Manulife Financial Corp (TSX:MFC)

Financial

Manulife Financial Corporation is a financial services company that provides life and health insurance, pension products and benefit plans to aid people in their investment plans.

The Canadian company operates as Manulife through different offices in Europe, Canada and Aisa. In the United States, the company operates via its subsidiary John Hancock.

Headquartered in Toronto, the insurance provider has a global presence in Japan, Hong Kong, Indonesia, Malaysia, China Mainland, Philippines, Singapore, Taiwan, Vietnam, Cambodia.

The company provides different services under two categories:

• Wealth and asset management
• Insurance and annuity products.

Wealth and asset management products include:

• Exchange-traded funds
• Mutual funds
• Group retirement products
• Segregated funds
• Saving plans and institutional asset management services

It offers various individual life and health insurance plans, long-term care insurance, group insurance plans and guaranteed and partially guaranteed annuity products under the second business segment.
The life insurance products are either permanent life or term life insurance.

The company provides three-in-one life, critical illness and disability illness protection plan for customers through its Manulife Synergy combination.

Manulife Financial Corporation also provides estate solutions, investment management, private banking, and securities lending services.

The company was founded as Manufacturers Life Insurance Company in 1887. It entered the US market in 1903 and reportedly became the first North American company to offer insurance to controlled diabetics in 1942.

In 1990, the company was renamed as Manulife Financial.

The company merged with John Hancock in 2004 and reportedly became the largest insurance company in Canada.

The financial services company aims to become a digital and customer-centric market leader by focusing on portfolio optimization, expense efficiency, accelerating growth, digitization, innovation and high-performing teams.

The company is listed on the New York Stock Exchange, Toronto Stock Exchange and Philippine Stock Exchange as well. The stocks are traded under the ticker symbol of ‘MFC’.