The firm was established as The Manufacturers Life Insurance Company in 1887. Its first president was John A. Macdonald, the primary Prime Minister of Canada. The organization sold its first arrangement outside of Canada in Bermuda in 1893, where the organization had opened its first helper office the equivalent year. In quite a while, were sold in Grenada, Jamaica and Barbados; Trinidad and Tobago, and Haiti in 1895; and British Honduras, British Guiana, China and British Hong Kong in 1897. b2b-ste
Previous Manulife logo from 1996 to 2018.
In 1901, Manulife amalgamated with the Temperance and General Life Assurance Company, a Toronto-based Canadian life safety net provider that gave favored rates to teetotalers of liquor. Manulife kept on offering teetotalers rates into the 1920s.
In 1931, it opened its first southern China branch in British Hong Kong. Presently, it set up itself as a main life back up plan in the area with branches in Macau, Shantou and Amoy.
In 1958, investors casted a ballot to change its authoritative document from a business entity to a common association, making the organization exclusive by its policyholders.
In 1984, Manulife declared that it had obtained Waterloo, Ontario-based Dominion Life Assurance Company, an arrangement that incorporated the acquisition of the entirety of the extraordinary load of the organization from Lincoln National. Dominion Life was established in Waterloo in 1889, and Manulife made a guarantee to the local area to hold a huge presence in Waterloo. In 1988, Manulife opened another five-story place of business at 500 King Street North in Waterloo to house its Canadian Division.
In 1996, the organization entered a concurrence with Sinochem to frame Shanghai-based Zhong Hong Life Insurance Co. Ltd., China’s first joint endeavor life coverage organization, and was conceded a permit that made it the second unfamiliar insurer to be permitted reemergence into China.
Demutualization and public organization
In 1999, its democratic qualified policyholders affirmed demutualization, and the portions of Manulife, the holding organization of The Manufacturers Life Insurance Company and its auxiliaries, started exchanging on The Toronto Stock Exchange (TSX), the New York Stock Exchange (NYSE) and the Philippine Stock Exchange (PSE) under the ticker “MFC”, and on The Stock Exchange of Hong Kong (SEHK) under the ticker “945”.[better source needed]
“Local area” authorized by Manulife Financial by Kirk Newman (2001) – Toronto, Canada
In 2002, Manulife–Sinochem Life Insurance Co. Ltd. was conceded endorsement by the China Insurance Regulatory Commission (CIRC) to open a branch office in Guangzhou, China, the primary branch permit allowed to an unfamiliar contributed joint–adventure extra security company.
In 2003, Manulife-Sinochem got endorsement for a branch office in Beijing, the main numerous branch permit conceded to an unfamiliar contributed joint endeavor extra security organization. The firm is currently authorized to work in excess of 50 Chinese cities. On September 29, 2003, Manulife reported its aim to obtain the Boston-based insurance agency John Hancock Financial (counting a Canadian auxiliary, Maritime Life) for $10.4 billion of every a stock-for-stock merger. The consolidated substance would at first be driven by John Hancock’s CEO David F. D’Alessandro, however he would venture down in June 2004.
In 2008, Manulife declared that Gail Cook-Bennett would turn into the main female Chair of the Board. Cook-Bennett was the principal female Board Member of the organization named in 1978.
In September 2009, the organization bought AIC’s Canadian retail speculation reserve business. In October 2009, it bought Pottruff and Smith Travel Insurance Brokers Inc., a Canadian intermediary and outsider head of movement insurance.
In 2010, the organization declared that it had bought Fortis Bank SA/NV’s 49% proprietorship in ABN AMRO TEDA Fund Management Co. Ltd. The new joint endeavor, Manulife TEDA Fund Management Company Ltd. (Manulife TEDA), gives conventional retail and institutional resource the executives for customers in China. The other 51% is possessed by Northern International Trust, part of Tianjin TEDA Investment Holding Co., Ltd. (TEDA).
In June 2012, the organization opened Manulife Cambodia, with base camp in Phnom Penh.