Manulife Financial has released a public accountability statement to explain how the insurer and its subsidiary John Hancock contributed to the economic, environmental and social well-being of customers, employees, and communities in 2015.
The statement, which was released on May 10, points out that the company has had a significant economic effect both in Canada and abroad. Last year, the insurer paid out $24.6 billion in claims, cash surrenders, annuity payments, and other benefits to customers. In 2015, Manulife also invested or loaned $8.8 billion to businesses, paid $1.8 billion in taxes, and generated $1.4 billion in dividends for its shareholders.
Renewable energy industry
Manulife’s statement emphasizes that it is a leader in arranging and providing debt financing for Canada's renewable energy industry; its team of industry specialists have invested $9.4 billion in renewable energy and energy efficiency projects since 2002. Over the last five years, the company has also managed to reduce the intensity of greenhouse gas emissions in its real estate portfolio by 21%.
As for community work, over the course of 2015 Manulife employees, and agents volunteered 81,853 hours and the company donated $38.4 million to various charities and other non-profit organizations.