- Business
- Manulife Financial Corporation (MFC) is a leading Canadian multinational financial services company that provides life and health insurance protection products; wealth and asset management solutions including mutual funds, segregated funds, ETFs, annuities, pension products and private credit; reinsurance services in the property retrocession market; and innovative banking services through its wholly-owned subsidiary Manulife Bank of Canada. Headquartered in Toronto, Ontario, and founded in 1887 as The Manufacturers Life Insurance Company, the company operates primarily in Canada and Asia under the Manulife brand and in the United States through its John Hancock Financial division, serving individual, group, institutional and retirement clients across these regions as well as internationally. Manulife ranks as Canada's largest insurance company and the 28th largest fund manager globally by institutional assets under management, with approximately CA$1.4 trillion in assets under management and administration.
The company maintains a diversified business across wealth and asset management; insurance and annuity products; and corporate and other segments, targeting personal and business clients with financial protection and investment management offerings. Its U.S. operations under John Hancock focus on retirement plans, life insurance and investment products for middle-income clients, while Asia operations emphasize growth in high-potential markets including recent expansions in India and Cambodia. Manulife also provides asset management through joint ventures such as Manulife TEDA in China and Mahindra Manulife Investment Management in India.
Recent strategic developments include the completion of its acquisition of a 75% stake in Comvest Credit Partners in October 2025, creating Manulife | Comvest Credit Partners, a leading private credit platform managing over $18 billion in assets that enhances its alternative credit capabilities and global distribution for institutional, retirement and retail clients. In November 2025, Manulife announced a joint venture with Mahindra & Mahindra to enter the Indian life insurance market, building on its existing asset management partnership and supported by a $350 million commitment through 2030 to its new Manulife Longevity Institute for research and investment platforms focused on longevity trends. These moves, alongside CEO Phil Witherington's strategy emphasizing AI investments and U.S. middle-market expansion, drive core earnings growth of 8% and new business value up 32% on a constant exchange rate basis as of the latest reporting.