Dublin, June 18, 2024 (GLOBE NEWSWIRE) -- The "Manulife Financial Corp. (Manulife) - Digital Transformation Strategies" company profile has been added to ResearchAndMarkets.com's offering. Manulife offers insurance products and financial services. It operates under the Manulife brand across Canada, Europe, and Asia, and under the John Hancock brand in the US. The report provides comprehensive information and insights into Manulife's technology activities, focusing on its digital transformation strategies an ...

Core Insights - Manulife and the World Economic Forum have launched the Prospering in Longevity Challenge to foster innovation in preventative healthcare and financial well-being solutions aimed at enhancing human longevity [8][9] - The challenge invites global start-ups to participate, with applications open until July 22, 2024, focusing on solutions that promote financial resilience and preventative healthcare [1][8] Company Overview - Manulife Financial Corporation is a leading international financial services provider headquartered in Toronto, Canada, offering financial advice and insurance across Canada, Asia, Europe, and the United States [5][13] - The company employs over 38,000 individuals and has more than 98,000 agents, serving over 35 million customers globally [5][13] Industry Context - The global population aged over 65 is projected to double to 1.6 billion by 2050, presenting significant health and wealth challenges [9] - Currently, individuals spend approximately 50% of their lives in less than good health, with 12% in poor health [2] Challenge Themes - The first Longevity Challenge focuses on two main themes: strengthening financial resilience across longer lives and embracing a preventative approach to healthcare [10] - Solutions sought include tools for better financial decision-making and early risk factor detection in healthcare [10] Partnership Goals - The partnership aims to democratize access to tools that enhance financial resilience and improve physical and mental health through innovative solutions [3][9] - This initiative is part of a broader multi-year partnership between Manulife and UpLink, which has previously focused on nature-based solutions to climate change [11]

For fiscal 2024, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $2.74 per share. MFC boasts an average earnings surprise of 8.1%. With a solid Zacks Rank and top-tier Value and VGM Style Scores, MFC should be on investors' short list. For value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style ...

Core Viewpoint - Manulife Financial Corporation has announced the pricing of a S$500 million offering of subordinated notes with a fixed interest rate of 4.275%, maturing on June 19, 2034, which will qualify as Tier 2 capital for the company [10]. Group 1: Offering Details - The offering is expected to close on June 19, 2024 [1]. - The Notes will bear interest at a fixed rate of 4.275% until June 19, 2029, and thereafter at a rate of 1.201% over the then-prevailing five-year SORA OIS rate [8]. - The Notes will mature on June 19, 2034 [8]. Group 2: Regulatory and Market Information - Approval in-principle has been received from the Singapore Exchange Securities Trading Limited for the listing and quotation of the Notes [6]. - The offering will be made solely to non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act [9]. - The Notes will constitute subordinated indebtedness, ranking equally with all other subordinated indebtedness of Manulife [3]. Group 3: Company Overview - Manulife Financial Corporation is a leading international financial services provider, with over 38,000 employees and serving over 35 million customers globally [12]. - The company operates as Manulife in Canada, Asia, and Europe, and primarily as John Hancock in the United States [12]. - Manulife trades as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' in Hong Kong [5][12].

Core Insights - Manulife Financial Corporation (MFC) has outperformed the S&P 500 with a 1-year total return exceeding 40% while maintaining a reasonable valuation grade of "C+" [1] - The company benefits from strong growth opportunities in Asia and stable earnings from North American insurance and wealth management, particularly in a prolonged high-interest rate environment [2] Financial Performance - Manulife reported a 21% increase in annualized premium equivalent sales and a 20% surge in core EPS, achieving a core ROE of 16.7%, surpassing its medium-term target of 15%+ [4] - The adjusted book value per common share rose by 11% to $33.39, supported by a strong balance sheet and a LICAT ratio of nearly 140%, providing financial flexibility for capital return strategies [5] Growth Drivers - The company experienced a 13% increase in overall annualized premium equivalent (APE) in Asia, with significant growth in bank assurance sales in mainland China, Singapore, and Japan, despite some weakness in Hong Kong and Vietnam [6][7] - Manulife's Global Wealth and Asset Management (WAM) segment saw a 55% year-over-year increase in net inflows, totaling $6.7 billion in Q1, contributing to a core EBITDA margin of 25.5% and a 25% growth in core earnings [10] Valuation and Market Position - MFC's valuation has become less attractive but remains relatively discounted compared to its financial sector peers, with a forward core EPS multiple of 9.5x, nearly 10% below the sector median [12][13] - The company offers a robust forward dividend yield of over 4.5%, approximately 25% above the sector median, appealing to income investors [14] Stock Performance and Outlook - MFC's stock has shown strong momentum, consistently forming higher lows and highs, indicating a constructive price action [16] - Despite potential profit-taking after a significant recovery, there are no immediate bearish signals, suggesting that further downside volatility could present buying opportunities [17][18]

