Manulife Financial Corporation is a Canadian insurance and investment company, one of the largest in the world . The main areas of activity are Canada, the USA (through a subsidiary of John Hancock Financial) and Southeast Asia.
| Manulife financial corporation | |
|---|---|
| Type of | Public company |
| Exchange listing | |
| Base | 1887 |
| Location |  Canada : Toronto |
| Key figures | Richard Devolph (Chairman of the Board) Donald A. Guloien, President and CEO |
| Industry | Insurance Asset Management |
| Equity | ▲ C $ 42.823 billion (2016) [1] |
| Turnover | ▲ C $ 53.337 billion (2016) [1] |
| Net profit | ▲ C $ 3.133 billion (2016) [1] |
| Assets | ▲ C $ 720.681 billion (2016) [1] |
| Capitalization | C $ 53 billion (01/27/2018) [2] |
| Number of employees | 35 thousand (2016) [1] |
| Auditor | Ernst & Young LLP |
| Site | |
In 2015, the company took 57th place among the largest investment companies in the world in terms of assets under management ($ 310 billion) [3] . At the end of 2016, assets under management amounted to C $ 977 billion ( US $ 728 billion [1] .
Content
History
The company was founded by an Act of Parliament of Canada dated June 23, 1887 under the name The Manufacturers Life Insurance Company. Its first president was Canadian Prime Minister John MacDonald. By the end of the 19th century, the company was operating not only in Canada, but also in Latin America, China and Hong Kong [4] . In 1958, the company was transformed from a joint-stock company into a mutual one, that is, it became the property not of shareholders, but of holders of insurance policies. Ontario-based Dominion Life Assurance Company was also purchased in 1984. In 1996, Zhong Hong Life Insurance Co., a joint company, was established with Sinochem, a Chinese insurance company. Ltd [5] .
In 1999, Manulife was transformed back into a joint stock company, its shares were listed on the stock exchanges of Toronto, New York, Hong Kong and the Philippines. In 2002, Zhong Hong Life Insurance Co. Ltd., previously operating only in Shanghai, received a license to open an office in Guangzhou, and next year in other cities of China.
In 2003, Manulife merged with the American company John Hancock Financial Services, Inc. In 2004, when the deal was completed, the company was the largest insurer in Canada, the second largest in North America and the fifth largest in the world [5] . In 2014, Canadian subsidiaries of the British insurance company Standard Life were bought for $ 3.7 billion [6] .
In 2015 and 2016, Manulife significantly increased its presence in the pension insurance market by purchasing the respective subsidiaries New York Life and Standard Chartered [1] .
Guide
- Richard B. DeWolfe - Chairman of the Board since 2013, Member of the Board of Directors since 2004.
- Donald A. Guloien has been President and Chief Executive Officer ( CEO ) since 2009.
Activities
In 2016, the bulk of the revenue structure came from insurance premiums, C $ 27.6 billion from C $ 53.3 billion in turnover, another C $ 13.4 billion brought investment income; insurance payments, annuities and other payments amounted to C $ 25.9 billion. The company serves about 22 million customers. The company's staff is about 35 thousand, as well as 70 thousand agents; independent representatives and partner companies, in particular DBS Bank and Standard Chartered [1], are involved in the distribution of Manulife insurance and investment products.
The main divisions of the company: [1]
- Canada - the unit’s head office is in Waterloo, Ontario; The division’s turnover in 2016 amounted to C $ 19.3 billion, assets - C $ 384 billion.
- USA - the head office of the unit is located in Boston, Massachusetts, with a turnover of C $ 20.6 billion and assets of C $ 384 billion.
- Asia - the head office of the unit is located in Hong Kong, there are also offices in China, Macau, Cambodia, Indonesia, Japan, Malaysia, the Philippines, Singapore, Thailand, Vietnam; The division’s revenue amounted to C $ 19.3 billion, assets - C $ 92.8 billion.
