Moody’s Investors Service downgraded ratings on several units of Manulife Financial Corp. on Wednesday, after the company reported its first ever quarterly loss last month.The ratings agency downgraded the insurance financial strength ratings on subsidiaries including John Hancock Life Insurance Co to Aa3 from Aa1, and lowered the debt ratings of the subsidiaries by two […]
Manulife Financial Corp. has completed its offering of 18 million preferred shares at a price of $25 per share for gross proceeds of $450 million, the company announced on Wednesday.The previously announced offering of non-cumulative 5-year rate reset class A shares, Series 4, was underwritten by a syndicate of investment dealers led by RBC Capital […]
Gross proceeds will now total $350 million, an increase from the $200 million originally expected
Offering will result in eight million shares sold for a total of $200 million
Manulife continues to be well capitalized and is able to withstand additional volatility
Downturn in equity markets forces insurer to hike reserves
Standard Life takes second place
Ratings agency affirms ratings insurer and its subsidiaries
Portable personal life and personal critical illness coverage now available to group benefits clients
Individual wealth management group honoured for customer service