Manulife offers condolences to those affected by U.S. attacks

Manulife Financial is extending its condolences to those affected by the Tuesday’s terrorist attacks in the United States.

In a statement, Dominic D’Alessandro, president and CEO of Manulife Financial, reported that all Manulife employees are safe and fully accounted for.

D’Alessandro said that Manulife is currently evaluating the financial impact that tragedy will have on its business. Although he said that the magnitude of the disaster is not yet clear, “our reserving, retention and diversification policies will protect us from an unusually high level of losses. It is our expectation that the net losses to Manulife are unlikely to exceed $100 million.”

He added that Manulife is resuming financial transaction processing for customers in Canada and the U.S. as markets re-open. He noted that transactions of pension and unit-linked funds in Hong Kong are suspended. Transactions of mutual funds with U.S. equity content are remain suspended. All other mutual funds are open.