Manulife Financial Corporation · TSX:MFC
Manulife Financial — Shareholder Meeting (May 2012)
43 slides from Manulife Financial's shareholder meeting presentation, May 3, 2012
Slide 1: Manulife Financial Corporation Annual Meeting
Manulife Financial Corporation The Manufacturers Life Insurance Company Annual Meeting May 3, 2012
Slide 2: Opening Remarks
Opening Remarks Gail Cook-Bennett Chair, Board of Directors Manulife Financial Corporation The Manufacturers Life Insurance Company
Slide 3: Platform Introductions
Platform Introductions Michael Bell Senior Executive Vice President and Chief Financial Officer Donald Guloien President and Chief Executive Officer J-P. Bisnaire Senior Executive Vice President, Corporate Development and General Counsel Angela Shaffer Vice President and Corporate Secretary
Slide 4: Manulife Financial Corporation Annual Meeting
Manulife Financial Corporation The Manufacturers Life Insurance Company Annual Meeting May 3, 2012
Slide 5: The Stars of Excellence
The Stars of Excellence This year’s honourees come from 10 countries and territories: China Taiwan Hong Kong The Philippines Indonesia Vietnam Japan United States of America Singapore Canada
Slide 6: Retiring Board Member
Retiring Board Member Linda Bammann Director Since: 2009 Manulife Financial Corporation The Manufacturers Life Insurance Company
Slide 7: Manulife Financial Corporation Annual Meeting
Manulife Financial Corporation The Manufacturers Life Insurance Company Annual Meeting May 3, 2012
Slide 8: Calling the Meeting to Order
Calling the Meeting to Order Manulife Financial Corporation The Manufacturers Life Insurance Company
Slide 9: Legal Disclaimer
Legal Disclaimer Caution Regarding Forward-looking Statements This presentation contains forward-looking statements within the meaning of the “safe harbour” provisions of Canadian provincial securities laws and the U.S. Private Securities Litigation Reform Act of 1995. The forward-looking statements
Slide 10: Note to Users
Note to Users Performance and Non-GAAP Measures We use a number of non-GAAP financial measures to measure overall performance and to assess each of our businesses. A financial measure is considered a non-GAAP measure for Canadian securities law purposes if it is presented other than in accordance wi
Slide 11: Notice of Meeting, Confirmation of Quorum and Voting Instructions
Notice of Meeting, Confirmation of Quorum and Voting Instructions Manulife Financial Corporation The Manufacturers Life Insurance Company
Slide 12: Election of Directors
Election of Directors Manulife Financial Corporation The Manufacturers Life Insurance Company
Slide 13: Election of Directors: Manulife Financial Corporation
Election of Directors Manulife Financial Corporation
Slide 14: Nominees for the Election of Directors of Manulife Financial Corporation
Nominees for the Election of Directors of Manulife Financial Corporation Joseph Caron Robert Harding John Cassaday Luther Helms Gail Cook-Bennett Tsun-yan Hsieh Thomas d’Aquino Donald Lindsay Richard DeWolfe Lorna Marsden Robert Dineen John Palmer Sheila Fraser Andrea Ros
Slide 15: Election of Directors: The Manufacturers Life Insurance Company
Election of Directors The Manufacturers Life Insurance Company
Slide 16: Nominees for Election of Policyholders' Directors
Nominees for Election of Policyholders’ Directors of The Manufacturers Life Insurance Company John Cassaday Thomas d’Aquino Richard DeWolfe Scott Hand Lorna Marsden Hugh Sloan
Slide 17: Election of Directors: The Manufacturers Life Insurance Company
Election of Directors The Manufacturers Life Insurance Company
Slide 18: Nominees for Election of Shareholder's Directors
Nominees for Election of Shareholder’s Directors of The Manufacturers Life Insurance Company Joseph Caron Luther Helms Gail Cook-Bennett Tsun-yan Hsieh Robert Dineen Donald Lindsay Sheila Fraser John Palmer Donald Guloien Andrea Rosen Robert Harding
Slide 19: Appointment of the Auditors
Appointment of the Auditors Manulife Financial Corporation The Manufacturers Life Insurance Company
Slide 20: Proposed Auditor Appointee
Proposed Auditor Appointee Ernst & Young LLP, Chartered Accountants
Slide 21: Shareholders' Approval of Advisory Resolution on Executive Compensation
Manulife Financial Corporation Shareholders’ Approval of Advisory Resolution Accepting Approach to Executive Compensation Manulife Financial Corporation
Slide 22: Tabling of 2011 Consolidated Financial Statements and Reports
Tabling of 2011 Consolidated Financial Statements and Reports of the Auditor and Actuary Thereon Manulife Financial Corporation The Manufacturers Life Insurance Company
Slide 23: Tabling of 2011 Information for Participating Policyholders
Tabling of 2011 Information for Participating Policyholders as set out in the 2011 Report to Policyholders The Manufacturers Life Insurance Company
