Maritime Life History

1922 – 1939

April 29,1922, Maritime Life was incorporated by a group of Nova Scotia families. Ranks 58 out of 60 Canadian life insurance companies.
1924, Maritime Life writes its first policies, including a provision that the holder "could not make any aerial flights whatsoever."
1933, Maritime Life surpasses $1 million in assets under administration.
1935, first dividend declared on capital stock. Approaching $2 million in assets under administration.

1940 – 1959

1947, first Maritime Life participating policy is written.
1956, the First Branch outside of Atlantic Canada opens in Kingston, Ontario.
1959, branches now in Toronto, Perth and Windsor, Ontario, and Montréal, Quebec.

1960 –1979

1961, Maritime Life is one of the fastest growing insurance companies in Canada. The company acquires The Royal Guardians insurance company of Montreal, bringing assets under administration to $18.8 million.
1969, John Hancock Mutual Life Insurance Company of Boston, Massachusetts purchases Maritime Life.
1969, Maritime Life wins the Canadian Forces (SISIP) group contract.
1973, Maritime Life moves into new headquarters at the head of the Northwest Arm in western Halifax.
1979, offices now open across the country. Began partnering with independent financial advisors to sell products.

1980 - 1999

1981, new money policies, pioneered by Maritime Life, are introduced and become the precedent for the accepted industry norm today.
1982, assets under administration: $1 billion - one full year ahead of target date for this milestone.
1986, Maritime Life issues $35 million in preferred shares.
1986, industry rank is 17th of 150 companies in Canada.
1993, assets under administration: $3.2 billion.
1993, Maritime Life becomes an Olympic sponsor.
1995, rank in Canadian life insurance industry is 12th.
1995, assets under administration: $4.3 billion.
1995, Maritime Life becomes title sponsor for Swimming/Natation Canada.
1995, Maritime Life acquires the Canadian individual life and health insurance and segregated fund business of Confederation Life.
1997, Maritime Life celebrates 75th Anniversary with $5.5 billion in assets under administration.
1998, Maritime Life becomes the fourth largest supplier of investment products in Canada with more than $2 billion in segregated fund assets.
1998, Maritime Life creates strategic alliance with Montreal based Talvest Fund Management Inc. to launch segregated fund family, Synchrony Funds.
1999, Maritime Life doubles in size through purchase of Aetna Life Insurance Company of Canada.
1999, Maritime Life issues $100 million in preferred shares.

2000 - 2004

2001, the purchase of Royal & SunAlliance Life Insurance Company of Canada (also known as Royal & SunAlliance Financial) is completed. Assets under administration increased from $11.5 billion to more than $13.5 billion and our net income exceeds $100 million for the first time.
2002, Maritime Life adopts a new way of interacting with customers on the Web and introduces a new logo.
2002, Maritime Life issues $100 million in preferred shares.
2003, the assumption of the insurance business of Liberty Health is completed and Maritime Life gains a new line of business, individual supplementary health insurance, and increased presence in the group insurance market.
2003, the Toronto offices of Maritime Life move into the newly constructed Maritime Life Tower at 2 Queen Street East.
2004, for the fifth consecutive year, Maritime Life is recognized as one of "The 50 Best Employers in Canada" as ranked by the Globe & Mail's Report on Business magazine.
On April 28, 2004, Manulife Financial Corporation and John Hancock Financial Services Inc. (including its Canadian subsidiary Maritime Life) completed the amalgamation into one company under the name Manulife Financial. John Hancock is now a wholly owned subsidiary of Manulife Financial. In Canada, Maritime Life’s product and services will be folded into Manulife Financial’s Canadian operations as the integration process moves forward.

All figures in Canadian dollars.