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Credit Ratings

Rating agencies each assign financial strength, claims paying ability or credit ratings to The Manufacturers Life Insurance Company, its subsidiaries and its securities. All of these ratings are within each rating agency's highest ranges of categories, thereby recognizing the Company as among the strongest in the life insurance industry.

Financial Strength/Claims Paying Ability Ratings
Senior Unsecured Debt Ratings
Subordinated Debt Ratings
Commercial Paper Ratings
Manulife Financial Capital Securities (MaCS) Ratings
Preferred Share Ratings
Term Deposit Notes
Short Term Deposit Notes

Financial Strength/Claims Paying Ability Ratings

Standard & Poor's

Moody's

A.M. Best

Fitch

DBRS

The Manufacturers Life Insurance Company

AA+

Aa3

A+

AA

IC-1

John Hancock Life Insurance Company (U.S.A.)

AA+

Aa3

A+

AA

John Hancock Life Insurance Company of New York

AA+

Aa3

A+

AA

John Hancock Life & Health Insurance Company

AA+

Aa3

A+

AA

Manulife (International) Limited

AA+

Manulife Life Insurance Company

AA+


Senior Unsecured Debt Ratings

Standard & Poor's

Moody's

A.M. Best

Fitch

DBRS

John Hancock Life Insurance Company (U.S.A.)

AA+

A1

The Manufacturers Investment Corporation

A+

A3

AA (low)

John Hancock Global Funding

Aa3

aa

AA

Manulife Finance (Delaware) L.P.

A+

a

A

AA

Manulife Financial Corporation

A+

a

A

AA (low)


Subordinated Debt Ratings

Standard & Poor's

Moody's

A.M. Best

Fitch

DBRS

The Manufacturers Life Insurance Company

AA

a+

A

AA (low)

John Hancock Life Insurance Company (U.S.A.)

AA-

Manulife Finance (Delaware) L.P.

A

a-

A-


Commercial Paper Ratings

Standard & Poor's

Moody's

A.M. Best

Fitch

DBRS

The Manufacturers Life Insurance Company

R-1 (mid)


Manulife Financial Capital Securities (MaCS) Ratings

Standard & Poor's

Moody's

A.M. Best

Fitch

DBRS

Manulife Financial Capital Trust

AA-

a

A+

A (high)

Manulife Financial Capital Trust II- Series 1

AA-

A (high)


Preferred Share Ratings

Standard & Poor's

Moody's

A.M. Best

Fitch

DBRS

Manulife Financial Corporation

A-

bbb+

A-

Pfd-1 (low)


Term Deposit Notes

Standard & Poor's

Moody's

A.M. Best

Fitch

DBRS

Manulife Bank of Canada

AA-

AA


Short Term Deposit Notes

Standard & Poor's

Moody's

A.M. Best

Fitch

DBRS

Manulife Bank of Canada

A-1+

R-1 (mid)

John Hancock Life Insurance Company (U.S.A.)

A-1+