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Nov 9, 2017

Manulife exploring 'all options' for John Hancock: CEO

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TORONTO — Canadian insurer Manulife Financial Corp (MFC.TO) is "looking at all options" for the future of its John Hancock U.S. unit, new Chief Executive Officer Roy Gori said in an interview on Thursday.

"We will continue to look at all options but at the same time we wouldn't do anything unless it created value for the shareholders," he said.

Manulife acquired John Hancock for $15 billion in 2004 in a deal that doubled the size of the insurer. There has been speculation in recent years that the business could be sold as it has made Asia its priority for growth.

Gori, who became CEO in October, said Manulife saw opportunities to improve the performance of the business.

He declined to comment on whether Manulife was actively working on a John Hancock sale or stock market listing.

"We would never say never to anything but we wouldn't be speculating on any hypothesis like that," he said.