By Allison Bell
Michael Doughty is taking over for Marianne Harrison as the executive responsible for overseeing the U.S. long-term care insurance (LTCI) operations of Manulife Financial Corp. (NYSE:MFC).
Manulife has picked Harrison to become the general manager of its Canadian division.
John Hancock Financial, the Boston-based U.S. division of Manulife, has named Doughty to become executive vice president and general manager of the John Hancock Insurance unit.
Doughty already is the head of John Hancock Life Insurance. Before that, he was head of Manulife's individual insurance business in Canada.
The new title means that Doughty will oversee the LTCI business
as well as the life insurance business, John Hancock Financial said today.
Craig Bromley will continue to be the president of John Hancock Financial.
John Hancock Financial believes that the U.S. life and LTCI businesses are similar, and that bringing them together under one leader will help the businesses operate more effectively, Bromley said in a statement about Doughty's new role.
Originally published on LifeHealthPro.com