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Hancock John Financial Services Inc – ‘8-K’ for 7/19/02

On:  Friday, 7/19/02, at 4:23pm ET   ·   For:  7/19/02   ·   Accession #:  1010521-2-230   ·   File #:  1-15607

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 7/19/02  Hancock John Fin'l Services Inc   8-K:5       7/19/02    1:7K                                     Maffucci Noel/FA

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         John Hancock Financial Services, Inc.                  6     17K 

Document Table of Contents

Page (sequential) | (alphabetic) Top
11st Page   -   Filing Submission
2Item 5. Other Information
"Item 7. Financial Statements and Exhibits
6Forward-Looking Statements
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[Enlarge/Download Table] SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report: July 19, 2002 (Date of Earliest Event Reported) JOHN HANCOCK FINANCIAL SERVICES, INC. (Exact name of registrant as specified in charter) Commission File Number: 1-15607 DELAWARE 04-3483032 (State or other jurisdiction of incorporation (I.R.S. Employer Identification No.) or organization) John Hancock Place Boston, Massachusetts 02117 (Address of principal executive offices) (617) 572-6000 (Registrant's telephone number, including area code)
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Item 5. Other Information. On July 19, 2002, John Hancock Financial Services, Inc., a Delaware corporation, issued a press release, a copy of which is attached hereto as Exhibit 99 and is incorporated herein by reference. Item 7. Financial Statements and Exhibits. (c) Exhibits Exhibit No. Item ----------- ---- 99 Press Release of John Hancock Financial Services, Inc., dated July 19, 2002.
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SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. JOHN HANCOCK FINANCIAL SERVICES, INC. Date: July 19, 2002 By: /s/Thomas E. Moloney -------------------- Thomas E. Moloney Chief Financial Officer
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Exhibit 99 ----------
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For Release: Upon Receipt John Hancock Settles "Modal Premium" Class Action Litigation New Mexico State Court Gives Preliminary Approval To Agreement Boston (July 19, 2002)-- John Hancock Financial Services, Inc., has settled a nationwide class action lawsuit involving policyholders who paid premiums on a monthly, quarterly or semi-annual basis, rather than annually. The lawsuit, known as a "Modal Premium" action, was filed in a New Mexico state court and is one of twenty-one such nationwide class actions brought against insurance companies. In "Modal Premium" cases, the plaintiffs have generally alleged that their insurance company did not adequately notify them of additional costs that may be incurred if they pay their premiums on a periodic rather than annual basis. In John Hancock's case, the class action settlement affects approximately 1.5 million customers who purchased various insurance products from the company and paid on a monthly, quarterly or semi-annual basis. If eligible under the agreement, these customers may receive a settlement death benefit of $800, $1100 or $1400, depending on their specific circumstances. According to company officials, the after-tax cost to provide this benefit along with related administrative and legal expenses is $19.5 million, a non-operating income item. A toll-free number and website are being set up to handle any questions class members may have about the settlement. The toll-free number will be 800-873-2354. The website's address will be The number and website will become operational over the next several weeks as the court-approved notices are mailed to members of the class. John Hancock Financial Services, Inc. (NYSE: JHF) and its affiliated companies provide a broad array of insurance and investment products and services to retail and institutional customers. As of March 31, 2002, John Hancock and its subsidiaries had total assets under management of $125.3 billion. -more-
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-2- Forward-looking Statements The statements, analyses, and other information contained herein relating to trends in the company's operations and financial results, the markets for the company's products, the future development of the company's business, and the contingencies and uncertainties to which the company may be subject, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "should," "may," and other similar expressions, are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Such statements are made based upon management's current expectations and beliefs concerning future events and their potential effects on the company. Future events and their effects on the company may not be those anticipated by management. John Hancock's actual results may differ materially from the results anticipated in these forward-looking statements. For a discussion of factors that could cause or contribute to such material differences, investors are directed to the risks and uncertainties discussed in our Form 10-K for the year ended December 31, 2001, and other documents filed by the company with the Securities and Exchange Commission. These risks and uncertainties include, without limitation, the following: changes in general economic conditions; the performance of financial markets and interest rates; customer responsiveness to existing and new products and distribution channels; competitive and business factors; new tax or other legislation; and government regulation. The company specifically disclaims any obligation to update or revise any forward looking information, whether as a result of new information, future developments or otherwise. # # #

Dates Referenced Herein   and   Documents Incorporated by Reference

Referenced-On Page
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Filed on / For Period End:7/19/0215
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Filing Submission 0001010521-02-000230   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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