Description of Manulife Financial's Business Segments

Manulife Financial Corporation is a prominent global financial services provider that offers an extensive array of segments, products, and services tailored to meet diverse customer needs. Below is a detailed examination of its main segments and the corresponding products and services it provides.

1. Insurance
Manulifes insurance offerings encompass a comprehensive range of life, health, and travel insurance products designed to protect individuals and businesses against unforeseen events.

- Life Insurance:
- Term Life Insurance: Provides coverage for a specified term, typically ranging from 10 to 30 years, offering a death benefit to beneficiaries if the insured passes away during the term.
- Whole Life Insurance: Offers lifelong coverage with a cash value component that grows over time, providing both protection and a savings element.
- Universal Life Insurance: Combines flexible premiums with a cash value component, allowing policyholders to adjust their coverage and savings as their financial needs change.

- Health Insurance:
- Critical Illness Insurance: Provides a lump-sum payment if the insured is diagnosed with a specified critical illness, helping cover medical expenses or living costs during recovery.
- Disability Insurance: Offers income protection in the form of monthly benefits if the policyholder becomes unable to work due to a disability.
- Long-Term Care Insurance: Provides financial assistance for long-term care services, covering expenses related to assisted living or nursing home care.

- Travel Insurance: Comprehensive policies that cover emergency medical expenses, trip cancellations, interruptions, and lost baggage, ensuring peace of mind for travelers.

Wealth and Asset Management
Manulifes wealth and asset management division offers a robust portfolio of products and services to help individuals and institutional clients grow and manage their wealth.

- Mutual Funds: Diverse investment options covering various asset classes, allowing clients to invest in professionally managed portfolios.
- Segregated Funds: These are similar to mutual funds but include insurance benefits, such as a guarantee on the amount invested, protecting against market fluctuations.
- Exchange-Traded Funds (ETFs): A cost-effective investment option that tracks specific indices, providing clients with exposure to a broad array of assets.
- Annuities: Products that provide a steady income stream in retirement, helping clients manage their financial needs as they age.
- Investment Advisory Services: Tailored guidance for individuals and institutions, addressing investment strategies, risk management, and financial planning.

Retirement Solutions
Manulife is dedicated to helping individuals and businesses prepare for retirement through a range of tailored products and services.

- Group Retirement Plans: Employee benefit programs that help organizations provide retirement savings options for their workforce.
- Individual Retirement Accounts (IRAs): Tax-advantaged savings accounts designed to encourage long-term retirement savings.
- Retirement Income Annuities: Products that convert a lump-sum payment into a guaranteed income for life, addressing the challenge of outliving retirement savings.

Banking and Loans
Manulife Bank, a subsidiary of Manulife, provides various banking products designed to meet the everyday financial needs of customers.

- High-Interest Savings Accounts: Attractive savings options that offer competitive interest rates, enabling customers to grow their savings efficiently.
- Mortgages: Flexible mortgage solutions for homebuyers, including fixed and variable-rate options, as well as refinancing opportunities.
- Lines of Credit: Access to revolving credit with competitive interest rates, allowing clients to borrow on-demand as needed.

Corporate and Institutional
This segment serves a diverse range of business and institutional clients, providing services that support employee benefits and pension planning.

- Group Benefits: Comprehensive employee benefits packages covering health, dental, life, and disability insurance, tailored to workforce needs.
- Pension Plans: Designed to help employers provide retirement funding for employees, including defined benefit and defined contribution plans.
- Institutional Asset Management: Investment management services for large organizations, including pension funds and endowments, focused on aligning investment strategies with clients goals.
- Investment Banking Services: A suite of services geared toward corporate clients, including capital raising, advisory, and risk management solutions.

Manulife Securities
This segment focuses on providing investment products and services through a network of independent financial advisors.

- Advisory Services: Personalized investment strategies developed in collaboration with clients to suit their unique financial goals.
- Investment Products: Access to various investment vehicles, including stocks, bonds, and mutual funds, allowing clients to create diversified portfolios.

