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Manulife launches Avon LTCL Toronto – Manulife Financial is pleased to announce the launch of Avon Long Term Care Leaders, bringing new support to insurance companies currently in or entering the Long Term Care marketplace. Avon Long Term Care Leaders is a specialized reinsurance intermediary and risk manager. Located in Avon, CT, it brings together a number of experienced long term care insurance and reinsurance professionals. The staff, led by Gary Corliss, CEO, has a reputation for innovative product design, stable premium development, sound and timely underwriting, and an unrivalled care coordination process. These experienced individuals have created, developed and reinsured LTC programs in 14 countries across four continents, resulting in thousands of satisfied policyholders over the past twenty years. Gary Corliss will report to Steve Mannik, Senior Vice President and General Manager, Reinsurance Operations, at Manulife Financial. Manulife Reinsurance is the largest life retrocessionaire in North America, and a leading provider of structured reinsurance. It is anticipated that Avon LTCL will be accepting risk starting in May of this year, pending completion of appropriate licensing. About Manulife Financial Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were Cdn$146.2 billion as at December 31, 2002. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. - 30 -
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