With American International Group now in tatters, insurers around the world are poised to bid on parts of the troubled company, including Toronto-based Manulife Financial. While Dominic D’Alessandro, the company’s CEO, isn’t talking, it’s reported that he met with financial advisors last week to discuss how to take advantage of AIG’s likely dismantling. If Manulife […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Manulife Financial will take a charge in the third quarter due with respect to its holdings in AIG, Lehman Brothers and Washington Mutual. The company says it had investments at par value in Lehman of $395 million, $374 million in AIG, […]
Manulife Financial has appointed Donald A. Guloien to be the company’s next president and chief executive officer. He will take over the position on May 7, 2009, succeeding Dominic D’Alessandro, who will retire on that date. Guloien is a 28-year veteran of the firm and is currently senior executive vice-president and chief investment officer, as […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Manulife Financial has announced its newest innovation for group retirement savings clients with the launch of Group IncomePlus. Following the 2006 release of Manulife’s IncomePlus GIF Select for individuas, group retirement savings clients said there was a need for a comparable […]
Dominic D’Alessandro, Manulife’s chief executive officer, plans to step down next May. The 61-year-old has served as CEO since 1994 and oversaw the company’s demutualization as well as its U.S. expansion with the purchase of John Hancock. “The board was aware of the possibility that Dominic could elect to retire at the end of this […]
The Canada Pension Plan Investment Board’s chair, Gail Cook-Bennett, is slated to become the chair of Manulife’s board of directors later this year, according to the company’s proxy circular. It is anticipated that subject to her re-election at the insurance company’s 2008 annual meeting, she will be appointed chair of the board after her existing […]
The Caisse de dépôt et placement du Québec, OMERS, Manulife, and a company controlled by Hong Kong billionaire Li Ka-shing are buying $1.5 billion worth of CIBC stock by way of a private placement as the bank tries to enhance its capital position. The purchase price of the shares acquired by the private placement investors […]
Manulife Financial Group Benefits has launched a new service to help group plan members and their dependants access health information to cope with a critical, chronic or occasional health event. The service, called Health Service Navigator, provides a wide range of the latest healthcare information and resources and, where appropriate, it enables users to gain […]
Manulife Financial has been contracted by Canada Post to implement its absence solution product for their national disability management program. It represents the largest sale ever for the insurance company’s group benefits business and the biggest in the benefits industry in more than a decade. To service the contract, Manulife has opened a new absence […]
Manulife has unveiled new group insurance to offer lump-sum benefits to plan members and their families diagnosed with a critical illness. “For employers, offering critical illness insurance as part of a comprehensive and competitive group benefits plan also can help attract and retain employees, support employee health plus inspire loyalty in the workplace,” says Rick […]