Breaking News of Manulife Financial takeover of Boston- based insurer John Hancock was big news last week. The 15 billion dollar acquisition will vault the Canadian company to the top ranks of the global insurance industry. Market Capitalization that is second to Royal Bank of Canada. For the "bigger is always better" crowd. President Dominic D' Alessandro tried to merge with Canadian Imperial Bank of commerce, but got nothing but the silent treatment. Then Canadian Life …
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…acquisition will vault the Canadian insurance industry. I believe both companies can apply both their strengths and use it to make it one successful company. Although Fox-Pitt Kelton feels this merger will not work in the long run, due to John Hancock's return on equity. I would have to disagree with him because Manulife and John Hancock will do great, bring in new clients and expanding the industry with both companies ideas and strong points.