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John Hancock Review

John Hancock Ratings and Company Information

Company Rating:
Best Insurance Reports: A++
Url of page where rating was collected:
http://www.ambest.com/ratings/

Best Rating: A.M. Best rating: A++ (highest possible)

Type of Insurance Company: Stock (parent)

Name of Parent Company:
Manulife Financial

Company Overview:
Company History: One of the oldest (and second largest) insurance companies in the U.S., John Hancock Insurance is now part of Manulife Financial of Canada. Parent is 5th largest life insurer in the world.

The John Hancock Life Insurance Company with headquarters in Boston, Massachusetts, traces its history to its incorporation in 1862. In 2004, John Hancock and its subsidiaries merged into the Manulife Financial Corporation of Toronto, Canada, becoming the primary U.S. arm of the Canadian company. The merger created the largest life insurance company in Canada (second largest in North America). In 2006, John Hancock ranked number 1 in life insurance sales among 78 major life insurance companies according to industry researcher LIMRA. Manulife Financial Corporation offers various financial protection and wealth management products and services including individual life insurance, group life and health insurance, living benefits insurance, long-term care insurance, pension products, annuities and mutual funds to individual and group customers in the U.S., Canada and Asia.

The U.S. life insurance operations focuses on the sale of life insurance products to middle and upper income individuals as well as on individual and group long term care insurance. The individual insurance operations are targeted primarily to high net-worth and emerging affluent markets. Estate planning and business planning are used to discover needs that can be served by an array of products that includes variable life insurance, term life, whole life, COLI, universal life, variable life and long term care insurance. The average ordinary life insurance policy issued in 2005 was for $781,267 as compared to an average of $44,890 for in force policies. Largest contributors to direct premium in 2005 were New York (19.5%), Massachusetts (16.2%) and Florida (10.0%).

The U.S. Wealth Management segment of the business offers group pension products (especially to small businesses) and variable and fixed annuities, mutual funds, 529 college savings plans, and managed accounts (to middle and upper income individuals). In the small employer market the company is a leader in providing 401(k) plans through third party administrators and broker-dealers. John Hancock’s variable annuity business is focused on financial planners, national wire houses, major producers, the John Hancock Financial Network of career agents and the Essex bank distribution system. The fixed annuity and structured settlements business has been focused on retail (rather than institutional) products and aligned with the Wealth Management operation. It is currently targeted primarily to structured settlements and immediate fixed annuities.

Distribution for the Manufactures Life Insurance Company (Manulife Financial) which demutualized in 1999 and became a wholly owned subsidiary of Manulife Financial Corporation, a publicly traded holding company, is through independent agents, career agents, broker dealers, wholesalers and financial institutions in 19 countries and territories.

Principle Sales Methods: Career agents.

The U.S. Wealth Management segment of the business offers group pension products (especially to small businesses) and variable and fixed annuities, mutual funds, 529 college savings plans, and managed accounts (to middle and upper income individuals). In the small employer market the company is a leader in providing 401(k) plans through third party administrators and broker-dealers. John Hancock’s variable annuity business is focused on financial planners, national wire houses, major producers, the John Hancock Financial Network of career agents and the Essex bank distribution system. The fixed annuity and structured settlements business has been focused on retail (rather than institutional) products and aligned with the Wealth Management operation. It is currently targeted primarily to structured settlements and immediate fixed annuities.

Distribution for the Manufactures Life Insurance Company (Manulife Financial) which demutualized in 1999 and became a wholly owned subsidiary of Manulife Financial Corporation, a publicly traded holding company, is through independent agents, career agents, broker dealers, wholesalers and financial institutions in 19 countries and territories.

Life Annuity Business: John Hancock offers Term, Whole, Universal, Variable, Long Term Care and Annuity policies.

The U.S. Wealth Management segment of the business offers group pension products (especially to small businesses) and variable and fixed annuities, mutual funds, 529 college savings plans, and managed accounts (to middle and upper income individuals). In the small employer market the company is a leader in providing 401(k) plans through third party administrators and broker-dealers. John Hancock’s variable annuity business is focused on financial planners, national wire houses, major producers, the John Hancock Financial Network of career agents and the Essex bank distribution system. The fixed annuity and structured settlements business has been focused on retail (rather than institutional) products and aligned with the Wealth Management operation. It is currently targeted primarily to structured settlements and immediate fixed annuities.

Distribution for the Manufactures Life Insurance Company (Manulife Financial) which demutualized in 1999 and became a wholly owned subsidiary of Manulife Financial Corporation, a publicly traded holding company, is through independent agents, career agents, broker dealers, wholesalers and financial institutions in 19 countries and territories.

Company Financial Status:
Ticker Symbol: MFC
Assets & Premiums: 2006 Assets: $221.2 Billion
2006 Premiums: $37 Billion
S&P rating: AAA
Moody's rating: Aa2
Fitch rating: AA+

Lines of Insurance:
Long Term Care, Life

States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

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