Manulife Financial completes acquisition of Benesure Canada Inc.

Becomes Canada's largest provider of mortgage insurance solutions for mortgage 
WATERLOO, ON, Jan. 4, 2013 /CNW/ - Manulife Financial today is pleased to 
announce that it has completed its previously announced acquisition of 
Benesure Canada Inc., Canada's leading third party administrator and 
distributor of life and disability insurance solutions to the mortgage broker 
With the announcement of this transaction, Manulife Affinity Markets becomes 
Canada's largest provider of mortgage insurance solutions for mortgage 
brokers, with revenue premiums in excess of $65 million from more than 170,000 
Benesure Canada Inc. clients. 
"Strategically, this transaction positions us well for growth in a 
highly-stable, key Canadian market, enabling us to serve even more Canadians 
and meet their broad range of insurance needs", said Wally Thompson, 
Vice-President, Client Relations and Business Development, Manulife Affinity 
Markets. "We look forward to continuing to deliver excellent solutions to both 
the mortgage industry and Canadian borrowers and to further building a 
leadership position in the mortgage creditor marketplace, particularly among 
mortgage brokers." 
This latest acquisition announcement complements other Manulife Financial 
transactions including Pottruff & Smith Travel Insurance Brokers Inc. (2009) 
and, most recently, the acquisition of Wellington West Financial Services Inc. 
(2012). Financial terms of the deal were not disclosed. 
About Benesure Canada Inc. 
Benesure Canada Inc. provides mortgage life and disability insurance under the 
brand names of Mortgage Protection Plan and Credit Security Plan distributed 
through mortgage brokers and non-bank lenders. Its insurance distribution arm, 
Credit Security Insurance Agency Inc., operates in all provinces. The 
organization, which employs more than 50 people including regional 
representatives across Canada, is located in Kleinburg, Ontario. 
About Manulife Financial 
Manulife Financial is a leading Canada-based financial services group with 
principal operations in Asia, Canada and the United States. Clients look to 
Manulife for strong, reliable, trustworthy and forward-thinking solutions for 
their most significant financial decisions. Our international network of 
employees, agents and distribution partners offers financial protection and 
wealth management products and services to millions of clients. We also 
provide asset management services to institutional customers. Funds under 
management by Manulife Financial and its subsidiaries were C$515 billion 
(US$523 billion) as at September 30, 2012. The Company operates as Manulife 
Financial in Canada and Asia and primarily as John Hancock in the United 
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and 
under '945' on the SEHK. Manulife Financial can be found on the Internet at 
Media Contact: Jana Miller Manulife Financial 519-594-4597 
SOURCE: Manulife Financial Corporation 
To view this news release in HTML formatting, please use the following URL: 
CO: Manulife Financial Corporation
ST: Ontario
-0- Jan/04/2013 15:30 GMT
Press spacebar to pause and continue. Press esc to stop.