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As part of the re-branding, The
Manufacturers Life Insurance Company (U.S.A.) (Manulife USA), the
issuing company for Venture Variable Annuity products in the United
States, changed its name to John Hancock Life Insurance Company
(U.S.A.) (John Hancock USA), effective Jan. 1.
"The John Hancock brand is one of the
most recognized in American households, with 95 percent awareness
among consumers," said James R. Boyle, president, John Hancock
Annuities. A study by Plan-it-Marketing found that brand is, by far,
the most important criterion in choosing a company from which to buy
an annuity, accounting for 34 percent of the purchase decision.
Financial strength, the second most important factor, accounts for
19 percent. "Financial advisers now have the best of both worlds --
a trusted and recognized brand to offer clients and the distinctive
annuities, award-winning service and solid financial strength they
have come to expect from Manulife USA," which has consistently
ranked among the highest in financial strength as judged by major
rating agencies, such as A.M. Best, Fitch, Moody's and Standard &
Poor's.
"We will continue our reputation in
wholesaling excellence," says Robert Cassato, executive vice
president of Manulife Financial Corporation and president of Wood
Logan (formerly known as Manulife Wood Logan), which provides sales
and marketing support for individual wealth management products.
"The new name will build upon our competitive advantages. It will
help us continue record sales growth of our highly successful
Venture Variable Annuities with the guaranteed income rider, called
Principal Plus."
Venture Variable Annuity sales rose
47 percent in the first three quarters of 2004 versus the same time
period the prior year, which contributed to the company's improved
position in the non-proprietary market from No. 7 to No. 4.
In 2005, as a result of the Manulife
Financial-John Hancock merger, financial advisers will continue to
have access to a wider array of insurance and investment products.
Through its insurance subsidiaries, the combined group of companies
is now the second largest life insurance company in North America
and fourth largest in the world.
More information can be found on the
Internet at
www.johnhancockannuities.com.
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About Manulife Financial and John
Hancock
Manulife Financial is a leading Canadian-based financial services
group, serving millions of customers in 19 countries and territories
worldwide. Operating as Manulife Financial in Canada and most of
Asia, and primarily through John Hancock in the United States, the
company 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 U.S. $274
billion (Canadian $346 billion) as of Sept. 30, 2004.
Manulife Financial Corporation trades as "MFC" on the TSX, NYSE
and PSE, and under "0945" on the SEHK. Manulife Financial can be
found on the Internet at
www.manulife.com.
John Hancock Financial Services Inc. was acquired by Manulife
Financial Corporation on April 28, 2004, and is one of the largest
life insurance companies in the United States. Founded in 1862, John
Hancock today offers a broad range of financial products and
services, including whole life, term life, variable life and
universal life insurance, as well as college savings products, fixed
and variable annuities, long-term care insurance, mutual funds, and
various forms of business insurance.
Contact your financial consultant or visit
www.johnhancockannuities.com for more information, including a
prospectus that contains complete details on investment objectives,
risks, fees, charges and expenses as well as other information about
the investment company, which should be carefully considered. Please
read the prospectus carefully prior to investing. The prospectus
contains this and other information on the product and the
underlying portfolios.
Guarantees are backed by the claims-paying ability of the issuer.
Venture Annuities and the optional riders are not available in all
states; product features may vary, subject to state regulation.
Annuities are long-term contracts designed for retirement purposes.
Venture Annuities are issued and administered by John Hancock
Life Insurance Company (U.S.A.), a Bloomfield Hills, Mich., company
with its annuity service office in Boston, Mass. Venture Combination
Fixed and Variable Annuities are distributed by John Hancock
Distributors LLC.
Annuities are not deposits or obligations of, or guaranteed by,
any bank or financial institution. Annuities are not insured by the
FDIC or any other agency and are subject to investment risks,
including the possible loss of principal.
[News release] |
