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Encyclopedia > John Hancock Insurance

John Hancock Insurance is a loose term for a major United States insurance company which existed, in various forms, from its founding on April 21, 1862 until its acquisition in 2004 by the Canadian Manulife Financial Corporation.


John Hancock was known for its colossal landmark buildings in Chicago and Boston.


Timeline of corporate name and structure changes

  • April 21, 1862, the charter of the John Hancock Mutual Life Insurance Company was approved by John A. Andrew, governor of Massachusetts.
  • John Hancock advertisements and newspaper articles from the 1930s refer to it as the "John Hancock Life Insurance Company."
  • 1940s source refer to it as the "John Hancock Mutual Life Insurance Company"
  • A July 2nd, 1998 Boston Herald story, John Hancock Mutual Life Insurance Co chairman, is quoted: "We have always said quite clearly that we are not for sale," [Stephen L.] Brown said, moving to kill speculation about possible deals with BankBoston or Fleet Financial Group. "There are simply no merger talks going on."
  • In 2000, the company "demutualized", meaning that "John Hancock Mutual Life Insurance Company" formally ceased to exist, and a new company named "John Hancock Financial Services Inc." came into existence. Policyholders received shares in the new company in exchange for giving up ownership in the old. Life insurance continued to be sold by an entity known as the "John Hancock Variable Life Insurance Company," a subsidiary of John Hancock Financial Services Inc. On January 27th, 2000, shares of Hancock stock started to trade on the New York Stock Exchange under the symbol JHF.
  • On September 29, 2003, it was announced that Manulife Financial Corp. was purchasing John Hancock Financial Services Inc. for $10.4 billion.
  • On April 29, 2004, the existence of John Hancock Financial Services, Inc. formally ended.

External links

  • John Hancock company history timeline (http://www.johnhancock.com/company/history/timeline/main.html)

  Results from FactBites:
 
John Hancock - Wikipedia, the free encyclopedia (1103 words)
Hancock's skills as orator and moderator were much admired, but during the American Revolution he was most often sought out for his ability to raise funds and supplies for American troops.
Hancock was prevalent in the formation of a navy for the new nation.
John Hancock was among those who signed the attestation that Phillis Wheatley, an African American, was its author.
  More results at FactBites »

 
 

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