BOSTON, Sept. 21, 2016 /PRNewswire/ -- The Board of Directors of the John Hancock Life Insurance Company (U.S.A.) elected Linda A. Watters a director at its board meeting today. Ms. Watters has served since 2009 as John Hancock's Vice President, Government Relations, where she is responsible for state legislative and regulatory relations as well as John Hancock's relationship with the National Association of Insurance Commissioners (NAIC), and she will continue in that role. John Hancock is the U.S. division of Manulife Financial of Toronto.
"Linda brings extensive state, national and international regulatory leadership experience to our board, and we are delighted to welcome her," said James D. Gallagher, Executive Vice President, General Counsel & Chief Administrative Officer of John Hancock. "Since joining our company, Linda has built our state government regulatory and legislative affairs platform, become a strategic partner on our executive leadership team, and has reported regularly to John Hancock and Manulife boards on legislative and regulatory issues. She also has coordinated with Manulife on international regulatory affairs in six Asian nations."
Before joining John Hancock, Ms. Watters was a Managing Director, Financial Risk Management, with KPMG LLP in Chicago. From 2003 to 2007, she served as Commissioner, the Office of Financial and Insurance Services, for the State of Michigan. Ms. Watters was appointed to the post by Michigan Governor Jennifer Granholm and unanimously confirmed by the Michigan State Senate. During her tenure, Michigan fully implemented coordination of the regulation of the insurance, banking and securities industries. Ms. Watters also was the founder, President and Chief Executive Officer of Detroit Commerce Bank from 1998 to 2003. Prior to that, she held positions with commercial banks in the Midwest and with General Motors Corporation.
In 2014, Ms. Watters was appointed by Massachusetts Gov. Deval Patrick to the Successful Women, Successful Families Task Force, part of the state's Women in the Workforce initiative. She also serves on the board of the U.S. National Archives Foundation (finance and governance committees). Her professional and volunteer service has included board directorships and membership in insurance, community health, business, education, women's, and urban/minority advocacy organizations.
She is a current board director of the John Hancock Trust Company, and a past board director of Detroit Commerce Bank and of publicly traded United American Healthcare Corporation, where she served on the finance and audit committees.
Ms. Watters earned her MBA from the University of Dayton and BA in Business Administration/Economics from Bowling Green State University. She was awarded a Leadership in the 21st Century certificate from Harvard University's Kennedy School of Government executive education program. She also holds an Advanced Professional Director Certification from the American College of Corporate Directors.
About John Hancock Life Insurance Company (U.S.A.)
John Hancock Life Insurance Company (U.S.A.) ("JHUSA" or the "Company") is a wholly-owned subsidiary of The Manufacturers Investment Corporation ("MIC"). MIC is a wholly-owned subsidiary of John Hancock Financial Corporation ("JHFC"), which is an indirect, wholly-owned subsidiary of The Manufacturers Life Insurance Company ("MLI"). MLI, in turn, is a wholly-owned subsidiary of Manulife Financial Corporation ("MFC"), a Canadian-based, publicly traded financial services holding company.
The Company provides a wide range of financial protection and wealth management products and services to both individual and institutional customers located primarily in the United States. Through its insurance operations, the Company offers a variety of individual life insurance and individual long-term care insurance products that are distributed through multiple distribution channels, including insurance agents, brokers, banks, financial planners, and direct marketing. The Company also offers mutual fund products and services which include a variety of retirement products to retirement plans. The Company distributes these products through multiple distribution channels, including insurance agents and affiliated brokers, securities brokerage firms, financial planners, pension plan sponsors, pension plan consultants, and banks. In 2013, the Company discontinued sales of its structured settlements and single premium immediate annuity products. The Company is licensed to sell insurance in 49 states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands.
John Hancock Distributors LLC ("JHD"), a registered broker-dealer and a wholly-owned subsidiary of the Company, acts as the principal underwriter of variable life contracts and other products issued pursuant to a distribution agreement with the Company.
The Company has two wholly-owned life insurance subsidiaries, John Hancock Life Insurance Company of New York ("JHNY") and John Hancock Life & Health Insurance Company ("JHLH").
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Assets under management and administration by Manulife and its subsidiaries were $934 billion (US $718 billion) as at June 30, 2016. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
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SOURCE John Hancock Financial