Manulife says capital concerns grossly exaggerated

Tue Oct 14, 8:43 AM
TORONTO (Reuters) - Concerns about the capital position at Manulife Financial Corp , Canada's largest insurer, are "grossly exaggerated," and the company is not looking at issuing shares or cutting its dividend, its chief executive officer told a conference call on Tuesday.
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(Reuters)

TORONTO (Reuters) - Concerns about the capital position at Manulife Financial Corp , Canada's largest insurer, are "grossly exaggerated," and the company is not looking at issuing shares or cutting its dividend, its chief executive officer told a conference call on Tuesday.

The company has no plans to reduce its dividend, CEO Dominic D'Alessandro said on a call before markets opened.

($1=$1.14 Canadian)

(Reporting by Lynne Olver, editing by Gerald E. McCormick)