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John Hancock Life Insurance Company, U.S.A. is a
Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...
-based
insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...
company. Established April 21, 1862, it was named in honor of
John Hancock John Hancock ( – October 8, 1793) was an American Founding Fathers of the United States, Founding Father, merchant, statesman, and prominent Patriot (American Revolution), Patriot of the American Revolution. He was the longest-serving Presi ...
, a prominent American Patriot. In 2004, Canadian multinational life insurance company Manulife Financial acquired John Hancock and operates it as an independent subsidiary. The company and the majority of Manulife's U.S. assets continue to operate under the John Hancock name.


History

On April 21, 1862, the charter of the John Hancock Mutual Life Insurance Company was approved by John A. Andrew, governor of Massachusetts. There was not always a standardization for how the company name has been referenced. For example, a John Hancock advertisement from 1912 refers to the company as "John Hancock Mutual Life Insurance Company," but some John Hancock advertisements and newspaper articles from the 1930s refer to it as the "John Hancock Life Insurance Company." However, 1940s sources again refer to the company as the "John Hancock Mutual Life Insurance Company." In 1964, the company financed the construction of the John Hancock Center (now known as 875 Michigan Avenue) in
Chicago Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of Unite ...
, which was the second tallest building in the world upon completion in 1969. The company sold the naming rights in 2018. In 1972, Dr. Mary Ella Robertson was named as the first black woman and first female to serve on the John Hancock Board. In 2000, led by David D'Alessandro, 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 27, 2000, shares of Hancock stock started to trade on the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...
under the
symbol A symbol is a mark, Sign (semiotics), sign, or word that indicates, signifies, or is understood as representing an idea, physical object, object, or wikt:relationship, relationship. Symbols allow people to go beyond what is known or seen by cr ...
JHF. On September 29, 2003, Manulife Financial of Canada announced its intent to acquire John Hancock for $10.4 billion. The merged entity would be led by D'Alessandro, but he would step down in June 2004. The sale also included a Canadian subsidiary of John Hancock, Maritime Life; it was integrated into Manulife's Canadian operations.


Headquarters

The headquarters and its 1,100 employees are based in 200 Berkeley Street, sometimes known as the "Old John Hancock Building" and 197 Clarendon Street. John Hancock no longer has a presence in the Back Bay tower at 200 Clarendon Street, still known by many Bostonians as the Hancock Tower. The company was headquartered at 601 Congress Street in the
Seaport District The Seaport District, or simply Seaport, is a neighborhood in Boston, Massachusetts. It is part of the larger neighborhood of South Boston, and is also sometimes called the Innovation District. The Seaport is a formerly industrial area that ha ...
from 2005 to 2018, when it consolidated with offices it had retained in the
Back Bay Back Bay is an officially recognized Neighborhoods in Boston, neighborhood of Boston, Massachusetts, built on Land reclamation, reclaimed land in the Charles River basin. Construction began in 1859, as the demand for luxury housing exceeded the ...
.


Investor Sentiment Index

John Hancock created an index called the "John Hancock Investor Sentiment Index" in 2011. The company describes the index as a "quarterly measure of investors' views on a range of investment choices, life goals and economic outlook."


Leadership

In October 2017, Marianne Harrison became the first female president and chief executive officer of John Hancock. She earned a reported $4.4 million in compensation in 2017. On March 3, 2023, Brooks Tingle was named the new President and CEO, effective April 1, 2023, with Marianne Harrison retiring after 20 years with the company. Mr. Tingle announced his leadership plans for the company to enhance human longevity and health in Boston as a longevity hub.


See also

* John Hancock Bowl, a college football bowl game the company previously sponsored in El Paso, Texas * USS Hancock (CV-19), a WW2 Aircraft carrier named after the company raised enough war bonds


References


External links

* {{DEFAULTSORT:Hancock, John Manulife Financial Financial services companies established in 1862 Companies based in Boston Former mutual insurance companies American companies established in 1862 Life insurance companies of the United States 1862 establishments in Massachusetts 2000 initial public offerings 2004 mergers and acquisitions Companies formerly listed on the New York Stock Exchange American subsidiaries of foreign companies