Manulife leads 2023 with sustainable growth and equity

Manulife has unveiled its 2023 Sustainability Report and Public Accountability Statement, presenting its strategies, performances, and achievements tied to its three Impact Agenda pillars. 

These pillars are empowering sustained health and well-being to support better life journeys, driving inclusive economic opportunities to level the playing field, and accelerating a sustainable future to protect our planet.   

The 2023 Sustainability Report highlights several achievements by Manulife:   

Empowering sustained health and well-being   

• Provided over 2.1 million customers globally with access to behavioural insurance platforms. 

• Increased mental health benefits for Canadian employees by 20 percent, raising the amount from $10,000 to $12,000. 

• Achieved a top quartile ranking for employee engagement among financial services peers, ranking in the 89th percentile. 

• Hosted the inaugural “Longer. Healthier. Better.” longevity symposium, attracting life insurance brokers, reinsurance leaders, media, and government officials to discuss advances in science, healthcare, and education. 

Driving inclusive economic opportunity   

• Achieved near parity in gender pay globally, with women earning 99 percent of what men earn, and in North America, racially and ethnically diverse groups earning 101 percent. 

• Sold over 668,000 specialized, affordable insurance policies in emerging markets across Asia, enhancing financial resilience for underserved populations. 

• Contributed $27.9m to global communities. 

• Became the first insurer in Indonesia to offer life insurance to individuals living with HIV. 

Accelerating a sustainable future   

• Grew the General Account's sustainable investment portfolio to $48.3bn. 

• Released the Climate Action Implementation Plan to guide climate transition management across operations, investments, and products. 

• Announced the first closure of the Forest Climate Strategy, opening participation in natural climate solution markets to qualified investors. 

• Manulife Investment was recognized again as the largest manager of natural capital by IPE Real Asset's Top 25 Natural Capital Managers ranking. 

“As a global insurer and asset manager, Manulife grounds itself in the principles of longevity to empower longer, healthier lives for our customers and for our planet,” commented Sarah Chapman, Manulife's Global Chief Sustainability officer. 

“We are proud of our achievements during 2023, and we remain steadfast in our belief that collective action can accelerate change. As we look to 2024 and beyond, we continue to be guided by our Impact Agenda and our global strategy to make great progress for our customers, communities, and the future we all share.”