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 A patriot is a person with the quality of patriotism. Patriot(s) or The Patriot(s) may also refer to: Political and military groups United States * Patriot (American Revolution), those who supported the cause of independence in the American R ...

. In 2004, Canadian multinational life insurance company

Manulife Financial Manulife Financial Corporation ( French: Financière Manuvie) is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario. The company operates in Canada and Asia as "Manulife" and in the Unite ...

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 John Albion Andrew (May 31, 1818 – October 30, 1867) was an American lawyer and politician from Massachusetts. He was elected in 1860 as the 25th Governor of Massachusetts, serving between 1861 and 1866, and led the state's contributions to ...

, 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 875 North Michigan Avenue (officially known until 2018 as the John Hancock Center and still commonly referred to under that name) is a 100- story, supertall skyscraper located in Chicago, Illinois. Located in the Magnificent Mile district, the ...

(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 This is a list of the tallest buildings. Tall buildings, such as skyscrapers, are intended here as enclosed structures with continuously occupiable floors and a height of at least . Such definition excludes non-building structures, such as tow ...

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,

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 The Maritime Life Assurance Company was a Canadian insurance company based in Halifax, Nova Scotia, Canada. It was founded in 1922 and in 2004 it became fully integrated with Manulife Financial, with the Maritime Life brand being retired. In 20 ...

; 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 The John Hancock Tower, colloquially known as the Hancock, is a 60-story, skyscraper in the Back Bay neighborhood of downtown Boston, Massachusetts. The pinnacle height (including antennas) is . Designed by Henry N. Cobb of the firm I. M. ...

, 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.

References

External links