Latest News

Manulife Financial

Manulife Financial Corporation is a Canadian insurance companionship in addition to fiscal services provider. Manulife Financial's global caput role is located inwards Toronto, Canada in addition to the Company has operations inwards 21 countries in addition to territories worldwide.

The companionship operates inwards Canada in addition to Asia through the build get upwards "Manulife Financial" in addition to inwards the the United States primarily through its John Hancock division. It is ane of the largest life insurance companies inwards the globe equally measured past times marketplace position capitalization, in addition to has only about 26,000 employees world-wide.

Manulife Bank of Canada is a wholly owned subsidiary of Manulife Financial Corporation.

History

The Manufacturers Life Insurance Company was founded inwards 1887. Its offset president was the offset Prime Minister of Canada, Sir John A. Macdonald. In 1897, Manulife Financial expanded its operations into Asia, including PRC in addition to Hong Kong.

In 1999, The Manufacturers Life Insurance Company’s voting eligible policyholders approved demutualization. Later that year, the shares of Manulife Financial Corporation, the asset companionship of The Manufacturers Life Insurance Company in addition to its subsidiaries, began trading on The Toronto Stock Exchange (TSX), the New York Stock Exchange (NYSE) in addition to the Philippine Stock Exchange (PSE) nether the pump 'MFC', in addition to on The Stock Exchange of Hong Kong (SEHK) nether the pump ‘945’. 

In 2002, Manulife–Sinochem Life Insurance Co. Ltd. was granted approving past times the PRC Insurance Regulatory Commission (CIRC) to officially opened upwards its branch role inwards Guangzhou, China. This was the offset branch license granted past times CIRC to a unusual invested joint–venture life insurance company. Later inwards 2003, Manulife-Sinochem received approving to opened upwards a branch role inwards Beijing. This was Manulife-Sinochem’s instant branch license in addition to the offset multiple-branch license granted to a foreign-invested articulation venture life insurance company. Manulife-Sinochem is straight off licensed to last inwards to a greater extent than than forty cities across China.

In 2003, Manulife Financial Corporation in addition to John Hancock Financial Services, Inc. in addition to (including its Canadian subsidiary Maritime Life) announced that their Boards of Directors had each unanimously agreed to a tax–free stock–for–stock merger of the companies creating a leading global insurance franchise. Completed inwards Apr 2004, the merger created the largest life insurer inwards Canada, instant largest inwards North America, in addition to 5th largest inwards the globe at the time.

In 2008, Gail Cook-Bennett became the Chair of Manulife Financial’s Board of Directors.

In 2009, Donald Guloien, the Chief Investment Officer, succeeded Dominic D’Alessandro equally President in addition to CEO of Manulife Financial. Shortly earlier his departure, facing a shareholder revolt equally the theater posted a quarterly loss for the offset fourth dimension inwards its populace history, D'Alessandro modified his retirement package; the restricted units would solely vest for a full of $10 1000000 if the shares reached $36 past times the destination of 2011, in addition to he would have $5 1000000 if the shares hitting $30. However, the offset initiatives nether Guloien's leadership were a dividend cutting in addition to an equity offering to bolster Manulife's uppercase levels, making it hard for the percentage cost to attain the target levels needed to vest.

In September 2009, Manulife Financial Corporation shut a transaction to buy AIC’s Canadian retail investment fund business. In Oct 2009, Manulife Financial announced that it had purchased Pottruff & Smith Travel Insurance Brokers Inc., a leading broker in addition to 3rd political party administrator of go insurance across Canada.

In 2010, Manulife Financial announced that it had shut the transaction to buy Fortis Bank SA/NV’s1 49 per cent ownership inwards ABN AMRO TEDA Fund Management Co. Ltd. The novel articulation venture, Manulife TEDA Fund Management Company Ltd. (Manulife TEDA), provides traditional retail in addition to institutional asset management for clients across the Chinese market. Manulife TEDA is 51 per cent owned past times Northern International Trust, component of Tianjin TEDA Investment Holding Co., Ltd. (TEDA).

0 Response to "Manulife Financial"