#Canada #Toronto #Financial Services #Manulife #Global Minimum Taxes

Manulife Enhances Statistical Information Package

Manulife Financial Corporation has announced the release of a new template for its Statistical Information Package (SIP), aimed at presenting updated quarterly results for 2024. This revision is particularly focused on reflecting the implications of the upcoming Global Minimum Taxes (GMT), which are anticipated to take effect in various jurisdictions during the year 2025.

The updated SIP will improve year-over-year comparability of critical financial metrics, including core earnings, new business value, and post-tax contractual service margins. Manulife aims to enhance the transparency and understanding of its financial performance as it adapts to evolving regulatory environments.

Key Changes in the Updated SIP

The revised SIP aligns financial reporting with the expectations of the industry and regulatory bodies concerning GMT. As more local jurisdictions are expected to adopt these tax measures, Manulife emphasizes that it will recognize GMT in the reporting segments where applicable. This change is set to begin with the first-quarter results of 2025, which will be announced on May 7, 2025.

An accompanying summary detailing the changes to the SIP has also been made available. This will assist stakeholders, including investors and analysts, in grasping the updates effectively, ensuring they have the necessary tools to analyze the company's performance across different operating segments.

Manulife has clearly outlined its commitment to adapting to international trends in financial regulations and working towards making decision-making easier for its customers. By adhering to these new standards, Manulife aims to maintain its stature as a leading financial services provider.

About Manulife Financial Corporation

Based in Toronto, Canada, Manulife operates globally, offering services primarily under the Manulife brand in Canada, Asia, and Europe, and as John Hancock in the United States. The company provides a range of financial advice, insurance, and asset management services, ensuring that individuals, businesses, and groups receive comprehensive solutions tailored to their needs.

With approximately 37,000 employees and over 109,000 agents as of the end of 2024, Manulife serves more than 36 million customers worldwide. The firm is well renowned for its dedication to helping clients navigate their financial decisions and improve their quality of life through innovative solutions.

Manulife's shares are traded under the ticker symbol 'MFC' on the Toronto, New York, and Philippine stock exchanges and '945' in Hong Kong, reflecting its strong market presence. As the company continues to evolve, it remains committed to providing high-quality financial products and services that align with the changing landscape of global financial markets.

For additional information regarding the revised SIP template and the upcoming quarterly financial results, stakeholders are encouraged to visit the ‘2025 Q1 Results’ section on the company’s official investor relations website at manulife.com/en/investors/results-and-reports.

In conclusion, the updated SIP represents a significant move towards increasing financial clarity and enhancing the comparability of Manulife's financial metrics in a rapidly changing fiscal environment. As the firm prepares to implement these changes, stakeholders are optimistic about the potential for improved financial performance, transparency, and consistency in reporting moving forward.