Manulife Finl Stock Price, News & Analysis

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.

Manulife has received notice of an unsolicited mini-tender offer from Obatan LLC, aiming to purchase 500,000 shares at USD$12.00 each, representing a 31.37% to 35.24% discount from recent market prices. Manulife warns that this offer is below the market value and is not endorsed by the company, which stresses that mini-tender offers can mislead investors. Shareholders are advised to evaluate offer documents and consult their advisors before making decisions. The offer is valid until July 14, 2022.

Manulife Investment Management has appointed Aimee DeCamillo as the new global head of retirement, effective May 23, 2022. She will oversee the strategy and growth of the organization’s global retirement business, which manages over $330 billion in retirement assets for more than 8 million individuals. DeCamillo previously held leadership roles at Jackson Financial and T. Rowe Price. Her focus will be on adapting strategies to local markets while developing investment solutions. Paul Lorentz, CEO, expressed confidence in her ability to enhance customer offerings amidst economic challenges.

Manulife Financial Corporation reported a net income of $3.0 billion for Q1 2022, a significant increase from $800 million in Q1 2021. However, core earnings fell by 4% to $1.6 billion, and net new business value (NBV) decreased by 14%. The Company achieved 6.9 billion in net inflows in Global Wealth and Asset Management, significantly up from $1.4 billion in 2021. A capital release of $2.4 billion was noted post the variable annuity reinsurance transaction. Looking ahead, management remains optimistic about increased customer demand as markets stabilize.

On April 28, 2022, Manulife Investment Management published its second annual stewardship report, highlighting its commitment to effective asset stewardship across public and private markets. The report outlines responsibilities for asset managers in addressing environmental, social, and governance (ESG) risks while promoting sustainability. It emphasizes the importance of international collaboration and regional sensitivity in stewardship practices. Noteworthy achievements include partnerships in climate initiatives and over 1,300 engagements with issuers to foster sustainable outcomes.

Manulife Investment Management has introduced new guidelines for managing carbon credits in timberland and agriculture projects. The firm aims to generate high-quality carbon credits driven by increasing corporate net-zero commitments, with demand expected to rise significantly by 2050. The guidelines emphasize principles like additionality and permanence, requiring carbon credits to genuinely reduce emissions. The firm oversees approximately 6 million acres of timberland and 400,000 acres of farmland, with total assets under management of US$59.2 billion. These initiatives aim to enhance investor confidence in natural climate solutions.

Manulife Financial Corporation has released its Management Information Circular and 2021 Annual Report to shareholders, accessible online. The annual meeting is scheduled for May 12, 2022, at 11:00 a.m. EST, and attendees can participate virtually via live webcast. Shareholders are encouraged to vote their shares in advance to ensure representation. The company reported CAD$31.8 billion in customer payments over the past year and operates primarily in Canada, Asia, and the U.S. under the 'John Hancock' brand.