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Company Description

Contact Info

NT 11

200 Bloor Street East

Toronto, ON M4W 1E5

Canada

Phone: 416-926-3000

Fax:

Manulife Financial Corporation operates as a financial services company with principal operations in Asia, Canada, and the United States. The company offers financial protection and wealth management products and services to personal and business clients as well as asset management services to institutional customers. The company operates as Manulife in Canada and Asia and as John Hancock in the United States. It also provides investment management services with respect to the company’s general fund assets, segregated fund assets, mutual funds, and to institutional customers. In addition, the company offers specialized property and aviation retrocession products. Divisions The company’s business is organized into operating divisions, including Asia division, Canadian division and U.S. division. In addition, asset management services are provided by the company’s Investment division, operating as Manulife Asset Management (MAM). The Investment division’s external asset management business is included under the Corporate and Other segment. The company’s property and casualty reinsurance business line is reported under the Corporate and Other segment. Asia division This division provides insurance and wealth and asset management products in Asia. The company has operations in Hong Kong, the Philippines, Singapore, Indonesia, Taiwan, Mainland China, Macau, Japan, Vietnam, Malaysia, Thailand and Cambodia. The company operates through subsidiaries in Japan, the Philippines, Singapore, Indonesia, Taiwan, Thailand, Vietnam and Cambodia, and through branches of a subsidiary in Hong Kong and Macau. Since the Macau operations are managed in Hong Kong, they are reported as part of the Hong Kong operations. In Mainland China, the company operates through joint ventures. In Malaysia, the company operates through a publicly traded corporation with an ownership stake of approximately 59%. The company offers a portfolio of products and services, including life and health insurance, annuities, mutual funds and retirement solutions that cater to the needs of individuals and corporate customers. To reach its customers, the company distributes its products through a multi-channel network, including bank partners, independent agents, financial advisors and brokers, and approximately 63,000 exclusive agents, serving approximately 8 million customers. The bank partnerships include a regional partnership with DBS Bank Ltd., effective January 1, 2016, which along with six other exclusive partnerships gives the company access to approximately 18 million bank customers. Hong Kong and Macau In Hong Kong, the company offers individual life and health insurance, group life and health insurance, pension products and wealth management solutions, including mutual funds. In Macau, it provides primarily individual life and health insurance protection products and pension products. As of December 31, 2015, the company had approximately 7,000 agents in Hong Kong and Macau. Individual Operations The company’s Hong Kong individual business provides a range of life insurance, living benefits and wealth accumulation plans that can be tailored to meet customers’ medium and long-term financial planning needs. Life insurance products are primarily marketed through the company’s exclusive agents. Group Operations The company’s Hong Kong group businesses provide life and health insurance and pension products, mainly to small and medium-sized businesses. Group products include group term life insurance, major medical and outpatient plans, as well as defined contribution pension plans. Group products are distributed through the company’s exclusive agents, as well as through brokers. Hong Kong’s Group pension business launched the MPF business line in 2000 and the company continues to expand its MPF customer base, to both group and individual customers. The company also markets its life and health insurance and pension products in Macau through its exclusive agents located there. Wealth and Asset Management Operations The company’s Hong Kong wealth and asset management operations provide a suite of funds to investors with vari

 

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Valuation MFC Industry Range
Price/Earnings 14.7x
Price/Sales 0.9x
Price/Book 0.9x
Price/Cash Flow 13.8x
TEV/Sales NM Not Meaningful
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