Manulife Financial Corporation (MFC)

Insurance stocks face their share of headwinds but can sustain dividend payments and growth this year and into the future.

Heavy short interest can be a sell signal, but these three stocks have bullish stories that make them attractive investments despite heavy short interest

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the life/health (L/H) insurance subsidiaries of Manulife Financial Corporation (MFC) (Toronto, Canada) [NYSE: MFC]. Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of MFC. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.)

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the life/health (L/H) insurance subsidiaries of Manulife Financial Corporation (MFC) (Toronto, Canada) [NYSE: MFC]. Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IR) of MFC. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.)

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) to the CAD 1.0 billion, 7.117% subordinated notes, due June 19, 2082, recently announced by Manulife Financial Corporation (MFC) (Toronto, Canada) [NYSE: MFC]. The outlook assigned to the Credit Rating (rating) is stable.

AM Best has commented that the Credit Ratings (ratings) of Manulife Financial Corporation (MFC) (Toronto, Canada) [NYSE: MFC] and its subsidiaries remain unchanged following the Nov. 15, 2021, announcement that the company has entered into an agreement to reinsure a significant portion—more than 75%—of its legacy U.S. variable annuity (VA) block to Venerable Holdings Inc. The block consists mainly of policies with guaranteed minimum withdrawal benefit riders. The reinsurance deal is expected to close during first-quarter 2022.

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the life/health (L/H) insurance subsidiaries of Manulife Financial Corporation (MFC) (Toronto, Canada) [NYSE: MFC]. Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IR) of MFC. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.)