We apologise for the inconvenience and look forward to serving you when we resume normal operations on Monday, 12 June 2023. Earnings Call Transcript, Annual Information Form Net inflows in Institutional Asset Management were $1.6 billion in 4Q21 compared with net inflows of $1.0 billion in4Q20, driven by lower redemptions in timberland and real estate mandates, partially offset by lower gross flows in fixed income mandates. Singapore. The film received 5.5 million video views and more than 56,000 engagements on social media. Key highlights include: "Our ability to adapt and serve clients across the globe who are navigating a very uncertain environment continues to drive our operating results with record net income of $7.1 billion and core earnings of $6.5 billion in 2021 driven by our insurance businesses delivering double-digit growth in APE sales and NBV and Global WAM delivering strong net inflows of $27.9 billion," said Manulife President & Chief Executive Officer Roy Gori. [11][12], In 1901, Manulife amalgamated with the Temperance and General Life Assurance Company,[9] a Toronto-based Canadian life insurer that provided preferred rates to abstainers of alcohol. Annualized premium equivalent ("APE") sales of $6.1 billion in 2021, an increase of 13% compared with 2020, and $1.4 billion in 4Q21, an increase of 5% compared with 4Q20. Learn more about how Statista can support your business. Unitholders of Manulife US REIT ("Unitholders") are subject to a maximum withholding tax rate of 30% on income they derive from U.S. investments. [4] As of December 2021, the company employed approximately 38,000 people and had 119,000 agents under contract, and has CA$1.4 trillion in assets under management and administration. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). The revenue generated by the . [40], In May 2016, Manulife US real estate investment trust became a public company via an initial public offering on the Singapore Exchange. . In Japan, APE sales declined 44%, primarily due to a decrease in COLI product sales. Press Release - Leading Canadian life insurance companies jointly release an update on the new IFRS 17 accounting standard, Overview of earnings presentation and reporting under the new IFRS 17 accounting standard. NON-GAAP AND OTHER FINANCIAL MEASURES:The Company prepares its Consolidated Financial Statements in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board. Manulife Financial Corp annual revenue for 2022 was $13.189B, a 73.26% decline from 2021. to incorporate the statistic into your presentation at any time. Jan 2021 - Sep 20221 year 9 months Singapore Co-founder / Director iStudy Australia 2002 - Present21 years Sydney, Australia A founding member of Australia's most popular student portal. The increase in core earnings in 2021 compared with 2020 wasdriven by the recognition of core investment gains1in 2021 (compared with nil core investment gains in 2020), higher new business gains in all segments,higher net fee income from higher average AUMA in Global WAM,which benefitted from the favourable impact of markets and net inflows, higher investment income in Corporate and Other which benefitted from higher net gains from available-for-sale equities and seed money investments in 2021, and in-force business growth in all segments. Non-GAAP financial measures and non-GAAP ratios are not standardized financial measures under GAAP and, therefore, might not be comparable to similar financial measures disclosed by other issuers. Find answers to frequently asked questions about Manulife's policies. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. In Global WAM, Asia Retail's online investment platform, Manulife iFUNDS continued to show strong momentum in 2021 compared with 2020, with a 39% increase in gross flows. The company operates in Canada and Asia as "Manulife," and in the United States through John Hancock Financial, a life insurer acquired by Manulife Financial in 2004. Slides - Conceptual overview of Manulife's adoption of IFRS 17 and IFRS 9, Video - Conceptual overview of Manulife's adoption of IFRS 17 and IFRS 9. He moved to Japan in 2018 to serve as the CFO of Manulife Japan, and then returned to Toronto in 2021. Strong believer in customer satisfaction, collaborative partnership, superior service delivery quality and forward-looking risks identification & mitigation. The conference call will also be webcast through Manulife's website at 8:00 a.m. The Financial Reporting Council regulates auditors, accountants and actuaries, and sets the UK's Corporate Governance and Stewardship Code. Manulife's 'Unbroken' campaign centred on anemotional, five-minute filmabout a family facing critical illness, which came with a surprising twist. New business value ("NBV") of $2.2 billion in 2021, an increase of 31% compared with 2020, and $555 million in 4Q21, an increase of 17% compared with 4Q20. (1) These items are disclosed under OSFI's Source of Earnings Disclosure (Life Insurance Companies) guideline. Reach your goals sooner and achieve more with both insurance and investment in one product. Net inflows were $8.1 billion in 4Q21, compared with net inflows of $2.8 billion in 4Q20. Not sure what kind ofprotectionis needed? In Canada, we continued to offer a differentiated customer experience through our products. Core earnings is a non-GAAP financial measure. Head Count 250 - 1000. Annual Report Manulife is one of the leading providers of life insurance in Singapore and has helped provide peace of mind to thousands of families. Net outflows in Institutional Asset Management were $2.4 billion compared