A.M. Best Co. has affirmed the financial strength rating of A++ (Superior) of Manufacturers Life Insurance Co. of Toronto and its U.S. subsidiaries. Additionally, A.M. Best has affirmed the existing debt ratings of Manulife Financial Corp. and its subsidiaries. These ratings have stable outlooks.

According to the rating agency, the ratings reflect Manulife’s strong franchise and market positions in Canada, the United States and Asia for financial protection and wealth management products, its diversified sources of earnings by geographic location and product line and its multi-channel distribution network.

A.M. Best says Manulife maintains a superior level of capitalization that has been supported by excellent operating performance across all lines and by its conservative reserving practices.

It notes Manulife continues to grow its core markets organically through the introduction of new products and product enhancements, as well as through strategic acquisitions and integration of blocks of business and companies.

A.M. Best believes these results are sustainable and provide ample liquidity to strongly support long-term debt service capabilities and views Manulife as very strong within its rating category.