Manulife Financial (NYSE: MFC) is a Canadian multinational insurance company and financial services provider. It has been trading on the Toronto (TSX), New York (NYSE), Philippines (PSE), and Hong Kong (SEHK) stock exchanges, respectively, since 1999. The company operates as "Manulife" in Canada and Asia and through its John Hancock Financial division in the US and is the largest insurance company in Canada (December 2021). Manulife earned total gross premiums (GPs) of CAD 44.1 billion (~USD 34 billion) and generated a total revenue of CAD 17.1 billion (USD 13.1 billion) in 2022.
The company’s insurance (and insurance-based wealth accumulation) business is categorized into Life and Health Insurance and Annuities and Pension business lines. The Life and Health Insurance business offers a range of health, life, travel, combination, and mortgage protection insurance products. The Annuities and Pension business includes insurance-based wealth and asset management solutions for individuals, groups, and institutions. Additionally, Manulife provides non-insurance-based investment advice and innovative solutions to retirement, retail, and institutional clients through its Global Wealth and Asset Management segment.
Asia was Manulife’s largest market, accounting for ~51% of GWP in 2022, followed by Canada (~28%) and the US (~21%). Manulife’s strategic priorities include accelerating growth through 2025 to generate 75% of core earnings from the companies’ highest potential businesses and 50% from Asia. The company is committed to reaching the net-zero status by 2050.
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