with net inflows of $3.8 billion in the prior year, driven by a $9.4 billion redemption in Asia in the first quarter of 2021, and the non-recurrence of a $6.9 billion sale in Canada in 2020. In addition, our representatives may make forward-looking statements orally to analysts, investors, the media and others. The other 51 percent is owned by Northern International Trust, part of Tianjin TEDA Investment Holding Co., Ltd. The Manager, Manulife US Real Estate Management Pte. The transaction, which closed on, We experienced sales momentum with sales ahead of the prior year in almost every major category and reported record sales in our international business. Revenue of Manulife Financial worldwide from 2014 to 2021 (in billion Canadian dollars) [Graph]. APE sales were $6.1 billion in 2021, an increase of 13% compared with 2020. By signing up you agree to receive content from us. B. Carlile, who came to Canada as an agent for The North American Life Assurance Company. "We are pleased to have delivered strong financial performance in 2021 including Core ROE of 13% and ROE of 14.2%," said Phil Witherington, Chief Financial Officer. 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, John A. Macdonald, and Ontario's lieutenant-governor, Alexander Campbell (there were no conflict-of-interest guidelines at the time and it was not unusual for public persons to be involved in private industry). China APE sales increased 12%, primarily reflecting growth in our bank channel. View contact profiles from Manulife Financial Advisers Popular Searches Manulife Financial Advisers Pte Ltd Manulife Financial Advisers SIC Code 62,628 NAICS Code 52,523 Manulife Financial Corporation (also known as Financire Manuvie in Quebec) is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario. [20] That same year, the company amalgamated with North American Life. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. Statistical Information Package (Excel) Behind Manulife's new critical-illness campaign, Asia-Pacific Power List 2022: Melissa Henson, Manulife, Women to Watch 2022: Hajar Yusof, Naga DDB Tribal, Fred & Farid and the palette of AI possibilities, Asia-Pacific Power List 2023: Jan-Paul Jeffrey, Spotify, A marketoonists hard truths about the industry. These items were partially offset by unfavourable policyholder experience and a charge in our Property and Casualty Reinsurance business for losses related to Hurricane Ida and the European floods. Embedded Value Report Available: https://www.statista.com/statistics/788249/revenue-of-manulife-worldwide-by-division/, Revenue of Manulife Financial worldwide in 2021, by division, Immediate access to statistics, forecasts & reports, Leading premium writing countries globally 2021, by premiums, Number of people with health insurance Canada 2020, by coverage type, ESG scores of the worlds' largest insurance companies 2022, by provider, Distribution of life insurance premiums in Canada 2020, by type, Value of direct P&C insurance premiums written in Canada 2020-2021, by line, Value of net P/C insurance premiums written in Canada 2020-2021, by line, Net claims incurred by auto insurance in Canada 1990-2021, Net claims incurred by liability insurance in Canada 1990-2021, Top medical professional liability insurers North America 2020-2022, by market share, Top medical professional liability insurers North America 2020-2022, by premiums, Revenue of Manulife Financial worldwide 2021, by division, Total assets of Manulife Financial worldwide 2014-2021, Net premiums written for property and casualty insurance in Canada 1990-2021, Net premiums written for personal property insurance in Canada 1990-2021, Net premiums written for commercial property insurance in Canada 1990-2021, Net premiums written for liability insurance in Canada 1990-2021, Long-term investments of life insurers in Canada in 2020, by type, Assets of insurance companies in Canada 2002-2021, Leading most trusted industries in Canada 2022, Attitudes towards insurances in Canada 2022, Share of companies with cyber insurance worldwide 2021, Revenue of Manulife Financial worldwide 2014-2021, Liabilities of Manulife Financial worldwide 2014-2021, Dividend per share of Manulife Financial worldwide 2014-2021, Employees Manulife Financial worldwide 2017, by division, Gross profit of China Taiping Insurance 2010-2021, Uruguay: opinions on fintech regulation 2018, Share of Gen Y consumers who would consider buying insurance from GAFA worldwide 2016, China Pacific Insurance's gross profit 2021, Revenues of China Life Insurance 2010-2021, Private health insurance in the United States, Revenue of Manulife Financial worldwide in 2021, by division (in million Canadian dollars), Find your information in our database containing over 20,000 reports. Webcast Manulife Financial Corp revenue for the twelve months ending March 31, 2023 was $25.605B, a 46.35% decline year-over-year. The SIP has been updated primarily to reflect the adoption of IFRS 17 insurance contracts and IFRS 9 financial instruments effective January 1, 2023. An archived version of the webcast will be available on the website following the call at the same URL as above. . Slides Manulife Singapore Critical Illness (CI) insurance plans cover 106 different conditions and illnesses, such as cancer, heart attack, and stroke. In Asia, NBV of $1.7 billion increased 27% driven by higher sales volumesin Hong Kong, Singapore, mainland China, Vietnam and Other Emerging Markets2, favourable product mix in Singapore and Vietnam and favourable interest rates and product management actions in Hong Kong; partially