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Life Health > Life Insurance

Hancock Loses Employee To Attack

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NU Online News Service, Sept. 18, 11:52 a.m. – John Hancock Financial Services Inc., Boston, lost an employee in last week’s terrorist attack on Manhattan’s World Trade Center. The company did not have an office at the former site, says Roy Anderson, director of public relations.

David D’Alessandro, chairman and chief executive officer says, “We lost one of our own employees as well as many friends, and empathize with the pain people are feeling.”

Company officials responded to inquiries regarding what the financial impact on the company will be in connection with the Sept. 11 attacks on four U.S. passenger jets, the Pentagon and the Manhattan World Trade Center Complex.

“After completing an intense, initial review of the situation, company officials believe that there is no reason to conclude that the tragedy will have a material impact on the company’s financial strength,” the company says. “The company based this belief on an examination of both its asset and liability exposures, including its retail life coverage, including Corporate Owned Life Insurance, group life coverage, and investment portfolios.

“Based on this review, the company believes that the tragedy’s impact is not material to its financial strength nor reason to change its guidance for the rest of the year.”

The company continues to expect 2001 earnings per-share growth of 10-12%.


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