Manulife Financial is a large, diversified, Canada-based financial services company. Manulife operates on a worldwide basis and offers a broad range of financial protection products and wealth management services--including annuities. Manulife merged with John Hancock in 2004.
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| General Information | |
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| Website | http://www.manulife.com |
| Type | Insurance Company |
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| Country | USA |
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| Address | Valhalla, NY 10595 |
| Phone | 877-391-3748 |
| Fax | 914-773-0709 |
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An interesting article (click here to read) from Darla Mercado at Investment News discusses Manulife's efforts to catch-up with hedging strategy. The focus seems to be the variable annuity portfolio. Much of the (unhedged) pain was experienced in 2008-2009. Apparently Manulife is about half-way through a 4 year program--final objective being 75% coverage of equity market exposure. Also hedging interest rate risk which dampens some of the potential upside in a rising rate environment.
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Manulife Financial continues to recover and shore-up its balance sheet after taking some hits to its previously unhedged variable annuity business:
Source: Reuters |
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Canadian insurer Manulife Financial is under investigation by the Ontario Securities Commission for failing to disclose certain obligations related to its variable annuity products. Manulife's stock price has been under pressure and the company had to draw down a $3 billon loan. Manulife, the parent of John Hancock, has reported billion dollar earnings losses in its two most recent quarters. The company is suffering from the decision not to hedge effectively within its variable annuity products and living benefit guarantees. Source: The Star |
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