offset by a decline in Japandue to lower sales. News Release From localising campaigns to surprising fans with egg-cellent moments, Jeffreys marketing symphony in Southeast Asia is hitting all the right notes. [31][32], In 2013, Richard DeWolfe became the chair of the company's board,[33] succeeding Gail Cook-Bennett, who retired after serving 34 years on the board. InHong Kong, APE sales increased 11% despite the dampening effect of COVID-19 containment measures constraining cross-border travel between Hong Kong and mainland China, reflecting strong growth in our bank channel, and demand from mainland Chinese visitors through our Macau branch. Supervisory Approach and Regulatory Instruments, International and Regional Collaborations, Grants for Smaller Financial Institutions, Recent Economic Developments in Singapore, Singapore Overnight Rate Average (SORA) Interest Rate Benchmark, Singapore Government Securities (SGS) Bonds, Investing in Singapore Government Securities (SGS) Bonds, Investing in Singapore Savings Bonds (SSB), Brunei-Singapore Currency Interchangeability Agreement, Financial Sector Development Fund Annual Report, Interest Rates of Banks and Finance Companies, Monetary Authority: Assets and Liabilities, International Reserves/Foreign Currency Liquidity, Reserves Management Government Securities, View a list of Application Programming Interfaces (APIs), Opportunities for Mid-Career Professionals. Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. For local and international locations, please call 416-340-2217 or toll free, North America 1-800-806-5484 (Passcode: 4624021#). You only have access to basic statistics. Statistical Information Package (PDF) Fixed income reinvestment rate gains were driven by the flattening of the yield curve in Canada and the U.S. and, to a lesser extent, widening corporate spreads in the U.S. The forward-looking statements in this document are, unless otherwise indicated, stated as of the date hereof and are presented for the purpose of assisting investors and others in understanding our financial position and results of operations, our future operations, as well as our objectives and strategic priorities, and may not be appropriate for other purposes. ET on February 10, 2022. In the U.S., we continued to execute on our portfolio optimization and made gains in behavioural insurance. How to Grow My Wealth Through Investment Plans, How Can I Protect Myself And My Loved Ones Financially Through Life Insurance, How Health Insurance Can Protect You From High Medical Expenses, protect myself and my family financially with life insurance, protect myself against lifes uncertainties with health insurance. Learn more about how to make a change to your Manulife Singapore policies. Chart. 3.00% SG$500 million (Singapore dollars) subordinated debt due 21 November 2029, callable 21 November 2024 3.317% C$600 million (Canadian dollars) subordinated debt due 9 May 2028, callable 9 May 2023, redeemed 9 May 2023 . [11], In 1931, it opened its first southern China branch in British Hong Kong. It promotes transparency and integrity in business. Then you can access your favorite statistics via the star in the header. In Canada, APE sales increased 20%, primarily driven by increased customer demand for our lower risk segregated fund products and higher individual insurance sales. [36] In September of that year, Manulife agreed to acquire the Canadian operations of Standard Life for a fee of around US$3.7 billion. The company's research also showed these results: Top news, insights and analysis every weekday. The net charge was primarily driven by a $532 million charge relating to theimpact of updated ultimate reinvestment rate assumptions issued by the Canadian Actuarial Standards Board. Learn more about how Statista can support your business. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. MUST is a Singapore-based real estate investment trust that owns and manages commercial properties. [22], In 2003, Manulife-Sinochem received approval for a branch office in Beijing, the first multiple-branch license granted to a foreign-invested joint venture life insurance company. Net inflows in Retail were $29.2 billion compared with net inflows of $3.5 billion in the prior year, driven by double-digit growth in gross flows across all geographies amid increased investor demand and lower mutual fund redemption rates. Find out more about our plans below or speak to one of our Financial Consultants today. Presentation slides and video on conceptual overview of IFRS 17 and IFRS 9 adoption. This includes promoting a risk-awareness culture, establishing and maintaining an enterprise risk - management framework. All links are to external sites. Grow and leave a legacy with our premium suite of solutions. Learn how to auto re-balance your portfolio, perform a fund switch and perform redirection of premiums. Core investment gains are disclosed under the OSFI's Source of Earnings Disclosure (Life Insurance Companies) guideline. Target. . American Equity Investment Life Holding (AEL), Manulife Financial Corp Revenue 2010-2023 | MFC, Manulife Financial Corp revenue for the quarter ending March 31, 2023 was, Manulife Financial Corp revenue for the twelve months ending March 31, 2023 was, Manulife Financial Corp annual revenue for 2022 was, Manulife Financial Corp annual revenue for 2021 was, Manulife Financial Corp annual revenue for 2020 was. