October 14, 2008 / 12:34 PM / in 9 years

Manulife says capital concerns grossly exaggerated

TORONTO, Oct 14 (Reuters) - Concerns about the capital position at Manulife Financial Corp MFC.TO , Canada’s largest insurer, are “grossly exaggerated,” and the company is not looking at issuing shares or cutting its dividend, its chief executive officer told a conference call on Tuesday.

The company has no plans to reduce its dividend, CEO Dominic D‘Alessandro said on a call before markets opened. ($1=$1.14 Canadian) (Reporting by Lynne Olver, editing by Gerald E. McCormick)

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