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MFC News
MFC Events
Manulife Appoints Sinead O'Connor as Chief Actuary
Manulife has appointed Sinead O'Connor as Chief Actuary, effective October 12, reporting to Phil Witherington, President and Chief Executive Officer, and joining Manulife's Executive Leadership Team. O'Connor joined Manulife in 2007 and, in addition to her most recent role as Global Head of Inforce Management, she has served as Deputy Chief Actuary, Head of Group Actuarial, US IFRS Chief Actuary, and held leadership roles in Annuities, Long Term Care, and Finance.
Manulife Appoints Sarah Chapman as Global Chief Marketing & Customer Experience Officer
Manulife has appointed Sarah Chapman as Global Chief Marketing & Customer Experience Officer, effective January 1, 2027, reporting to Phil Witherington, President and CEO, and joining Manulife's Executive Leadership Team. Chapman will lead Manulife's Global Marketing organization, with responsibility for the company's brand, marketing and enterprise customer experience strategies. Chapman currently serves as CMO for Manulife Canada and leads the company's global Digital, Customer Centricity and Sustainability agendas. Chapman succeeds Karen Leggett, who will retire from Manulife at the end of this year.
Manulife Financial Agrees to Biometric Risk Reinsurance with Munich Re
Manulife Financial announced that it has agreed to reinsure biometric risk on a block of long-term care policies with $3.2B of reserves to Munich American Reassurance Company, a subsidiary of Munich Re Group, highlighting the company's continued efforts to reduce the risk profile of its inforce portfolio. The transaction is expected to close in Q4 2026 pending regulatory approvals. Key highlights of the transaction include: Full risk transfer on biometric risk on $3.2B of LTC reserves to Munich Re Life US. Inclusive of our previous LTC reinsurance transactions, upon closing Manulife will have cumulatively reduced LTC morbidity sensitivity by 24%. Similar pricing to prior deals, with a modest negative 5% cede, further validating reserves and assumptions. Transaction largely neutral to capital, with immaterial annual impact to both core earnings and net income attributed to shareholders of about $30M in the first year and reducing over time.
Manulife Reports 16% Increase in Core EPS for Q2
Phil Witherington, Manulife President & Chief Executive Officer: "Manulife delivered a strong second quarter, with disciplined execution driving momentum against our strategic priorities. Core EPS increased 16% year over year, and all three insurance segments delivered double-digit top-line growth, underscoring the strength of our diversified portfolio. In Asia, core earnings grew 21%, complemented by double-digit growth across all three new business metrics, while Global WAM expanded its margin and generated positive net flows, including strong contributions from our recently acquired CQS and Comvest businesses. Manulife continued to strengthen our distribution capabilities and advance product innovation, including the launch of new high-net-worth insurance solutions, the expansion of ETF-based investment offerings in Global WAM, and a new advisor network in the U.S. We are also accelerating the integration of AI across our business to enhance customer and distributor experiences, improve efficiency, and deliver tangible value. Recent industry recognition underscores our AI leadership and ability to scale innovation globally. The long-term care reinsurance transaction announced today will further reduce our risk profile, highlighting how we're continuing to strengthen our business through innovative actions. We remain well positioned to continue executing on our strategy to generate sustainable growth over the long-term."
Manulife Renews Five-Year Partnership with Microsoft
Manulife and Microsoft announced the renewal and expansion of their relationship, supporting Manulife's strategic priority to become an AI-powered organization. As part of this partnership, Manulife has adopted Microsoft 365 E7 Frontier Suite capabilities to enable innovation at scale with secure cloud and AI solutions. This includes expanding adoption of Microsoft 365 Copilot to over 30,000 employees and deploying Microsoft Agent 365 - a next-generation suite that provides a control plane for governing, monitoring, and securing AI agents at enterprise scale. The five-year agreement supports Manulife's continued transformation and responsible scaling of AI-enabled capabilities across its global operations. Manulife will also deploy Microsoft Agent 365, to serve as a registry for AI agents across the enterprise, providing a single interface to observe, govern, and manage how AI agents operate.
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