June 24, 2003 |
John Hancock Financial Services Inc. said it agreed to sell its group life insurance operations to MetLife Inc. as it concentrates on its main businesses. Boston-based Hancock has been moving to divest itself of its non-core operations for the last several years. It has been focusing on businesses such as individual life insurance, long-term care insurance, annuities and structured financial products and institutional investment management. The deal is expected to close this year.
November 1, 2002 |
John Hancock Financial Services Inc.'s third-quarter earnings fell 4% as the stock market slump cut into sales of annuities and fees for managing assets. Net income was $158.1 million, or 54 cents a share, compared with $165.2 million, or 54 cents, in the year-ago period as the firm bought back shares. Earnings excluding investment losses were 64 cents, a penny below analyst estimates. Shares of Hancock, which announced its earnings after the close of trading, gained 34 cents to $29.
February 16, 2000 |
The initial public offering market has been welcoming many Internet and biotech stocks with open arms, but several IPOs are just feeling squeezed. Among Tuesday's victims: * John Hancock Financial Services (JHF) shares slid further below their recent offering price, dropping $2 to $14 on the New York Stock Exchange. The insurer's stock, which went public Jan. 27 at $17, has dropped more than 20% in the last two sessions. Analysts said underwriter Morgan Stanley Dean Witter & Co.
January 22, 2000 |
John Hancock Financial Services (JHF), the nation's second-largest life insurer, leads U.S. initial public offers next week with a $1.7-billion stock sale, the biggest of about 20 deals on tap as the IPO market gets going after its traditional January break. Still, Internet companies a fraction of Hancock's size are expected to capture the spotlight.
June 4, 1993
The Los Angeles Times has been named a winner of the 1992 John Hancock Financial Services Awards for Excellence in Business and Financial Journalism. The award for newspapers with circulation above 300,000 went to Scot Paltrow of the Los Angeles Times Business staff for his investigative series, "Investors at Risk." The series documented widespread fraud against small investors by brokerage firms.
January 11, 1993 |
John Hancock Lays Off 700: John Hancock Financial Services laid off 700 employees last week in 31 sales offices around the country, company officials confirmed. Most who lost their jobs were field office sales agents in offices that Hancock's chairman and chief executive, Stephen L. Brown, said were unprofitable.