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Manulife Vietnam becomes first-ever profitable life insurance company in Vietnam Ho Chi Minh City – Manulife Vietnam proudly announced that after only three years of operation, it has become the first life insurance company in Vietnam to declare a profit. With profits before tax exceeding VND 20 billion as at December 31, 2002, Manulife is prepared to contribute even more to the economic development of Vietnam, beginning first with its plan to reinvest the 2002 profit into additional staff and agency training programs, enhanced customer services, and expansion of business operations across the country. To honour the occasion, Manulife will also make a considerable donation to the Vietnam Association for the enhancement of children’s educational facilities. “This is a major milestone for Manulife Vietnam and for the insurance industry of this country,” said Marc Sterling, Senior Vice President, Regional Operations Asia, Manulife Financial, at a press conference this afternoon at the Caravelle Hotel. “We would like to express our sincere thanks to the Government for their favorable policies toward the growth and development of the life insurance industry in Vietnam.” “This outstanding accomplishment announced by Manulife Vietnam today can be attributed to the trust of our customers, our dedicated agents and staff, and our well-managed operations. This milestone reaffirms our position as the premier life insurance provider in Vietnam, creating the foundation for Manulife to further contribute in a significant manner to the economic development of Vietnam, well into the future,” Mr. Sterling added. Manulife Vietnam has a dependable history of meeting the financial expectations of policyholders, as set out in its point-of-sale illustration documents. The company has allocated participating dividends to all eligible policyholders in accordance with these illustrations since the start of operations in 1999. “Manulife Vietnam aims to retain each policy owner as a client for life,” said David Matthews, General Director of Manulife Vietnam, also at the press conference. “Our dealings with each of our 170,000 customers are governed by our values of honesty, fairness, integrity and professionalism. We are committed to providing Real Value to our Customers – one of the global company’s core competencies. And we have now proven that we are continuing to meet this commitment. With demonstrated financial strength, prudent investment expertise and well-managed operations, we have made a profit after only three years of operations.” “Our employees, agents and business partners are dedicated to working together to realize our vision to be the most professional life insurer in Vietnam and the world over. We owe our success to date to this professional and committed team of people who distinguish themselves by the quality of work they do for Manulife Vietnam,” Mr. Matthews added. Demonstrating ongoing commitment to the community Being a good corporate citizen is fundamental to being a world-class company. To mark its first profitable year, Manulife Vietnam – on behalf of its customers and more than 6,000 agents and staff – will donate VND 300 million to the Vietnam Association for Promoting and Supporting Educational Development. Funds will build a computer classroom for poor and disabled children. The donation ceremony will take place in Hanoi on March 21, 2003, in the presence of the Ministry of Finance. With this donation, Manulife once again demonstrates its long-term commitment to improving the quality of life in the communities in which it conducts business in Vietnam. About Manulife (Vietnam) Limited Manulife Vietnam – the first 100 per cent foreign-owned life insurance company in Vietnam – provides financial services to more than 170,000 customers through a network of more than 6,000 professionally qualified agents and staff. Manulife has been operating in Vietnam since June 1999. 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 - For further information, please call: Hang Luu, Marketing Manager Manulife (Vietnam) Limited Tel: (84-8) 825 7722 Ext. 2502 Fax: (84-8) 825 7718 E-mail: Hang_Luu@manulife.com |
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