Manulife Financial Corporations diverse range of products and services is designed to accommodate the varying needs of individuals, families, businesses, and institutions. By providing comprehensive solutions across all segments, Manulife aims to empower customers to achieve their financial aspirations while ensuring their long-term security and stability.

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Annual Report on Manulife Financial Corporation Divisions, Sales by Country


Asia	29.31 %	of total Revenue
Canada	38.06 %	of total Revenue
U S	59.2 %	of total Revenue
Corporate and Other	-7.15 %	of total Revenue
Contracts under the fair value method	276.88 %	of total Revenue
Contracts under the fair value method Asia	43.04 %	of total Revenue
Contracts under the fair value method Canada	54.39 %	of total Revenue
Contracts under the fair value method U S	179.68 %	of total Revenue
Contracts under the fair value method Corporate and Other	-0.23 %	of total Revenue
Contracts under the full retrospective method	11.33 %	of total Revenue
Contracts under the full retrospective method Asia	8.01 %	of total Revenue
Contracts under the full retrospective method Canada	1.02 %	of total Revenue
Contracts under the full retrospective method U S	2.31 %	of total Revenue
Other contracts	147.15 %	of total Revenue
Other contracts Asia	44.06 %	of total Revenue
Other contracts Canada	96.79 %	of total Revenue
Other contracts U S	4.7 %	of total Revenue
Other contracts Corporate and Other	1.6 %	of total Revenue
Asia Canada U S and Corporate and Other	2.44 %	of total Revenue
Global WAM	121.79 %	of total Revenue
Real estate management services included in net investment income	5.19 %	of total Revenue
Real estate management services included in net investment income Asia Canada U S and Corporate and Other	5.19 %	of total Revenue
Other revenue	119.4 %	of total Revenue
Other revenue Asia Canada U S and Corporate and Other	-2.37 %	of total Revenue
Other revenue Global WAM	121.77 %	of total Revenue
Other revenue Investment management and other related fees	51.13 %	of total Revenue
Other revenue Investment management and other related fees Asia Canada U S and Corporate and Other	-8.01 %	of total Revenue
Other revenue Investment management and other related fees Global WAM	59.14 %	of total Revenue
Other revenue Transaction processing administration and service fees	52.49 %	of total Revenue
Other revenue Transaction processing administration and service fees Asia Canada U S and Corporate and Other	4.88 %	of total Revenue
Other revenue Transaction processing administration and service fees Global WAM	47.61 %	of total Revenue
Other revenue Distribution fees and other	15.78 %	of total Revenue
Other revenue Distribution fees and other Asia Canada U S and Corporate and Other	0.75 %	of total Revenue
Other revenue Distribution fees and other Global WAM	15.03 %	of total Revenue
Revenue from non-service lines	4.83 %	of total Revenue
Revenue from non-service lines Asia Canada U S and Corporate and Other	4.81 %	of total Revenue
Revenue from non-service lines Global WAM	0.02 %	of total Revenue
Other	-2.34 %	of total Revenue