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to the performance, volatility and correlation of equity markets, interest rates, credit and swap spreads, currency rates, investment losses and defaults, market liquidity and creditworthiness of guarantors, reinsurers and counterparties); the ongoing prevalence of COVID-19, including any variants, as well as actions that have been, or may be taken by governmental authorities in response to COVID-19, including the impacts of any variants; changes in laws and regulations; changes in accounting standards applicable in any of the territories in which we operate; changes in regulatory capital requirements; our ability to execute strategic plans and changes to strategic plans; downgrades in our financial strength or credit ratings; our ability to maintain our reputation; impairments of goodwill or intangible assets or the establishment of provisions against future tax assets; the accuracy of estimates relating to morbidity, mortality and policyholder behaviour; the accuracy of other estimates used in applying accounting policies, actuarial methods and embedded value methods; our ability to implement effective hedging strategies and unforeseen consequences arising from such strategies; our ability to source appropriate assets to back our long-dated liabilities; level of competition and consolidation; our ability to market and distribute products through current and future distribution channels; unforeseen liabilities or asset impairments arising from acquisitions and dispositions of businesses; the realization of losses arising from the sale of investments classified as available-for-sale; our liquidity, including the availability of financing to satisfy existing financial liabilities on expected maturity dates when required; obligations to pledge additional collateral; the availability of letters of credit to provide capital management flexibility; accuracy of information received from counterparties and the ability of counterparties to meet their obligations; the availability, affordability and adequacy of reinsurance; legal and regulatory proceedings, including tax audits, tax litigation or similar proceedings; our ability to adapt products and services to the changing market; our ability to attract and retain key executives, employees and agents; the appropriate use and interpretation of complex models or deficiencies in models used; political, legal, operational and other risks associated with our non-North American operations; acquisitions and our ability to complete acquisitions including the availability of equity and debt financing for this purpose; the disruption of or changes to key elements of the Company's or public infrastructure systems; environmental concerns; our ability to protect our intellectual property and exposure to claims of infringement; and our inability to withdraw cash from subsidiaries. You need at least a Starter Account to use this feature. (2) Income tax on core earnings adjusted to reflect the foreign exchange rates for the Statement of Incomein effect for 4Q21. The Canadian division offers a diverse portfolio of products, services and distribution channels. The new joint venture, Manulife TEDA Fund Management Company Ltd. (Manulife TEDA), provides traditional retail and institutional asset management for clients in China. In U.S. Retirement, 88% of plan enrollees adopted our new digital express enrollment capability, that delivers a simple, fast and seamless way to enroll in their plan and benefit from access to personalized guidance. Statistical Information Package (PDF) We do not undertake to update any forward-looking statements, except as required by law. [39], In April 2016, Manulife became the first Canadian insurance company to offer life insurance to people who are HIV-positive, insuring people who have tested HIV-positive, who are between the ages of 30 and 65, and meet certain other criteria for life insurance policies that would pay up to $2 million upon death. The forward-looking statements in this document include, but are not limited to, statements with respect to possible share buybacks under our NCIB, the impact related to the reinsurance of our legacy U.S. variable annuity block, and also relate to, among other things, our objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "estimate", "believe", "plan", "objective", "aim", "continue", and "goal" (or the negative thereof) and words and expressions of similar import, and include statements concerning possible or assumed future results. Learn more about your privacy options. INSPIRATION STATION: Taking AI-generated art beyond the amateur hour, Fred & Farid redefines creative artistry for milestone anniversary celebrations. [8] Its first president was John A. Macdonald, the first Prime Minister of Canada. [35], In 2014, Manulife Financial simplified its logo and brand to refer to itself only as Manulife outside of the United States. You need at least a Starter Account to use this feature. Manulife Singapore self serve section provides policy holders with information on how to file a claim, access policies and make changes to policies. [21] On September 29, 2003, Manulife announced its intent to acquire the Boston-based insurance company John Hancock Financial (including a Canadian subsidiary, Maritime Life) for $10.4 billion in a stock-for-stock merger. Manulife continued to offer abstainers rates into the 1920s. Payment by cheque, cashier's order or bank draft, Arrange for a business reply envelope to Manulife, How to Grow My Wealth Through Investment Plans, How Can I Protect Myself And My Loved Ones Financially Through Life Insurance, How Health Insurance Can Protect You From High Medical Expenses.
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