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Canada's Manulife plays down John Hancock spinoff talk

Reuters  |  TORONTO 

By Matt ScuffhamTORONTO (Reuters) - Manulife Financial Corp , Canada's biggest life insurer, on Thursday played down reports that it is exploring an initial public offering of U.S. unit John Hancock."It's all market rumor and speculation as far as I'm concerned," Chief Financial Officer Steve Roder said in an interview.The Wall Street Journal reported in July that Manulife was under pressure from some shareholders to make the move after years of disappointing results at the unit. [nL4N1K44ZJ]Manulife acquired John Hancock for C$15 billion in 2004 in a deal that doubled the size of the ...

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First Published: Thu, August 10 2017. 20:20 IST