Donald R. Lindsay has joined the board of directors at Manulife, effective August 1. Lindsay, the president and CEO of Teck Resources Limited, spent almost two decades with CIBC World Markets Inc., where he served as president after periods as head of investment and corporate banking and head of the Asia Pacific region. “Don Lindsay’s […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Manulife Financial has teamed up with MediResources Inc and improved its Health eLinks online resource by now providing group benefits plan members with access to an online health library and a new health-risk assessment tool, among others. “We believe our new […]
While guaranteed minimum withdrawal benefit funds have been a huge hit in the Canadian marketplace, at least one company isn’t looking to gain shelf space anytime soon. “We’re not excited about gaining market share until the product is more compatible with where we’re headed,” Manulife senior executive vice-present and chief financial officer Peter Rubenovitch told […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Manulife has retained its triple-A credit ratings, according to a report by Standard & Poor’s. S&P says Manulife’s financial announcement that it would take a $250 million charge in the third quarter would not affect the company’s ratings or outlook on […]
Manulife Financial expects to take a charge of about $250 million in the third quarter due to credit losses. That includes approximately $50 million due to reserve strengthening as a result of credit downgrades. Despite these charges, the insurance company says asset quality remains very high. “Due to generalized spread widening, the gross unrealized losses […]
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 […]