be held virtually due to COVID-19 concerns and is accessible only to eligible shareholders. The purpose is to vote on an update to the fund's diversification status. Proxy materials were filed with the SEC on October 20, 2020, and mailed to shareholders on November 5, 2020. Shareholders are encouraged to vote in advance by proxy.
On December 14, 2020, John Hancock, the U.S. division of Manulife (NYSE: MFC), announced the integration of Amazon Halo as the complimentary wearable for its Vitality Program. This collaboration aims to enhance customer health engagement by offering insights into activity, sleep, and health metrics. Eligible life insurance customers can earn Vitality Points through various health-related activities. The partnership aligns with John Hancock's commitment to improving customer wellness while providing life insurance benefits. The Amazon Halo service includes a wristband and a three-year membership for new Vitality PLUS members.
Roy Gori, President and CEO of Manulife, will address the Singapore Fintech Festival on December 11, 2020, at 4:40 pm ET. His talk will focus on the transformation within the insurance and asset management industry, emphasizing the importance of people and culture in this evolution. Manulife has a significant global presence, with over 35,000 employees and $1.3 trillion in assets under management. Interested participants can register through the provided link.
Manulife has issued a statement regarding an unsolicited mini-tender offer from Obatan LLC, aiming to purchase up to 100,000 common shares at USD$12.00 each, significantly below market value. This offer is less than 0.005% of outstanding shares and reflects a discount of over 27% compared to prior closing prices. Manulife advises shareholders to be cautious and not to accept the offer without consulting financial advisors. The company emphasizes that it does not endorse the offer and disconnects itself from Obatan's proposal, urging shareholders to verify market prices before making decisions.
Manulife is empowering its 35,000 global employees by providing the equivalent of $50 CAD each to support acts of kindness in their communities this holiday season. Forgoing year-end celebrations and gifts, the initiative encourages employees to donate or share their support stories online using #ManulifeActofKindness. In 2020, Manulife has donated nearly $5 million for various causes, including food security and healthcare support. With $1.3 trillion in assets under management, Manulife continues to strengthen its commitment to community well-being.
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