Core Insights - Manulife Financial reported strong first-quarter 2024 core earnings of 70 cents per share, exceeding estimates by 6.1% and reflecting a year-over-year increase of 20.7% [2] - The company achieved core earnings of $1.3 billion (C$1.8 billion), marking a 16% improvement year over year, driven by robust growth in its insurance businesses and higher fee income in Global Wealth and Asset Management [2] Financial Performance - New business value (NBV) for the quarter was $488 million (C$669 million), a 34% increase year over year [3] - Annualized premium equivalent (APE) sales rose 21% year over year to $1.4 billion (C$1.9 billion) [3] - The new business contractual service margin (CSM) increased by 52% year over year to $480 million (C$658 million) [3] - The Global Wealth and Asset Management division generated net inflows of $4.9 billion (C$6.7 billion), up 55% year over year [3] Segment Performance - The Global Wealth and Asset Management division's core earnings were $260 million (C$357 million), up 25% year over year, with retirement net inflows of $2.3 billion (C$3.2 billion) more than doubling year over year [5] - The Asia division's core earnings totaled $488 million, reflecting a 39% year-over-year increase, with APE sales up 13% [6] - The Canada division reported core earnings of $265 million (C$364 million), a 3% increase year over year, with NBV rising 71% [7] - The U.S. division's core earnings were $335 million, up 18% year over year [7] Profitability and Capital Adequacy - Core return on equity expanded by 190 basis points year over year to 16.7% [4] - The Life Insurance Capital Adequacy Test ratio stood at 138% as of March 31, 2024 [4] Market Outlook - Estimates for Manulife have been trending downward, with a Zacks Rank of 3 (Hold), indicating an expectation of in-line returns in the coming months [11] - The stock has an aggregate VGM Score of B, with a strong value grade of A, placing it in the top 20% for this investment strategy [10]

Subject to certain conditions described in the prospectus supplement dated February 18, 2014 relating to the issuance of the Series 15 Preferred Shares, Manulife may redeem the Series 15 Preferred Shares, in whole or in part, on June 19, 2029 and on June 19 every five years thereafter. The Series 15 Preferred Shares have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United ...

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Core Viewpoint - Manulife Financial Corporation (MFC) has shown strong performance in the market, with an 18.5% increase in shares year to date, outperforming industry and sector averages [1] Financial Performance - MFC has a market capitalization of $47.2 billion and an average trading volume of 3.1 million shares over the last three months [1] - The company has delivered an earnings surprise in each of the last six quarters [2] - Manulife's return on equity (ROE) stands at 16.3%, exceeding the industry average of 15.5% [2] - The long-term earnings growth rate is pegged at 10%, with core EPS growth targeted between 10% and 12% over the medium term [3] Growth Drivers - The Zacks Consensus Estimate for MFC's earnings per share (EPS) is projected at $2.74 for 2024 and $2.96 for 2025, indicating year-over-year increases of 6.6% and 8% respectively [3] - The Asia business is a significant growth driver, with a target for it to account for half of the company's core earnings by 2025 [4] - MFC is expanding its Wealth and Asset Management business, focusing on Europe and the EMEA market as key growth areas [5] Strategic Initiatives - The company is investing in high-growth, less capital-intensive businesses, aiming for two-thirds of core earnings from these sectors [5] - MFC is enhancing its digital platform and adopting new technologies, including generative AI, in line with industry trends [6] Capital Position and Dividends - Consistent cash flow has led to a strong capital position, allowing MFC to increase dividends at a seven-year CAGR of 10% [8] - The company targets a dividend payout ratio of 35-45% over the medium term and aims for a leverage ratio of 25% [8] - Free cash flow conversion has remained above 100% in recent quarters, reflecting solid earnings [8]

C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945 TORONTO, May 21, 2024 /PRNewswire/ - Manulife Financial Corporation ("Manulife") today announced the applicable dividend rates for its Non-cumulative Rate Reset Class 1 Shares Series 15 (the "Series 15 Preferred Shares") (TSX: MFC.PR.L) and Non-cumulative Floating Rate Class 1 Shares Series 16 (the "Series 16 Preferred Shares"). With respect to any Series 15 Preferred Shares that remain outstanding after June 19, 2024, holders thereof will be entitled t ...