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Violation Tracker Individual Record

Company: John Hancock Life Insurance Company
Current Parent Company: Manulife Financial
Penalty: $123,074,128
Year: 2022
Date: May 26, 2022
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: John Hancock agreed to pay $123 million to settle class action litigation accusing the company of overcharging for life insurance.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:18cv4994
Case Name: Leonard et al v. John Hancock Life Insurance Company of New York et al
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: Canada
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.