After a COVID boost in life insurance sales at John Hancock, the Boston-based insurance company is starting to see a slowdown.
Manulife Financial Corp., Hancock’s Canadian parent company, reported Thursday that it had a U.S. annualized premium equivalent (APE) that reached $79 million in the third quarter, a 31% drop from the same period last year, which was at $115 million. This is a dramatic difference from two years ago, when Hancock was seeing a 58% increase in its APE year-over-year.
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