C$ unless otherwise
stated
TSX/NYSE/PSE: MFC
SEHK: 945
TORONTO, Nov. 13, 2019 /CNW/ - Manulife and the Toronto
Transit Commission (TTC), in partnership, are pleased to have
resolved the matter related to the Healthy Fit case. Terms of the
settlement, which is related to a 2016 TTC statement of claim, were
not disclosed.
Manulife and the TTC remain united in a commitment to fraud
prevention and collaborated on the investigation that brought
Healthy Fit to justice. We're pleased to have worked together, with
law enforcement, to stop a fraudulent provider. Healthy Fit owner,
Adam Smith, was convicted and
sentenced in 2017.
Benefits fraud is a crime. It has serious consequences,
including criminal charges and even jail time, as seen in extreme
cases like this. Fraudulent claims also impact the cost of
providing benefits, which influences what employers can cover, and
can hurt employees who are truly in need.
Manulife continues to strengthen and invest in our comprehensive
fraud program, which includes proactive efforts and prevention
through our trusted provider network.
About Manulife
Manulife Financial Corporation is a
leading international financial services group that helps people
make their decisions easier and lives better. With our global
headquarters in Toronto, we
operate as Manulife across our offices in Canada, Asia,
and Europe, and primarily as
John Hancock in the United States. We provide financial
advice, insurance, as well as wealth and asset management solutions
for individuals, groups and institutions. At the end of 2018, we
had more than 34,000 employees, over 82,000 agents, and thousands
of distribution partners, serving almost 28 million customers. As
of September 30, 2019, we had over
$1.2 trillion (US$881 billion) in assets under management and
administration, and in the previous 12 months we made $29.8 billion in payments to our customers. Our
principal operations in Asia,
Canada and the United States are where we have served
customers for more than 100 years. We trade as 'MFC' on the
Toronto, New York, and the Philippine stock exchanges
and under '945' in Hong
Kong.
SOURCE Manulife Financial Corporation