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Ratings

Credit rating agencies assign financial strength or credit ratings to Manulife Financial, its subsidiaries and its securities. All ratings current as of December 31, 2023.

Financial strength ratings

Company
S&P Global Ratings
Moody’s Investor Service Inc.
AM Best Company
Fitch Ratings Inc.
Morningstar DBRS
The Manufacturers Life Insurance Company AA- A1 A+ AA- AA 
John Hancock Life Insurance Company (U.S.A.) AA- A1 A+ AA-  
John Hancock Life Insurance Company of New York AA- A1 A+ AA-  
John Hancock Life & Health Insurance Company AA- A1 A+ AA-  
Manulife (International) Limited AA-        
Manulife Life Insurance Company A+        
Manulife  (Singapore) Pte. Ltd. AA-        

Senior unsecured debt ratings

Company
S&P Global Ratings
Moody’s Investor Service Inc.
AM Best Company
Fitch Ratings Inc.
Morningstar DBRS
Manulife Financial Corporation A   A- A- A (high)
John Hancock Life Insurance Company (U.S.A.) AA-   A+    

Subordinated debt ratings

Company
S&P Global Ratings
Moody’s Investor Service Inc.
AM Best Company
Fitch Ratings Inc.
Morningstar DBRS
John Hancock Life Insurance Company (U.S.A.) A   A A  
Manulife Finance (Delaware) L.P. A-    BBB+ BBB+ A
Manulife Financial Corporation A-   BBB+ BBB+ A


Manulife Financial Capital Securities (MaCS) Ratings

 
Standard & Poor’s
Moody's
A.M. Best
Fitch
DBRS
Manulife Financial Capital Trust II- Series 1 A   A- A- A

Preferred Share Ratings

Company
S&P Global Ratings
Moody’s Investor Service Inc.
AM Best Company
Fitch Ratings Inc.
Morningstar DBRS
Manulife Financial Corporation BBB+   BBB BBB- Pfd-2 (high)

Term Deposit Notes

Company
S&P Global Ratings
Moody’s Investor Service Inc.
AM Best Company
Fitch Ratings Inc.
Morningstar DBRS
Manulife Bank of Canada A+       AA (low)

Short Term Deposit Notes

Company
S&P Global Ratings
Moody’s Investor Service Inc.
AM Best Company
Fitch Ratings Inc.
Morningstar DBRS
Manulife Bank of Canada A-1       R-1 (middle)
The Manufacturers Life Insurance Company A-1+        

Limited Recourse Capital Notes

Company
S&P Global Ratings
Moody’s Investor Service Inc.
AM Best Company
Fitch Ratings Inc.
Morningstar DBRS
Manulife Financial Corporation BBB+   bbb+ BBB- A (low)

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