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) delivers insurance, wealth management, and retirement solutions across Canada, Asia, and the United States through its John Hancock division. This news hub provides investors and professionals with timely updates on corporate developments directly affecting market positioning and strategic direction.
Key resources include earnings reports, product innovation announcements, and regulatory filings. Users gain access to verified information about leadership changes, partnership agreements, and sustainability initiatives – all essential for assessing MFC's performance in global financial markets.
Regular updates cover digital transformation progress including AI implementation in customer service, reinsurance transactions, and expansion strategies in Asian markets. Content is curated to help stakeholders monitor operational milestones and industry trends impacting this multinational insurer.
Bookmark this page for streamlined access to MFC's official communications and third-party analyses. Combine frequent checks with portfolio reviews to maintain informed decision-making in dynamic financial markets.
Manulife Financial Corporation reported its 2Q22 results with net income attributed to shareholders at $1.1 billion, down from $2.6 billion in 2Q21. Core earnings fell 9% to $1.6 billion on a constant exchange rate basis. The LICAT ratio remains strong at 137%. APE sales totaled $1.4 billion, down 1% year-over-year, while new business value decreased to $511 million, reflecting a 9% decline. Despite challenges, the company achieved net inflows of $1.7 billion in Global Wealth and Asset Management, significantly lower than the previous year. Share repurchase program continues with approximately 2% of common shares bought back.
The John Hancock Premium Dividend Fund (NYSE: PDT) declared a monthly distribution of $0.0975 per share, payable on July 29, 2022, to shareholders of record as of July 11, 2022. This distribution comes from various sources, including 46% net investment income and 54% return of capital. The fund's managed distribution plan ensures fixed monthly payments until further notice. Investors should note that the fund may have distributed more than its income and net capital gains, indicating a return of capital.
On July 29, 2022, John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) announced a monthly distribution of $0.1380 per share to shareholders of record as of July 11, 2022. This distribution follows the Fund's managed distribution plan and is part of the July 2022 distribution period. The sources for this payout include 31% net investment income and 69% return of capital. Shareholders are informed that the Fund may have distributed more than its income and net realized gains, indicating that a portion of the distribution could be a return of capital.
John Hancock Retirement, part of Manulife Investment Management, has launched a new prospect finder tool aimed at financial professionals. This interactive tool enhances efficiency in managing leads by offering plan comparisons at various levels—industry, state, and national. It features smart filters, downloadable scouting reports, and insights into potential plan gaps. John Hancock currently services over 54,000 retirement plans with more than 3.1 million participants and over $215 billion in assets under management (AUMA) as of March 31, 2022.
Manulife has received an unsolicited mini-tender offer from Obatan LLC to purchase up to 500,000 shares at USD$12.00 per share, representing a 34.04% discount compared to the closing price on July 14, 2022. Manulife does not endorse this offer and advises shareholders to carefully consider the current market price before making decisions. Mini-tender offers, which seek less than 5% of outstanding shares, often come at below-market prices, leading to potential investor confusion. Shareholders can withdraw their shares before December 31, 2022.
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (ICR) of 'aa-' (Superior) for Manulife Financial Corporation (MFC) and its life/health subsidiaries. The ratings reflect a very strong balance sheet, strong operating performance, and effective enterprise risk management. MFC reported core earnings of $6.5 billion for 2021, with a 13% return on equity. However, concerns remain regarding MFC's legacy businesses and potential earnings volatility from its investment portfolio. The outlook is stable for all affirmed ratings.
On July 12, 2022, John Hancock Investment Management, part of Manulife Investment Management, announced the launch of the John Hancock Asset-Based Lending Fund, subadvised by Marathon Asset Management. This fund aims to provide high current income by investing at least 80% of its net assets in asset-based lending investments, including distressed loans. With nearly $23 billion in assets under management, Marathon brings extensive experience in credit investments. The fund targets investors seeking alternatives amidst inflation and market volatility.
John Hancock Retirement and John Hancock Investment Management announced that 14 of their wholesalers were recognized in NAPA's 2022 Top DC Wholesalers list, the most from any firm for the fourth consecutive year. This selection is based on advisor votes among over 700 nominators. Gary Tankersley, head of sales, expressed gratitude for the recognition, while Todd Cassler, head of institutional distribution, praised the service provided to retirement advisors. As of March 31, 2022, John Hancock serviced over 54,000 retirement plans with more than $215 billion in AUMA.
AM Best has assigned a Long-Term Issue Credit Rating of bbb+ (Good) to Manulife Financial Corporation's CAD 1.0 billion, 7.117% subordinated notes, due June 19, 2082, reflecting stable outlook. Alongside this, the company will issue CAD 1.0 billion non-cumulative Class 1 shares, Series 29, with non-deferrable interest payments. The proceeds will support corporate purposes, including investments in subsidiaries. MFC’s leverage and interest coverage ratios are expected to stay within AM Best's rating guidelines.
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