Manulife has launched the Longevity Institute, a global research, advocacy, and community investment platform focused on lifelong health and financial resilience, with the company committing C$350m (approx. US$249.5m) to the initiative through to 2030.
In its announcement, Manulife noted the gap between lifespan and healthspan is growing, with many people spending up to 20% of their lives in poor health and nearly 40% facing financial insecurity as they age. The business added that the Longevity Institute will focus on two key outcomes for an ageing population: improving people’s health and wealth.
Manulife said it will do so by focusing on global research to understand how people can “flourish as they live longer”; supporting innovation and advocacy through initiatives that promote health, wellness, and financial readiness; and investing in community partnerships to advance knowledge, promote equity, and support action on longevity.
Speaking on Asia, Steve Finch, president and CEO of the region, noted that one in four people will be over the age of 60 by 2050. “By supporting early-stage innovations and providing comprehensive solutions, we aim to help people live better for longer and secure their financial futures,” Finch said.
As part of the launch, Manulife has initiated several efforts, including organising Longevity Symposiums and collaborating with institutions such as the Milken Institute, Canadian National Institute on Ageing, and Toronto Metropolitan University.
The launch comes as demographic trends move toward a sharp rise in ageing populations, especially in Asia. In the latest research of Swiss Re, Asia’s elderly population is expected to balloon to nearly 1 billion by 2050. Japan and Hong Kong have already been classified as “super-aged” societies, while Singapore, Thailand, and South Korea are also transitioning from “ageing” to “aged” over the next two to three decades.
