2009 News Releases

Manulife Japan Reports Growth in Major Profit Performance Indicators, Maintains Robust Financial Strength

Tokyo - Manulife Life Insurance Company (hereinafter “Manulife Japan”; Head Office: Chofu-shi, Tokyo; President and CEO: Craig Bromley) announces its financial results for the first quarter (April to June 2009) of fiscal year 2009.

During the first quarter, Manulife Japan experienced an improvement in major profit performance indicators and reported a growth in profits. These results were attributable mainly to robust sales of individual insurance products and a gradual recovery of stock markets. Basic Earnings, a major indicator showing the earnings performance of the Company’s core insurance business, rose to 2.5 billion yen during the period from 2.0 billion yen for the same period in the previous year. Operating Income showed growth during the quarter, rising to 6.7 billon yen from 1.4 billion yen on a year-on-year basis. Net Income for the period also showed an increase, rising to 6.7 billion yen from 1.4 billion for the same period a year ago.

In terms of sales, total annualized new business premiums for individual insurance and individual annuity insurance during the quarter slipped to 11.9 billion yen from 15.4 billion yen in the same period in the previous year, due to lower sales of variable annuity insurance. However, annualized new business premiums for individual insurance were 7.3 billion yen, up by 74% compared to the same period a year ago. This growth was driven by strong sales of Whole Life Cancer Insurance and Increasing Term Insurance, primarily through the MGA channel¹, one of the Company’s new sales channels. Total annualized in-force premiums for individual insurance and individual annuity insurance also increased to 252 billion yen, up by 3% (6.6 billion yen) compared to the end of the preceding period.

Reflecting the improvement in profit-related indicators and other favorable financial conditions, Manulife Japan maintained its robust financial strength. The Company’s solvency margin ratio was 1122.1% as of June 30, 2009, a significantly high level demonstrating the Company’s solid financial strength. The Company’s total assets as of June 30, 2009 were 1,843.6 billion yen.

Craig Bromley, President and CEO of Manulife Japan, made the following statement regarding the financial results for the quarter:

“Amid the global financial crisis, Manulife Japan has continued to focus its efforts on promoting the strategic diversification of our sales channels and the development of innovative products that meet the changing needs of our customers, and such dedicated efforts have started to show favorable results. While we continue to face challenging market conditions, we remain committed to maintaining our robust financial strength and to proactively promoting the further enhancement and expansion of our sales channels in order to earn the trust of more customers.”

About Manulife
Manulife Life Insurance Company (“Manulife Japan”) is a member of the Manulife Financial group.

Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 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$420.9billion (US$362.0billion) as of June 30, 2009.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ 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.

¹The MGA (Managing General Agents) channel was named after large-scale, independent agents in the North American market. Manulife Japan established its MGA Department in February 2007, and is taking a proactive approach to realizing a new type of agency business in Japan, with a focus on the high net worth market segment, including business entrepreneurs, business owners, and other persons of means.

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Media Contact:
Saeko Yoshioka
Communications Department
Manulife Life Insurance Company
Tel: 042-442-7180