Manulife Financial Corporation · TSX:MFC
Manulife Financial — Investor Day (June 2024)
20 slides from Manulife Financial's investor day presentation, Jun 25, 2024
Slide 1: Our Innovative Approach to a Unique Opportunity
Our Innovative Approach to a Unique Opportunity Investor Day 2024: Global High-Net-Worth Jean Wong CEO, Global High-Net-Worth June 25, 2024
Slide 2: An innovative and first-in-class, unified Global High-Net-Worth model
An innovative and first-in-class, unified Global High-Net-Worth model 2
Slide 3: Looking back: Top takeaways
• Unique business that caters to a global Looking back: HNW customer segment Top takeaways • Serves customers through the international brokerage channel and lead with an innovation first mindset • Market leader in an attractive global market, with positive long-term macrotrends • Excellent track re
Slide 4: A unique business that caters to a global customer segment
A unique business Customer segment Capacity to underwrite customers in that caters to a global customer segment HNW & UHNW 150 countries Our global team size Market share1 (International brokerage channel) Bermuda Hong Kong Singapore 70+ # 1 NBV margin Average sum insured Manulife Global HNW was for
Slide 5: A business model that delivers value through innovation and partnership
We work closely with distribution partners, and create solutions A business model that that meet the needs of our customers delivers value through innovation and Customer seeks The wealth planner / partnership financial planning solutions and assess private banker evaluates the their needs with a cl
Slide 6: Manulife GHNW's unified identity has become a key competitive differentiator
Manulife GHNW’s unified identity has become a key competitive differentiator APE sales NBV NBV margin US$309M US$239M 77% APE growth1 NBV growth1 % of Asia Segment NBV ↑33% ↑29% 20% 6 Note: All figures and changes on this slide reflect 2023 results for the GHNW business. All footnotes are on slide 1
Slide 7: Global HNW has a strong foundation for growth and a solid right to win
Global HNW has a strong foundation for growth and a solid right to win Distribution Product Underwriting Leading distributor NPS1 #1 market share 2 $65M automatic capacity Global distribution scale with tailored strategies for A truly global HNW solution portfolio providing Expertise with older-age
Slide 8: A focused vision leveraging the unique opportunity set
A focused vision leveraging the unique opportunity set 8
Slide 9: Looking ahead: Top takeaways
• Remain well positioned to capture key Looking ahead: opportunities Top takeaways • Unique footprint and deep understanding of the HNW & UHNW market • A clear ambition to scale and grow the business • GHNW priorities support the Asia segment and enterprise ambitions • Identified opportunities to ad
Slide 10: Remain uniquely positioned to capture the growing HNW customer opportunity
Remain uniquely ~US$80 trillion in wealth held by Millionaire population growth positioned to capture the our target customer segment1 rate forecast (%, 2022 – 20272) growing HNW customer opportunity South Asia 107% Our target customer Ultra-HNWI Mainland China 100% • Global wealth is expected to ri
Slide 11: We have set ambitious aspirations that support Asia segment and enterprise goals
We have set ambitious aspirations that support Asia segment and enterprise goals 15%+ NBV CAGR 2023 - 2027 NBV (US$ millions) ~20 - 30 425+ ~50 - 60 ~90 - 100 Increase APE sales and support Asia region’s ambition to drive >50% of enterprise earnings by 2027 239 Provide sustainable high margin growth
Slide 12: Expand our reach: Develop new geographies and target markets
Expand our reach: Increase contribution of Middle East sales to GHNW APE sales Develop new geographies and target markets 2x Expand our business to new geographies Expand to new geographies, especially in the Middle East and South Asia, capturing existing growth tailwinds in the target regions Penet
Slide 13: Maximize distribution: Focused on growing with our distributors
Maximize distribution: Increase number of distributors with over US$10M annual APE sales Focused on growing with our distributors 2x Develop deeper relationships Elevate sales in the International Brokerage channel by driving global distribution relationships and global adoption of GHNW products Cro
Slide 14: Scale our business: Drive consistency as the global model reaches scale
Scale our business: Distributor NPS 2027 aspiration Drive consistency as the global model reaches scale Maintain top Global high-touch service model quartile NPS Drive sales and carefully manage risk, while providing tailored services to HNW and UHNW individuals Increase case submission volume 1.75
Slide 15: Summary
• Play in an attractive global market, with positive long-term macrotrends Summary • Unique business that caters to a global customer segment, spanning across geographies • Net additive and a great fit to our Asia portfolio • Innovative business model with excellent track record, well positioned for
Slide 16: Raising the Bar
‘'' Manulife Raising the Bar
Slide 17: Appendix
Appendix • Footnotes • Caution regarding forward-looking statements • Non-GAAP and other financial measures 17
Slide 18: Footnotes
Footnotes Slide Footnote 4 1 Source: Manulife analysis. 1 Percentage changes in annualized premium equivalent (“APE”) sales and new business value (“NBV”) stated on a constant exchange rate basis are other specified financial 6 measures. 1 IPG Broker NPS Survey, 2023. 7 2 Source: Manulife analysis.
Slide 19: Caution regarding forward-looking statements
Caution regarding Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially counterparties to meet their obligations; the availability, affordability and adequacy of reinsurance; legal and regulatory proceedings, from those expr
Slide 20: Non-GAAP and other financial measures
Non-GAAP and other financial measures From time to Manulife prepares its Consolidated Financial Statements in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board. We use a number of non-GAAP and other financial measures to ev