John Hancock, the Boston, Massachusetts-based insurance company, will end its position as the principal sponsor of the Boston Marathon after the 2023 race on the expiration of the current deal.
The company has partnered with the Boston Athletic Association since 1986.
As reported by the Boston Business Journal, John Hancock’s president and chief executive Marianne Henderson said the insurer had decided not to renew the deal “after careful review.”
“Our business has changed so much over the nearly four decades of our sponsorship; we have grown in size and scale and are more globally aligned than ever before,” Henderson wrote to the company's employees. “As our organization evolves and we double down on opportunities to help customers live longer, healthier lives through our John Hancock Vitality program, our partnerships must also evolve.”John Hancock also recently ended its sponsorship of Major League Baseball's Boston Red Sox.