However, Gori clarified that Manulife is not dependent on a single market or region. He highlighted the company’s strength in having a diverse business capable of withstanding global market fluctuations.
In addition to focusing on business growth, Gori has prioritized optimizing the company’s portfolio. Manulife recently finalized two reinsurance deals, moving away from low-growth assets to free up capital. These efforts have resulted in $11bn in capital being made available since 2018.
Gori explained that divesting from risky, low-return businesses has allowed the company to reinvest in more profitable organic businesses.
Manulife is also investing heavily in new technologies, particularly generative AI. Gori pointed out that the industry has struggled with digitizing customer experiences, but Manulife has made significant strides in integrating new technologies over the past six years.
He believes AI offers a tremendous opportunity to enhance customer experience through digital tools.