Slide 24: Presentation by the Chief Financial Officer
Presentation by the Chief Financial Officer Michael W. Bell Senior Executive Vice President & Chief Financial Officer May 3, 2012
Slide 25: Overview
Overview Progress on Strategic Priorities 2011 Financial and Operating Results 2012 First Quarter Results 25
Slide 26: Progress on Strategic Priorities
Progress on Strategic Priorities Leveraged our strong market position and brand to 9 drive profitable growth Managed risk by significantly reducing equity and 9 interest rate sensitivity 9 Maintained strong capital levels and the financial strength which supports our strong brands Shifted our
Slide 27: 2011 Financial and Operating Results
2011 Financial and Operating Results Net income attributable to shareholders of $129 million in 2011: Significant improvement relative to net loss of $1,663 million in 2010 2011 earnings included the unfavorable impacts of: Changes in interest rates and equity markets (including volatility)
Slide 28: Asia – Growing High Return Insurance and Wealth Management Businesses
Asia – Growing High Return Insurance and Wealth Management Businesses Sales1 Growth Record C$1.2 billion in insurance sales – more than half of Manulife’s total Japan China Insurance sales increased 13%2 Targeted wealth sales increased 17% Taiwan Hong Kong Macau Earnings Vietnam Philippines
Slide 29: Canada – Executing a Broad-based, Diversified Financial Services Strategy
Canada – Executing a Broad-based, Diversified Financial Services Strategy Sales1 Growth Individual wealth targeted for growth sales up 8% Record mutual fund deposits of $2 billion – the second fast growing firm of the top ten2 Manulife Bank continued profitable growth achieving a record $20 bi
Slide 30: U.S. – Continuing Focus on Balanced New Business Sales Mix
U.S. – Continuing Focus on Balanced New Business Sales Mix Sales1 Growth Leveraging strong brand, market position and distribution capabilities JH Mutual Funds delivered record sales of US$12.5 billion, up 29%2 Sales of targeted insurance products increased 28% with the continued product repos
Slide 31: Ahead of Our Timeline for Equity Risk Reduction
Ahead of Our Timeline for Equity Risk Reduction Earnings Sensitivity to Equity Markets1 (C$ millions) 60% - 70% of underlying earnings sensitivity to equity market changes hedged as at December 31, 2011: Achieved our goal to hedge 60% by the end of 2012 At 93% of our goal to hedge 75% by the e
Slide 32: Exceeded our 2014 Goal for Interest Rate Risk Reduction
Exceeded our 2014 Goal for Interest Rate Risk Reduction Earnings Sensitivity to Interest Rates1 (C$ millions) 2 Exceeded our 2014 goal for reducing interest rate sensitivity to $1.1 billion excluding AFS bond offset, as at December 31, 2011 1 Earnings sensitivity to interest rates is defined by th
Slide 33: Solid First Quarter 2012 Results
Solid First Quarter 2012 Results Net income attributable to shareholders of $1.2 billion Strong insurance sales1 growth: Record insurance sales, up 35% vs. 1Q11 Record insurance sales in Asia Wealth sales impacted by challenging market environment, down 8% from 1Q11 Expecting notable cha
Slide 34: Manulife Is Strong
Manulife Is Strong MLI’s MCCSR at 225% as at 1Q12 even without explicit credit for our expanded hedging programs Significantly reduced earnings and capital sensitivity to equity market and interest rate changes – stronger position to withstand market shocks MLI’s capital position supports our
Slide 35: Summary
Summary Excellent progress in 2011 towards strategic priorities Significantly improved 2011 results in a challenging environment Strong start for 2012 35
Slide 36: Manulife Financial Corporation Annual Meeting
Manulife Financial Corporation The Manufacturers Life Insurance Company Annual Meeting May 3, 2012
Slide 37: President & Chief Executive Officer Address
President & Chief Executive Officer Address Donald A. Guloien, President & CEO, Manulife Financial May 3, 2012
Slide 38: Manulife Financial Corporation Annual Meeting
Manulife Financial Corporation The Manufacturers Life Insurance Company Annual Meeting May 3, 2012
Slide 39: Voting Results
Voting Results Manulife Financial Corporation The Manufacturers Life Insurance Company
Slide 40: Conclusion of Meeting
Conclusion of Meeting Manulife Financial Corporation The Manufacturers Life Insurance Company
Slide 41: Question and Answer Period
Question and Answer Period Manulife Financial Corporation The Manufacturers Life Insurance Company
Slide 42: Manulife Financial Corporation Annual Meeting
Manulife Financial Corporation The Manufacturers Life Insurance Company Annual Meeting May 3, 2012
Slide 43: Annual Meeting will resume shortly
Annual Meeting will resume shortly Manulife Financial Corporation The Manufacturers Life Insurance Company