• • • Website Manulife Financial Corporation is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario, Canada. The company operates in Canada and Asia as 'Manulife' and in the United States primarily through its division. As of December 2015, the company employed approximately 34,000 people and had 63,000 agents under contract, and has $935 billion CAD in assets under management and administration. Manulife services over 20 million customers worldwide.
When a company such as Manulife Financial splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of. Stock analysis for Manulife Financial Corp (MFC:Toronto) including stock price, stock chart, company news, key statistics, fundamentals and company profile.
[ ] Manulife is the largest insurance company in Canada and the 28th largest fund manager in the world based on worldwide institutional (AUM). Is a of Manulife. Contents • • • • • • History [ ] Manulife was incorporated as 'The Manufacturers Life Insurance Company' by Act of Parliament on 23 June 1887 and was headed by Canada's prime minister,, and Ontario's lieutenant-governor, (there were no conflict-of-interest guidelines at the time and it was not unusual for public persons to be involved in private industry). The idea for the company came from J.B. Carlile, who came to Canada as an agent for the North American Life Assurance Company. It was his first-hand experience on which the new company's product portfolio was based. Private stock company [ ] The firm was founded as The Manufacturers Life Insurance Company in 1887.
Its first president was, the first of Canada. The company sold its first policy outside of Canada in in 1893.
In 1894, policies were sold in, and;, and in 1895; and,, and in 1897. In 1901, Manulife amalgamated with the Temperance and General Life Assurance Company, a Toronto-based Canadian life insurer that provided preferred rates to abstainers of alcohol. Manulife continued to offer abstainers rates into the 1920s. In 1931, it opened its first branch in.
Shortly thereafter, it established itself as a leading life insurer in the region with branches in, and. Sylenth1 Crack Download Windows 8. Mutual company [ ] In 1958, shareholders voted to change its legal form from a joint stock company to a, making the company privately owned by its policyholders.
In 1984, Manulife announced that it had acquired -based Dominion Life Assurance Company: a deal that included the purchase of all of the outstanding stock of the company from. Dominion Life was founded in Waterloo in 1889, and Manulife made a commitment to the community to retain a significant presence in Waterloo. In 1988, Manulife opened a new five-storey office building at 500 King St. North in Waterloo to house its Canadian Division. In 1996, the company entered an agreement with to form Shanghai-based Zhong Hong Life Insurance Co. Ltd., China’s first joint venture life insurance company, and was granted a license that made it the second foreign insurer to be allowed re-entry into China. Demutualization and public company [ ] In 1999, its voting eligible policyholders approved, and the shares of Manulife, the holding company of The Manufacturers Life Insurance Company and its subsidiaries, began trading on The Toronto Stock Exchange (TSX), the New York Stock Exchange (NYSE) and the Philippine Stock Exchange (PSE) under the ticker 'MFC', and on The Stock Exchange of Hong Kong (SEHK) under the ticker ‘945’.
In 2002, Manulife–Sinochem Life Insurance Co. Was granted approval by the China Insurance Regulatory Commission (CIRC) to open a branch office in, China, the first branch license granted to a foreign invested joint–venture life insurance company.
In 2003, Manulife-Sinochem received approval for a branch office in, the first multiple-branch license granted to a foreign-invested joint venture life insurance company. The firm is now licensed to operate in more than 50 Chinese cities. In 2003, Manulife and John Hancock Financial Services, Inc. (including its Canadian subsidiary ) announced a tax–free stock–for–stock merger of the companies, creating a global insurance franchise. Completed in April 2004, the merger created the largest life insurer in Canada, second largest in North America, and fifth largest in the world at the time. In 2013 Richard DeWolfe became the Chair of the company’s board, succeeding Gail Cook-Bennett, who retired after serving 34 years on the board.
In 2009, Donald Guloien, the Chief Investment Officer, succeeded Dominic D’Alessandro as President and CEO of the company. Shortly before his departure, D’Alessandro modified his retirement package; the restricted units would only vest for a total of $10 million if the shares reached $36 by the end of 2011, and he would receive $5 million if the shares hit $30. This was in response to shareholders’ reaction to the first quarterly loss ever posted by the firm in its public history.