Life & Health Insurance M&A » By The Online Investor Staff, updated Tue., Aug. 9, 4:09 AM
Recent mergers and acquisitions in the Life & Health Insurance M&A category.
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Slide #47. Manulife Financial — Wellington West Financial Services
Acquirer:
Manulife Financial (NYSE:MFC)
Acquiree:
Wellington West Financial Services
Details:
Manulife Financial today announced that it has completed its previously announced acquisition of independent financial planning firm Wellington West Financial Services Inc., a division of Wellington West Holdings Inc., and a dealership registered with the Mutual Funds Dealers Association (MFDA), from National Bank. The completed acquisition adds 39 financial advisors and approximately $900 million in assets under administration to Manulife Financial's Canadian dealer, Manulife Securities, to create a team of over 1,250 independent advisors with $21 billion in assets under administration.
Manulife Financial is a holding company. Through its subsidiaries, Co. is a life insurance company. Co.'s four operating segments are: Asia, which includes a range of health, protection, savings, medical, term and whole life products; Canada, which provides life, health, disability and specialty products, such as mortgage creditor and travel insurance; U.S., which provides a range of life insurance products, insurance-based wealth accumulation products, and has an in-force long-term care insurance business and an in-force annuity business; and Global Wealth and Asset Management, which provides investment advice and solutions to retirement, retail and institutional clients.
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Hold (2.50 out of 4) 80th percentile
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