Manulife Financial Corp. and John Hancock Financial Services Inc. said they have completed their merger after receiving all necessary regulatory approvals.

The deal, approved by a 95% vote by John Hancock shareholders Feb. 24, makes Manulife the largest public company and largest life insurance company in Canada, the second-largest life insurer in North America and the fifth-largest in the world based on market capitalization as at April 27, 2004.

The company said customers’ benefits, premiums, values or guarantees of current policies or contracts will not change as a result of the merger, the largest cross-border transaction in Canadian history.

The deal means John Hancock is now a subsidiary of Manulife Financial and includes Hancock Halifax-based subsidiary, The Maritime Life Assurance Co.

John Hancock stock will cease trading on the New York Stock Exchange at the close of markets today. The 675,000 John Hancock common shareholders are entitled to receive 1.1853 Manulife common shares for each John Hancock common share.

“We are pleased to welcome John Hancock and Maritime Life customers, distribution partners and employees, as well as former John Hancock shareholders, to the Manulife family,” Manulife president and CEO Dominic D’Alessandro said in a statement. “The addition of these businesses and the resources they bring will help us realize our vision to be the most professional life insurance company in the world.”