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Manulife Financial Corp Price Target Raised to C$48.00/Share From C$47.00 by Cormark Securities
Invesco Wealth and Asset Management appointed the head of the Asia Pacific region.
Manulife Investment Management has announced the appointment of Fabio Fontainha as Head of Wealth and Asset Management for Asia, effective February next year. He will succeed Michael Dommermuth, who will be leaving at the end of this year, to lead the Asia team. Fabio Fontainha will be based in Hong Kong and report to Paul Lorentz, while being accountable to Phil Witherington, President and CEO of Manulife Asia. He was previously with citigroup.
Manulife Financial Signs CA$5.4 Billion Reinsurance Deal
Manulife Financial-S (00945.HK) announced a reinsurance trade of 5.4 billion Canadian dollars with RGA, which involves a long-term care insurance business of 2.4 billion Canadian dollars.
On November 21, Glonghui reported that manulife financial-S (00945.HK) announced today that, on November 20, 2024 (Toronto time), it has reached a reinsurance agreement with reinsurance group of america for CAD 5.4 billion, which includes CAD 2.4 billion in LTC reserves. The company will reinsurance a total of CAD 5.4 billion in reserves for two groups of existing businesses to RGA. These two business groups involve part of the usa LTC business and the usa structured settlement arrangements. The LTC business accounts for CAD 2.4 billion.
Press Release: Manulife Financial Corporation Announces Dividend Rates on Non-cumulative Rate Reset Class 1 Shares Series 17 and Non-cumulative Floating Rate Class 1 Shares Series 18
GUM: At the end of October, the total assets of the MPF market declined by 2.6%.
GUM released the analysis report on the MPF market for October. As of the end of October, the total assets of the MPF market dropped by 2.6% to 1.29 trillion yuan. Manulife ranks first with a market share of 27.8%, while HSBC shows the most significant increase in market share, ranking second at 17.8%. Following closely are Sun Life, AIA, and Bank of China pru. The largest decline in market share was experienced by SinoPac, down by 0.21%, mainly due to net fund outflows. GUM's strategy and investment analyst, Yung Tin-fai, stated that MPF members' hedging sentiment gradually eased in October, leading to a renewed inflow into equity funds. Besides the popularity of US equity funds, the market generally anticipates that the central government will introduce.
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