A.M. Best Co. has affirmed all the debt ratings of Manulife Financial Corp. and its subsidiaries. Additionally, A.M. Best has affirmed the financial strength rating of A++ (Superior) of The Manufacturers Life Insurance Co., as well as the ratings of Manulife’s John Hancock subsidiaries.

A.M. Best says the ratings of Manulife and its subsidiaries are based on their consolidated financial strength and operating performance. They also reflect Manulife’s established presence in multiple markets, increasing profitability from its geographically diversified businesses, its strong capitalization and conservative reserving practices.

Manulife provides financial protection and wealth management products through its operations in 19 countries and territories. A.M. Best says Manulife’s operational and geographic diversification, as well as its solid position in these markets, somewhat insulates it from wide fluctuations of revenues and earnings. The company maintains a strong franchise and market position in all core markets in which it operates in Canada, the United States and Asia.

In addition to organic growth the company has selectively pursued acquisitions. In April 2004, Manulife merged with John Hancock Financial Services, Inc. to become the largest life insurer in Canada and the second largest in North America, as measured by market capitalization.

According to A.M. Best, the complementary geographic businesses in Canada, the United States and Asia provide a solid platform for both Manulife and John Hancock to achieve significant costs savings upon integration based on significant scale and market share.