- World Economic Forum(WEF) Global Risks Report 2019 highlights worsening international relations hindering action across a growing array of serious challenges
- Comments on Brexit vote impasse
- Allianz Risk Barometer highlights cyber and concerns around Brexit as as top risks in UK
- Willis Re's Summary of Natural Catastrophe Events 2018 report estimates insured losses from major natural catastrophes at around $71.5bn
- BIBA highlights opportunities for business in 2019 Manifesto
- UK Comprehensive car insurance prices fell by 6% in 2018 says Confused.com/ Willis Towers Watson analysis
- Insurance Europe concerned that the European Commission’s proposal for an ePrivacy Regulation could hamper insurers’ ability to offer innovative insurance policies to consumers expired
- ArgoGlobal collaborating with broker Axieme and digital platform Jobby in Italy to respond to a need for on-demand, pay-as-you-go insurance for temporary and short-term workers expired
- LV= General Insurance successfully deploys Guidewire Core and Data solutions in the largest transformation the business has ever undertaken expired
- Marsh announces that it had placed more than 10,000 risks in 2018 through Placing Platform Limited(PPL)-over 15,000 in total expired
- ZhongAn and Grab to establish joint venture company to enter the digital insurance distribution business in Southeast Asia expired
- Greenlight Capital Re becomes largest shareholder in Chicogo-based MGU AccuRisk expired
15th April 2018
Manulife releases 2017 Embedded Value Report and 4Q 2017 Statistical Information Package updated to reflect its new reporting segments
Manulife has released its 2017 Embedded Value Report and 4Q 2017 Statistical Information Package updated to reflect its new reporting segments effective 1st January.
Manulife’s 2017 Embedded Value Report details embedded value of $49.2bn as at 31st December, an increase of $2.8bn from 2016. The embedded value of $49.2bn, or $24.88 per share, reflects only a portion of the value of Manulife’s businesses, as it attributes no value to our new business franchise, and only tangible book value to our wealth and asset management businesses and Manulife Bank.
The updated 4Q 2017 supplemental disclosures reflect changes to Manulife’s primary reporting segments that became effective in 2018. As a result of the organisational changes made to increase focus and leverage scale in its global wealth and asset management businesses, the company’s wealth and asset management businesses are now a primary reporting segment, Global Wealth and Asset Management. The new reporting segments that will apply to our first quarter 2018 financial reporting are as follows:
-Global Wealth and Asset Management–providing fee-based wealth solutions with little or no guarantees to our retail, retirement and institutional customers around the world.
-Asia–providing insurance products and insurance-based wealth accumulation products in Asia.
-Canada–providing insurance products, insurance-based wealth accumulation products, and banking services in Canada.
-US–providing insurance products and administering in-force insurance-based wealth accumulation products in the US.
-Corporate and Other-comprised of investment performance on assets backing capital, net of amounts allocated to the operating segments; costs incurred by the corporate office related to shareholder activities(not allocated to the operating segments); financing costs; its Property and Casualty Reinsurance business; and run-off reinsurance business lines.
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