Filed Under:Health Insurance, Ltci

Hancock LTCI unit holds steady

John Hancock LTCI sales and revenue were flat.
John Hancock LTCI sales and revenue were flat.

Manulife Financial Corp. gave little attention to its U.S. long-term care insurance (LTCI) business today as it reviewed its latest earnings.

Manulife (TSX:MFC), the parent of John Hancock, reports results for the company as a whole in Canadian dollars. The company earned $977 million in net income in Canadian currency for the second quarter on $4.2 billion in revenue, up from $308 million in net income on $4.2 billion in revenue for the comparable quarter in 2013.

The U.S. LTCI business -- which reports its results in U.S. dollars -- produced $13 million in new LTCI sales and $549 million in premiums and deposits. That compares with $13 million in LTCI sales and $547 million in premiums and deposits for the second quarter of 2013.

The company is not breaking out other LTCI unit performance indicators.

In a conference call with securities analysts, the company focused mainly on growth in wealth and asset management businesses, efforts to expand in Asia, and a decision by its board to increase its quarterly dividend 19 percent, to 15.5 Canadian cents per share.

A slide deck showed U.S. insurance sales making up just a small portion of the company's total insurance sales for the quarter.

See also: Hancock LTCI sales jump


The top producers of the life insurance industry will be gathering in Las Vegas on August 13-15 for networking, education and more! Click here to sign up!‚Äč

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting


Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.