The global headquarters of the new company remained in Toronto , and the combined entity kept the Manulife Financial name while retaining the John Hancock brand in the US. The global financial crisis was a particularly challenging time for Canadian insurance companies. To resolve the crisis situation, global monetary authorities significantly increased the supply of money and lowered interest rates. For life insurance companies who had sold products with guaranteed payouts, this meant they had trouble matching their committed higher payouts with the low-income yields that they earned on their investments.
The loss was mainly due to the mix of insurance and annuity products in its John Hancock subsidiary. It also announced, in August , that for the first time in its history, it would have to reduce its dividend to shareholders in order to better manage its cash flow. The challenges continued as the world struggled to overcome the financial crisis, as interest rates remained low and as stock prices declined. Over the next few years, Manulife slowly recovered from this challenge.
In , Standard Life, whose Canadian operations were based in Montreal , had agreed to a takeover by Manufacturers Life, based on its nervousness over the nationalist policies of the Quebec government at the time. The successful acquisition of Standard Life gave a much stronger Quebec presence for Manulife Financial. The fine was for assisting a Winnipeg-based felon and pharmacist in selling counterfeit medication to Americans over the internet. Rod McQueen.
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XLS format. PNG format. PDF format. A history of firsts From being the first in North America to insure people living with diabetes to launching AI in underwriting in Canada, our history is one of innovation, leadership and finding new ways to make decisions easier and lives better.
Net zero emissions We announce a net zero emissions commitment to support climate goals worldwide. Brand transformation Manulife and John Hancock launch global rebrand. AI Manulife is the first Canadian life insurer to underwrite using artificial intelligence. Vitality Go We are the first company to fully embrace behavioural-based life insurance with the launch of John Hancock Vitality Go on all life insurance policies at no additional cost to the customer. Setting a world record Manulife insurance agent Joe Sun makes the record books for an astounding year career!
Alexa skills Manulife launches two new skills for Amazon Alexa. Twine app John Hancock launches an app that helps couples plan their finances. Mobile claims China accepts claims via WeChat. Biometrics Manulife is the first company in Canada to introduce voice biometrics and natural language understanding in an interactive voice response IVR system.
ManulifeMOVE Manulife Asia launches an innovative insurance concept that rewards customers for being healthier and more active. Supporting wellness with Vitality We start a first-ever life insurance partnership between John Hancock Insurance and Vitality, the global leader in integrating wellness benefits with life insurance products.
Cambodia Our Cambodian head office opens. We merge with John Hancock It makes us the largest life insurer in Canada, second largest in North America and fifth largest in the world. Japan and Vietnam Manulife is the first Canadian insurer to launch a joint venture in Japan, and the first foreign-owned insurance company to do business in Vietnam.
Lower premiums for non-smokers We are one of the first insurers to offer lower rates to non-smokers. First female Director and Chair Dr. Insurance for people with diabetes We are the first North American company to offer life insurance to people living with diabetes. Entry into the US market A small office in Detroit opens its doors. We expand into Asia The first Manulife policy is sold in Shanghai. International expansion begins The sale of our first policy outside Canada, in Bermuda, kicks off our international operations.
The Manufacturers Life Insurance Company is founded Manulife offered two innovative insurance products to Canadians right away and insured lives in Contact our Corporate Archives team for more information. Email us.
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Privacy policy Legal. Real Estate Investments. Accessibility Manulife Re. Fraud prevention centre. Mental health is a key priority. The company also organized Camp Manulife, a virtual summer camp for over 2, children of employees.
Kitchen says she has been most impressed by the way employees are managing the personal challenges of dealing with a pandemic while continuing to contribute to their communities and provide excellent client service. All of these values, which were developed and adopted in consultation with employees two years ago, have taken on a new resonance.
But after two four-month internships with Manulife during the winters of and , Silcher knew she had found her calling. The Manulife internships showed me this field of work could be diverse, exciting and innovative. That support includes mentorship, paid study leave, and reimbursement for preparatory courses for the CPA exam.
At the same time, Silcher has enjoyed the opportunity to take on increasingly complex and interesting work assignments as well as a workplace culture that remains collaborative and engaged — despite the limitations imposed by the COVID pandemic. When the pandemic struck, Manulife pivoted quickly to employees working from home. The company also adapted so that its popular co-op program and internships, as well as its general recruitment and onboarding efforts, proceeded virtually.
Leaders and managers were given the tools and encouraged to stay in close contact with their teams. Those sessions, previously done in person, have been delivered virtually in recent months. When it comes to new employees, Manulife looks for people who are a good fit with its values-based culture. Those values include doing the right thing, thinking big, getting it done together and an obsessive focus on customer satisfaction.
Employees are given a paid day annually to volunteer for a charitable or non-profit organization of their choice. Social media immediately lit up with stories of employees contributing to food banks, homeless shelters and other worthy organizations.
Silcher concurs. Here are some of the reasons why Manulife was selected as one of Canada's Best Diversity Employers :. After joining Manulife last October, Michelle Taylor-Jones sensed immediately that she had landed at a company whose values and priorities matched her own. While DEI had long been a priority for Manulife, Taylor-Jones arrived at a time when the Toronto-based insurance and financial services firm had taken its commitment to another level.
Manulife also pledged to hire at least 25 per cent BIPOC talent in its annual graduate hiring — a goal it has already exceeded — and to boost BIPOC representation in leadership roles by 30 per cent over the next five years across its North American operations. Taylor-Jones says that meeting those goals requires a multi-pronged approach. Schazelle York Narayan is a senior training and development consultant with Manulife in Toronto.
She is also co-chair of the employee resource group VIBE Valuing the Inclusion of Black Experiences , which she joined shortly after it was formed in With over members, VIBE works on three key fronts — career development, community and connection.
The event drew a record attendance across North America for this kind of session. Beyond being the right thing to do, DEI makes companies like Manulife more innovative, financially successful and connected to the community, says Narayan. Here are some of the reasons why Manulife was selected as one of Canada's Greenest Employers :.
In recent years, the Toronto-based insurance and financial services firm has introduced honeybee hives to many of its properties across North America. Today, more than three million honeybees make their home on a Manulife-owned rooftop. Then there are the more than properties Manulife owns or manages across 27 cities and 11 countries.
Smith adds that the recent experience of dealing with the COVID pandemic has put the importance of sustainability in even sharper focus. Members of Manulife's Global Women Alliance attend an event. Manulife employees. Employer Background. Pandemic response hosted numerous initiatives over the pandemic, such as additional paid days off to help employee focus on their well-being including a dedicated Thank You day to recognize their hard work , unique Camp Manulife for kids to assist employees with kids at home due to school closures , virtual town halls and Ask Me Anything sessions with senior leaders, and a virtual speaker series to help inspire employees.
Employee social committee name Manulife Staff Association est. Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job Vacation jump vacation increases after 10 years of employment Maximum vacation allowance employees move to a maximum of 5 weeks of vacation over their career Personal paid days off employees can schedule 5 personal days off each year, as needed Company paid days off employees receive 3 personal days off, as determined by their employer Unpaid leave maximum 12 months.
Pandemic-related community initiatives During the pandemic, Manulife has focused support on several critical fronts, including supporting local food banks and distribution centres, supporting the well-being of health care workers through healthy meal programs at hospitals, offering financial relief to customers, and supporting matching donations and virtual volunteer programs for its employees.
Manulife employees at their winter social before the pandemic. Manulife students at the co-op Christmas lunch in Photo credit : Denis Chan.
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