Tokyo - Manulife Life Insurance Company (“Manulife Japan”; President & CEO: Geoff Crickmay) announced the establishment from February 1 of a new Managing General Agents (MGA) Department headed by Koichiro Yoshizumi, Vice-President & Corporate Officer, as part of the Company’s strategic initiative to meet the needs of high net worth customers and begin insurance sales via independent agents.
Manulife Japan, through the newly created MGA Department, aims to establish and promote a new agent channel to complement Manulife Japan’s existing sales channels, including those with its PlanRight Advisors (Manulife’s own sales representatives) and its affiliated financial institutions. Through this new channel, the Company will be able to deliver its products and services to even more customers with a focus on the high net worth market segment, including business entrepreneurs, business owners and other persons of means.
Managing General Agents refers to large-scale, independent agents in the North American market. The name “MGA,” therefore, accurately conveys the strategic aim of the department to realize a new type of agency business in Japan.
Going forward, the MGA Department will partner with independent agents who have strong, trusting relationships with business entrepreneurs and other high net worth customers, to meet their financial needs. These independent agents will now be able to offer the Manulife Financial Group’s accumulated know-how and expertise associated with employee welfare systems, including retirement plans, smooth business succession/estate planning and fund accumulation/asset-building, as well as supporting their customers’ stable and lasting business development by use of life insurance.
Department name: MGA Department
Date of establishment: February 1, 2007
Head of department: Koichiro Yoshizumi, Vice-President and Corporate Officer
Manulife Life Insurance Company (“Manulife Japan”), a member company of the Manulife Financial group, holds the highest level "AAA" credit rating from Standard & Poor’s, one of the world’s most reliable credit rating agencies (as of January, 2007).
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$414 billion (US$355 billion) as at December 31, 2006.
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. Manulife Japan can be found on the Internet at www.manulife.co.jp.
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Manulife Life Insurance Company