Twelve months ended 2024
MFC s Annual Revenue by Geography and Business Segments	Sales (in millions $)	% (of total Sales)
Asia	1,371.14	29.31 %
Canada	1,780.95	38.06 %
U S	2,769.86	59.2 %
Corporate and Other	-334.74	-7.15 %
Contracts under the fair value method	12,954.59	276.88 %
Contracts under the fair value method Asia	2,013.81	43.04 %
Contracts under the fair value method Canada	2,544.65	54.39 %
Contracts under the fair value method U S	8,406.85	179.68 %
Contracts under the fair value method Corporate and Other	-10.72	-0.23 %
Contracts under the full retrospective method	530.07	11.33 %
Contracts under the full retrospective method Asia	374.57	8.01 %
Contracts under the full retrospective method Canada	47.49	1.02 %
Contracts under the full retrospective method U S	108.01	2.31 %
Other contracts	6,884.81	147.15 %
Other contracts Asia	2,061.31	44.06 %
Other contracts Canada	4,528.59	96.79 %
Other contracts U S	219.84	4.7 %
Other contracts Corporate and Other	75.07	1.6 %
Asia Canada U S and Corporate and Other	114.13	2.44 %
Global WAM	5,698.27	121.79 %
Real estate management services included in net investment income	242.82	5.19 %
Real estate management services included in net investment income Asia Canada U S and Corporate and Other	242.82	5.19 %
Other revenue	5,586.44	119.4 %
Other revenue Asia Canada U S and Corporate and Other	-111.07	-2.37 %
Other revenue Global WAM	5,697.51	121.77 %
Other revenue Investment management and other related fees	2,392.22	51.13 %
Other revenue Investment management and other related fees Asia Canada U S and Corporate and Other	-374.57	-8.01 %
Other revenue Investment management and other related fees Global WAM	2,766.79	59.14 %
Other revenue Transaction processing administration and service fees	2,455.80	52.49 %
Other revenue Transaction processing administration and service fees Asia Canada U S and Corporate and Other	228.27	4.88 %
Other revenue Transaction processing administration and service fees Global WAM	2,227.53	47.61 %
Other revenue Distribution fees and other	738.42	15.78 %
Other revenue Distribution fees and other Asia Canada U S and Corporate and Other	35.24	0.75 %
Other revenue Distribution fees and other Global WAM	703.19	15.03 %
Revenue from non-service lines	225.97	4.83 %
Revenue from non-service lines Asia Canada U S and Corporate and Other	225.20	4.81 %
Revenue from non-service lines Global WAM	0.77	0.02 %
Other	-109.54	-2.34 %
Total	4,678.73	100 %

Twelve months ended 2024
MFC s Annual Income by Country and Business Segments	Income (in millions $)	% (Profit Margin)
Total	4,502.55	96.23 %

Twelve months ended 2024
Annual Revenue and Income Growth by Country and Business Segments	% Y/Y Sales Growth	% Y/Y Income Growth
Asia	34.38 %	-
Canada	8.29 %	-
U S	11.64 %	-
Corporate and Other	-	-
Contracts under the fair value method	6.42 %	-
Contracts under the fair value method Asia	5.2 %	-
Contracts under the fair value method Canada	1.03 %	-
Contracts under the fair value method U S	8.42 %	-
Contracts under the fair value method Corporate and Other	-	-
Contracts under the full retrospective method	-5.34 %	-
Contracts under the full retrospective method Asia	-7.91 %	-
Contracts under the full retrospective method Canada	29.17 %	-
Contracts under the full retrospective method U S	-7.24 %	-
Other contracts	22.3 %	-
Other contracts Asia	32.82 %	-
Other contracts Canada	11.91 %	-
Other contracts U S	-	-
Other contracts Corporate and Other	-19.01 %	-
Asia Canada U S and Corporate and Other	302.7 %	-
Global WAM	10.88 %	-
Real estate management services included in net investment income	4.62 %	-
Real estate management services included in net investment income Asia Canada U S and Corporate and Other	4.62 %	-
Other revenue	10.22 %	-
Other revenue Asia Canada U S and Corporate and Other	-	-
Other revenue Global WAM	10.92 %	-
Other revenue Investment management and other related fees	8.21 %	-
Other revenue Investment management and other related fees Asia Canada U S and Corporate and Other	-	-
Other revenue Investment management and other related fees Global WAM	9.52 %	-
Other revenue Transaction processing administration and service fees	13.09 %	-
Other revenue Transaction processing administration and service fees Asia Canada U S and Corporate and Other	10.78 %	-
Other revenue Transaction processing administration and service fees Global WAM	13.33 %	-
Other revenue Distribution fees and other	7.59 %	-
Other revenue Distribution fees and other Asia Canada U S and Corporate and Other	-14.81 %	-
Other revenue Distribution fees and other Global WAM	9.03 %	-
Revenue from non-service lines	128.68 %	-
Revenue from non-service lines Asia Canada U S and Corporate and Other	133.33 %	-
Revenue from non-service lines Global WAM	-66.67 %	-
Other	-	-

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