Formerly | The Manufacturers Life Insurance Company |
Type | Public |
Traded as | TSX: MFC\\ NYSE: MFC\\ SEHK: 945\\ PSE: MFC |
Industry | Financial services (insurance) |
Founded | June 23, 1887; (1887-06-23) |
Headquarters | 200 Bloor Street East\\ Toronto, Ontario\\ M4W 1E5 |
Products | Asset management, Commercial banking, Commercial mortgages, Consumer banking, Group benefits, Insurance, Investments, Mutual funds, Private banking, Real estate, Reinsurance, Securities, Underwriting, Wealth management |
Subsidiaries | – John Hancock Financial – Manulife Investment Management – Manulife Bank of Canada |
Website | www.manulife.com |
- Manulife Financial Corporation (also known as Financière Manuvie in Quebec) is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario.
- The company operates in Canada and Asia as “Manulife” and in the United States primarily through its John Hancock Financial division.
- Manulife Bank of Canada is a wholly owned subsidiary of Manulife.
- In 1996, the company entered an agreement with Sinochem to form Shanghai-based Zhong Hong Life Insurance Co. Ltd., China's first joint venture life insurance company, and was granted a license that made it the second foreign insurer to be allowed re-entry into China.
- In 2002, Manulife–Sinochem Life Insurance Co. Ltd. was granted approval by the China Insurance Regulatory Commission (CIRC) to open a branch office in Guangzhou, China, the first branch license granted to a foreign invested joint–venture life insurance company.
- In 2003, Manulife-Sinochem received approval for a branch office in Beijing, the first multiple-branch license granted to a foreign-invested joint venture life insurance company.
- The firm is now licensed to operate in more than 50 Chinese cities. On September 29, 2003, Manulife announced its intent to acquire the Boston-based insurance company John Hancock Financial (including a Canadian subsidiary, Maritime Life) for $10.4 billion in a stock-for-stock merger.
- The merged entity would initially be led by John Hancock's CEO David F. D'Alessandro, but he would step down in June 2004.
- In 2010, the company announced that it had purchased Fortis Bank SA/NV's 49% ownership in ABN AMRO TEDA Fund Management Co. Ltd.
- The new joint venture, Manulife TEDA Fund Management Company Ltd. (Manulife TEDA), provides traditional retail and institutional asset management for clients in China.
- The other 51 percent is owned by Northern International Trust, part of Tianjin TEDA Investment Holding Co. , Ltd. (TEDA).
- In June 2015, Manulife-Sinochem became the first foreign invested joint-venture life insurance company in China authorized to sell mutual funds.