Insurer showing its public accountability

As one insurer released its first quarter numbers, the inclusion of its public accountability statement is a strong indicator of the importance of social responsibility for companies and corporations today.

Environmental

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As one insurer released its first quarter numbers, the inclusion of its public accountability statement is a strong indicator of the importance of social responsibility for companies and corporations today.

Manulife Financial released its Q1 financial statements yesterday, reporting a net income of $818 million and core earnings of $719 million. But looking beyond the numbers, the insurer also released its 2013 Public Accountability Statement, providing a broader context to Manulife's operations and highlighting some of the ways in which it supports the economic, environmental and social well-being of customers, employees and communities where it operates.

“We believe that our greatest contribution to society comes from our products and services, which help people with their big financial decisions, provide more certainty in highly uncertain times and help them plan for the future,” says Donald Guloien, president and CEO of Manulife. “Excellence in how we manage our operations, design and deliver our products and services, and contribute to our communities is equally important."

Other highlights from 2013
- 88,751 hours volunteered with local charities by employees and agents;
- 17 per cent reduction in greenhouse gas emissions intensity since 2009; and
- $5.9 billion in loans and investments made to businesses to fuel their growth.

Manulife, its employees and its programs contributed $25.2 million to more than 1,000 community organizations around the world, focusing on health and wellness and the empowerment of communities.

It also financed nearly $1 billion of renewable energy and energy efficiency projects in 2013 alone. (continued.)
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Manulife's products and services and its operations contributed to economies worldwide. With more than 20 million customers around the world, the company paid out claims, cash surrender values, annuity payments and other benefits worth $19 billion in 2013.

Pleased with the commitment to these social endeavours, Guloien was also happy with the bottom line for the start of 2014.

“We are pleased with our solid start to 2014, which demonstrates measurable progress against our longer-term objectives,” said Guloien. “We delivered strong core earnings, most notably in Asia, net income, wealth sales, and a very healthy capital ratio, as well as another quarter of record funds under management.”

Mr. Guloien added, “We have increased our momentum in life insurance sales in Asia and Canada. While insurance sales in the U.S. were below expectations in the first quarter, we recently introduced product enhancements and more competitive pricing which we expect to improve sales.”

 

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