John Hancock Leads Industry in Survivorship Life Insurance Sales in 2009
- Pioneer Of Survivorship Products Posts $147M In Sales
- Company Also Leads Industry With Variable Life Insurance Sales Of $137M
BOSTON, April 7 /PRNewswire-FirstCall/ -- John Hancock Life Insurance led the industry in total survivorship life insurance sales in 2009, according to a recent survey of 79 major life insurers by LIMRA International (LIMRA).
With survivorship sales of $147.9 million in premium* in 2009, John Hancock maintained its number one ranking and also increased its industry-leading market share to almost 20 percent, according to LIMRA's survey.
"As a pioneer in the survivorship life insurance market, we are extremely pleased to lead the industry in survivorship life insurance sales for the second consecutive year," said Steve Finch, President, John Hancock Life Insurance. "Despite the ongoing economic challenges in 2009, our innovative survivorship life portfolio, backed by the financial strength of our company, provided clients with a valuable and cost-effective tool designed to meet their estate planning needs. We remain committed to offering advisors and clients the best possible products and services and look forward to maintaining our leadership role in the survivorship life marketplace."
John Hancock also led the industry in variable life (including variable universal life), with sales of approximately $137.9 million*, according to LIMRA.
"Although last year was a particularly challenging time for variable life, John Hancock's strong finish demonstrated our ability to offer clients products that are designed with features and benefits tailored to meet their long-term needs, even when the markets are volatile," Mr. Finch said.
Mr. Finch said the company continues to further strengthen its product portfolio, service capabilities and underwriting expertise to provide even greater value for clients and producers.
"Our clients and their advisors have many options for meeting their financial objectives," Mr. Finch said. "We always appreciate and value their business and the trust and confidence they have placed in John Hancock."
*Annualized premium plus 10% of excess premium for US individual life insurance as reported to LIMRA
About John Hancock Financial and Manulife Financial Corporation
John Hancock Financial is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, Manulife Financial Corporation offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were $440 billion (US$420 billion) as at December 31, 2009.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at www.johnhancock.com.
SOURCE John Hancock Life Insurance
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