NEW YORK, April 29- A major funds company is putting directors on notice: if you adopt poison pill anti-takeover measures without shareholder approval, you will be blacklisted. Since October, Dimensional Fund Advisors, the eighth largest U.S. mutual fund firm with $398 billion in assets, has been sending warning letters to companies whose stock it owns and who...
*Manulife expects deal to be accretive to EPS in 2017. Manulife expects the agreement to be accretive to core earnings per share in 2017 and the initial payment is expected to reduce Manulife's regulatory capital ratio by 10 points. Aviva was among the players competing for the new partnership that also included AIA Group Ltd and Prudential plc.
Analysts on average had expected Manulife to earn 41 Canadian cents a share. Manulife shares fell 4 percent to C $20.95 in Toronto following the results. The experience factors, as they're referred to in the insurance industry, consisted mainly of increased claims, particularly dental claims in Canada and long-term care claims in the United States, said Steve...
New York Life will also assume 60 percent of certain life insurance policies of Manulife's U.S. unit, John Hancock Financial, on a reinsurance basis, the Canadian company said. The combined business will have 2.5 million plan participants, Manulife said. Manulife and Britain's Standard Life agreed in September to a near- $4 billion deal for the Canadian...
Dec 23- Largest Canadian insurer Manulife Financial Corp's U.S. unit will buy New York Life Insurance Co's retirement services business for an undisclosed amount. New York Life will assume 60 percent of certain life insurance policies of Manulife's U.S. unit, John Hancock Financial, on a reinsurance basis, the Canadian company said. Manulife did not disclose...
Manulife, Canada's largest insurer, earns the bulk of its profit in North America but also has a fast-growing Asian unit. Insurance sales fell 19 percent in the United States, where Manulife owns John Hancock, and slumped 23 percent in Canada. Toronto- based Manulife said insurance sales rose 46 percent in Asia, while wealth management sales surged 74 percent.
Nov 13- Canada's Manulife Financial Corp reported a third-quarter core profit that narrowly missed analysts' expectations, as insurance and wealth management sales declined in Canada and the United States. While North America is the main drivers of the company's profit, Manulife has targeted Asia as a key growth area and reported strong sales in countries...
Nov 13- Life insurer Manulife Financial Corp reported a 6.4 percent rise in third-quarter profit, driven by strong sales in Asian markets such as Japan, Hong Kong and Indonesia. Net income attributed to shareholders rose to C $1.10 billion, or 57 Canadian cents per share, in the quarter ended Sept. 30 from C $1.03 billion, or 54 Canadian cents per share, a year earlier.
U.S. stocks ended near highs on Tuesday, with the Dow and S&P each edging up to a record close.
HONG KONG, Nov 7- U.S.-based Principal Financial Group Inc said on Friday it had agreed to buy French insurer AXA SA's Hong Kong retirement savings business for $335 million in what would be the city's first pension M&A deal in more than a decade. HSBC Plc and Manulife Financial Corp control nearly half of all retirement savings assets in Hong Kong, according to...
Citigroup has picked AIA as its partner in a deal that allows the insurer's products to be sold through the U.S. bank's network. The FT reports.
Robert Cook, President and CEO, Asia at Manulife Financial describes the "barbelling" approach that most Asian retail investors take when managing risk.
With reassurances that the Fed will keep on easing, markets turn their attention to the European Central Bank Thursday, hoping for a rate cut.
Long-term care insurance providers are hurting, and they are dreaming up new ways to share their pain with consumers. Here's how to cope.
The streets of Boston's financial district, usually bustling, were empty on Friday as a virtual lockdown for a police manhunt disrupted the largest center for U.S. mutual funds and affected trading across markets.
*Debt crises in Europe and U.S. could hit markets. With debt crises in Europe and the United States pressuring stocks and threatening another severe market downturn, analysts say one or more of the insurers could cut profit targets when they start reporting results on Wednesday.
TORONTO, Oct 30- Manulife Financial, one of North America's largest insurers, said its exposure to Hurricane Sandy was manageable and within its risk tolerance. Intact Financial, which is Canada's largest property& casualty insurer, said it has no exposure to the hurricane as it does not have any U.S. operations.
WASHINGTON, Oct 29- The U.S. Supreme Court refused on Monday to consider two appeals in a case weighing the ability of tens of millions of Americans to bring lawsuits over their retirement plans.
*TD Securities raises Sun Life Financial price target to C $28 from. *TD Securities raises Manulife Financial price target to C $15 from. *TD Securities raises Industrial Alliance price target to C $28 from.
*ING's first deal in Asia asset sell-off. HONG KONG/ AMSTERDAM, Oct 11- Pan Asian insurer AIA Group Ltd has agreed to buy ING's Malaysian insurance operations for $1.73 billion in cash, handing the Dutch financial services firm its first deal in a nine-month drive to sell off Asian assets.