Subsidiaries
Manulife Financial Corporation is a holding company for The Manufacturers Life Insurance Company, a Canadian life insurance company, and John Hancock Reassurance Company Ltd., a Bermuda-registered reinsurance company. Subsidiaries of The Manufacturers Life Insurance Company at the end of 2016 are: [1]
- Manulife Holdings (Alberta) Limited ( Calgary , Canada, holding company )
- John Hancock Financial Corporation ( Wilmington , Delaware , USA , holding company)
- The Manufacturers Investment Corporation ( Michigan , USA, holding company)
- John Hancock Life Insurance Company (USA) (Michigan, USA, life insurance in all states of the USA except New York )
- John Hancock Subsidiaries LLC (Wilmington, Delaware, USA, holding company)
- John Hancock Financial Network, Inc. ( Boston , Massachusetts , USA)
- John Hancock Advisers, LLC (Boston, Massachusetts, USA, asset management company)
- John Hancock Funds, LLC (Boston, Massachusetts, USA, brokerage services)
- Manulife Asset Management (US) LLC (Wilmington, Delaware, USA, asset management company)
- Hancock Natural Resource Group, Inc. (Boston, Massachusetts, USA, forestry and agriculture management in various countries)
- John Hancock Life Insurance Company of New York ( New York , USA; New York State Life Insurance)
- John Hancock Investment Management Services, LLC (Boston, Massachusetts, USA, investment advice)
- John Hancock Life & Health Insurance Company (Boston, Massachusetts, USA; insurance in all states of the USA)
- John Hancock Distributors LLC (Wilmington, Delaware, USA, brokerage services)
- John Hancock Subsidiaries LLC (Wilmington, Delaware, USA, holding company)
- John Hancock Insurance Agency, Inc. (Wilmington, Delaware, USA, insurance agency)
- John Hancock Insurance Company of Vermont ( Vermont , United States, insurance)
- Manulife Reinsurance Limited ( Hamilton , Bermuda , reinsurance)
- John Hancock Life Insurance Company (USA) (Michigan, USA, life insurance in all states of the USA except New York )
- The Manufacturers Investment Corporation ( Michigan , USA, holding company)
- John Hancock Financial Corporation ( Wilmington , Delaware , USA , holding company)
- Manulife Bank of Canada ( Waterloo , Canada, banking)
- Manulife Asset Management Holdings (Canada) Inc. (Toronto Canada Holding Company)
- Manulife Asset Management Limited (Toronto, Canada, Investment Advice and Mutual Funds Management in Canada)
- First North American Insurance Company (Toronto, Canada, Property Insurance)
- NAL Resources Management Limited ( Calgary , Canada, a management company for oil and gas production assets)
- Manulife Resources Limited (Calgary, Canada, owns oil and gas production assets)
- Manulife Property Limited Partnership (Toronto, Canada, receives royalties from oil and gas production assets)
- Manulife Securities Investment Services Inc. (Oakville, Canada, mutual fund management)
Manulife Holdings (Bermuda) Limited (Hamilton, Bermuda, holding company)
- Manufacturers P & C Limited (Saint Michel, Barbados , reinsurance)
- Manulife Financial Asia Limited ( Hong Kong , PRC , holding company)
- Manulife (Cambodia) PLC ( Phnom Penh , Cambodia , insurance company)
- Manufacturers Life Reinsurance Limited (Saint Michel, Barbados, reinsurance)
- Manulife (Vietnam) Limited ( Vietnam , life insurance)
- Manulife Asset Management (Vietnam) Company Limited (Vietnam, investment fund management)
- Manulife International Holdings Limited (Hong Kong, PRC, holding company)
- Manulife (International) Limited (Hong Kong, PRC, holding company)
- Manulife-Sinochem Life Insurance Co. Ltd. (51%, Shanghai , China, life insurance)
- Manulife Asset Management International Holdings Limited (Hong Kong, PRC, holding company)
- Manulife (International) Limited (Hong Kong, PRC, holding company)
- Manulife Life Insurance Company ( Tokyo , Japan , life insurance)
- Manulife Asset Management (Japan) Limited (Tokyo, Japan, management of mutual and other investment funds)
- Manulife Insurance (Thailand) Public Company Limited (91.9%, Bangkok , Thailand , life insurance)
- Manulife Asset Management (Thailand) Company Limited (94.2%, Bangkok, Thailand, investment fund management)
- Manulife Holdings Berhad (59.5%, Kuala Lumpur , Malaysia , holding company) *** Manulife (Singapore) Pte. Ltd. ( Singapore , life insurance)
- Manulife Asset Management (Singapore) Pte. Ltd. (Singapore, investment fund management)
- The Manufacturers Life Insurance Co. (Phils.), Inc. (Makati, Philippines , life insurance)
- Manulife Chinabank Life Assurance Corporation (60%, Makati, Philippines, life insurance)
- PT Asuransi Jiwa Manulife Indonesia ( Jakarta , Indonesia , life insurance)
- PT Manulife Aset Manajemen Indonesia (Jakarta, Indonesia, Investment Fund Management)
- Manulife Asset Management (Europe) Limited ( London , England , Manulife Financial International Fund Management)
- Manulife Assurance Company of Canada (Toronto, Canada, Life Insurance)
- EIS Services (Bermuda) Limited (Hamilton, Bermuda, investment holding company)
- Berkshire Insurance Services Inc. (Toronto, Canada, investment holding company)
- JH Investments (Delaware) LLC (Boston, USA, investment holding company)
- Manulife Securities Incorporated (Oakville, Canada, Investment Dealer)
- Manulife Asset Management (North America) Limited (Toronto, Canada, Investment Advice)
- Regional Power Inc. ( Mississauga , Canada, hydropower projects)
Notes
- ↑ 1 2 3 4 5 6 7 8 9 10 Annual Report 2016 (English) . Manulife Financial Corporation. Date of treatment December 15, 2017.
- ↑ Manulife Financial Corp (MFC.TO) Quote . Reuters Date of treatment January 27, 2018.
- ↑ The world's 500 largest asset managers - Year end 2015 (eng.) (Link not available) . Willis Towers Watson (October 31, 2016). Date of treatment December 7, 2017. Archived December 21, 2016.
- ↑ Manulife Financial Corporation . Historica Canada . The Canadian Encyclopedia (December 16, 2013). Date of treatment December 15, 2017.
- ↑ 1 2 Our story . Manulife Financial Corporation. Date of treatment December 15, 2017.
- ↑ Rocha, Euan & Hodgson, Jeffrey. Manulife to buy Standard Life's Canadian assets for $ 3.7 billion . Reuters (September 3, 2014). Date of treatment December 15, 2017.
Links
- Manulife Financial Corporation on the website of the Securities and Exchange Commission