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  "documentTitle": "Manulife Financial Corporation (MFC)",
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  "authorName": "Carson C. Block",
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  "notes": "This is a research note page detailing a specific legal risk (Mosten vs. Manulife) and its potential impact on capital adequacy and dividends.",
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      "text": "We believe that if Mosten wins and raises billions for its fund, Manulife’s annual losses from this contract could also number in the billions.",
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      "text": "The Manulife Trial is about the Architect IIe universal life insurance policy issued by Aetna Life Insurance Company of Canada... Mosten is the plaintiff and is seeking a declaratory judgment that its interpretation of its rights under the contract is correct...",
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      "text": "What does this mean for Manulife? If Mosten wins outright at trial and raises institutional money, this could negatively impact earnings, affect Manulife's capital adequacy ratio and potentially threaten Manulife's current and future life insurance business...",
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      "kind": "quote",
      "text": "There are a lot of ways to lose money in insurance, and the industry is resourceful in creating new ones",
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      "kind": "quote",
      "text": "\"There are a lot of ways to lose money in insurance, and the industry is resourceful in creating new ones\" (emphasis added) and \"The unpredictability of our legal system makes it impossible for even the most conscientious insurer to come close to judging the eventual cost of long-tail claims.\" — Warren Buffett",
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      "text": "Aetna Canada was acquired by Maritime Life in 1999, and Manulife acquired Maritime Life in 2004.",
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