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Hancock Units To Merge

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The Massachusetts Division of Insurance will hold a hearing Aug. 5 to consider a proposed union of 3 John Hancock companies.

Manulife Financial Corp., Toronto, has applied for permission to merge John Hancock Life Insurance Company and John Hancock Variable Life Insurance subsidiaries into John Hancock Life Insurance Company (U.S.A.).

The Aug. 5 hearing is a continuation of a meeting held in October 2008 to consider the proposed merger.

That hearing was adjourned and continued at Manulife’s request, according to the Massachusetts insurance division.