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 (MFC) is an international financial services and direct life insurance company headquartered in Toronto, Canada, with shares listed on the Toronto, New York, and Philippine stock exchanges and under 945 in Hong Kong. This news page aggregates company‑related announcements, allowing investors and observers to review Manulife’s publicly reported developments in one place.
Manulife’s news flow covers a broad range of topics that reflect its role in life insurance, financial advice, and wealth and asset management. Recent releases include strategic sustainability initiatives such as the launch of Manulife Impact Forests, a global network of restoration sites in countries including Canada, the United States, Cambodia, Japan, and the Philippines, developed with community partners and veritree’s Smart Forest technology. Other updates highlight technology partnerships and AI adoption, including a multi‑year agreement with Adaptive ML to support Manulife’s enterprise AI platform and the deployment of AI‑enabled tools in areas like underwriting, customer service, and digital applications.
Investors can also find information on capital markets activity, such as the pricing of U.S. public offerings of senior notes, rating agency actions on Manulife and its subsidiaries, and communications about shareholder matters, including quarterly dividend declarations and responses to unsolicited mini‑tender offers. Operational and financial performance updates, including quarterly results, segment performance in Asia, Canada, the United States, and Global Wealth & Asset Management, and strategic acquisitions in asset management and insurance markets, are regularly reported through news releases.
By following this page, readers can review Manulife’s official communications on its strategy, financial performance, sustainability projects, AI initiatives, and shareholder information, based on the company’s own published news and regulatory disclosures.
John Hancock, a unit of Manulife, announced its 2024 MLK Scholars Program, investing $1 million to provide summer jobs, financial education, and professional development for Boston youth. In its 17th year, the program has invested over $17 million and created opportunities for 6,000+ underrepresented students. In partnership with the City of Boston, the program will sponsor the employment of hundreds of teens at John Hancock’s offices and 25 local non-profits. Collaborating with the Boston Private Industry Council, John Hancock will host networking events for MLK Scholars and summer interns from other financial firms, featuring financial literacy and budgeting activities.
John Hancock, a subsidiary of Manulife (NYSE: MFC), has appointed Hector Martinez as the new Head of Insurance. Martinez previously led Equitable's individual life insurance business and held leadership roles at Crump Life Insurance Services. Brooks Tingle, John Hancock's president and CEO, highlighted Martinez's industry experience, innovative track record, and digital ambitions. Martinez will focus on strengthening distribution relationships, product development, and underwriting expertise, while also championing John Hancock's behavioral insurance leadership. He will join the U.S. and Global Leadership Teams at John Hancock and Manulife, respectively.
Manulife Investment Management (Manulife IM) has announced a strategic partnership with Foundry Commercial to acquire, develop, and lease industrial outdoor storage (IOS) sites in key infill industrial markets throughout the Southeast. The portfolio includes 10 sites in Atlanta, Nashville, Dallas-Fort Worth, and Jacksonville, with three sites already completed and the rest to be developed. This investment is part of Manulife IM's larger strategy to invest in industrial and residential adjacent sectors. The partnership with Foundry aims to deliver significant risk-adjusted returns for investors. Manulife IM has $19.2 billion in assets under management and offers a range of real estate investment strategies globally. Foundry Commercial, based in Orlando, has deployed over $4.4 billion across 30 million square feet of projects and manages $2.7 billion in assets.
Manulife Financial (MFC) is hosting an Investor Day event from June 25-27, 2024, in Hong Kong and Jakarta. The three-day event will feature senior management discussions on Manulife's strategic execution, transformation, and financial targets. Key highlights include an increase in the core Return on Equity (ROE) target to 18%+ by 2027 and a new target to generate over $22 billion in cumulative remittances by the end of 2027. The event includes various presentations, Q&A panels, and showcases of global and regional markets, particularly in Asia.
Manulife Financial (MFC) announced its intention to redeem its 3.049% Fixed/Floating Subordinated Debentures at par value. The total principal amount of these debentures is $750 million, and they are due on August 20, 2029. The redemption will occur on August 20, 2024, with MFC paying the principal along with any accrued and unpaid interest up to the redemption date. Interest on the debentures will cease to accrue after the redemption date. Formal notices will be sent to debenture holders in line with MFC's Trust Indenture provisions.
Manulife and the World Economic Forum (WEF) have launched the 'Prospering in Longevity Challenge' on UpLink, WEF's open innovation platform. This challenge is the first of three under a multi-year partnership aimed at fostering innovation in longevity. Startups offering solutions in preventative healthcare and financial well-being can apply from now until July 22, 2024. The challenge targets solutions to improve financial resilience, health span, and inclusivity for an aging population. By 2050, the global population over 65 years is expected to double, necessitating urgent action in areas like financial literacy, healthy aging, and social connection.
Manulife Financial (MFC) announced the pricing of a S$500 million offer for 4.275% subordinated notes due June 19, 2034. This issuance qualifies as Tier 2 capital and will initially bear a fixed interest rate of 4.275%, shifting to 1.201% over the five-year SORA OIS rate from June 19, 2029. The notes can be redeemed on or after June 19, 2029 with the approval of the Superintendent of Financial Institutions (Canada). The Singapore Exchange has given in-principle approval for the listing of the notes. DBS Bank and Standard Chartered Bank (Singapore) are joint lead managers, while ANZ and HSBC Singapore Branch are co-managers. The offering closes on June 19, 2024.
Manulife Financial announced the results of the conversion privilege for its 8,000,000 Non-cumulative Rate Reset Class 1 Shares Series 15 (Series 15 Preferred Shares) into Non-cumulative Floating Rate Class 1 Shares Series 16 (Series 16 Preferred Shares). Only 7,209 Series 15 Preferred Shares elected for conversion, falling short of the required one million shares. Consequently, holders of Series 15 Preferred Shares will continue to receive fixed-rate, non-cumulative preferential cash dividends of 5.77500% annually, or $0.360938 per share per quarter, starting June 20, 2024, until June 19, 2029. Manulife retains the option to redeem these shares on June 19, 2029, and every five years thereafter. The Series 15 Preferred Shares are not registered under U.S. securities laws and cannot be offered or sold in the U.S. without proper registration or exemption.
Manulife Financial announced new dividend rates for its Series 15 and Series 16 Preferred Shares. The Series 15 Preferred Shares will have a fixed rate of 5.77500% per annum for five years starting June 20, 2024, equivalent to $0.360938 per share quarterly. The Series 16 Preferred Shares, which may be issued upon conversion of Series 15 shares, will have a floating rate of 7.03200% annually for the three-month period starting June 20, 2024, equivalent to $0.443113 per share quarterly. Conversion requests must be made by June 4, 2024. The Series 16 shares are conditionally approved for listing on the TSX under the symbol MFC.PR.S.
John Hancock and its parent company Manulife (NYSE: MFC) announced a five-year, multimillion-dollar research collaboration with MIT AgeLab to advance longevity innovation and research. This partnership aims to develop actionable insights for businesses, policymakers, and individuals, focusing on improving the quality of life for aging populations. The initiative will create a longevity preparedness index, measuring Americans' readiness for longer, healthier lives, with plans to expand to Canada. Additional workshops and industry consortium participation will further explore critical aspects of longevity.