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2010 News Releases

For Immediate Release

November 23, 2010

Manulife-Sinochem Granted License for Sales Services Division in Anshan, Liaoning

Anshan, Liaoning – Manulife-Sinochem (MSL) announced that it has received regulatory approval from the China Insurance Regulatory Commission (CIRC) to establish a new MSL sales services division in Anshan, Liaoning, the 44th city license to date, further broadening MSL's footprint which is among the largest of any foreign-invested joint venture life insurer.

”We are grateful again for the trust and support from the Chinese regulators,” says Mr. Marc Sterling, Chairman of Manulife-Sinochem, “Anshan is the 3rd largest city in Liaoning Province and is the first city to have opened its economy outwards on the Liaodong Peninsula. The commencement of business by MSL in Anshan marks our continual rapid expansion to Northeast China. We shall endeavor to provide this important area with strong, reliable, trustworthy and forward-thinking insurance products and services, and to grow together with the city of Anshan.”

Anshan is located in the heart of the Bohai Economic Zone and is the nexus between the Liaoning cities and the Liaodong Peninsula Economic Development Zone. The city possesses abundant natural mineral resources and is also a famous tourist spot in China. After over 50 years of development, Anshan has laid a firm foundation in its industrial production.

“We are honored to enter Anshan, this charming city in the North,” says Mr. James Lin, President of Manulife-Sinochem, “With Manulife-Sinochem’s 14 years of experience in the Chinese insurance market, we are proud to have achieved abundant success in agency training, product development, market exploration and customer services and are widely endorsed by the society at large, as evident from the numerous public recognitions awarded to us. Currently we have over 13,000 sales agents and staff providing over half a million clients with professional financial and insurance services. We appreciate the opportunity to serve Anshan consumers with our quality insurance products and services and are ready to play an active role in social responsibility, aimed at helping the local population. With the experience and support from MSL’s Chinese and overseas parents, Manulife-Sinochem is confident to become the most outstanding local employer providing valuable career opportunities to local talents.

About Manulife-Sinochem

Manulife-Sinochem is a joint venture company between Manulife (International) Limited and China Foreign Economy and Trade Trust Company (a member of the Sinochem group). It was the first Chinese-foreign joint-venture life insurance company established in China. Manulife-Sinochem began operations in November 1996. To date the Company has more than 13,000 professionally trained agents and employees, providing financial and insurance services to over 500,000 customers. The company is now developing in over 40 cities including Shanghai and Beijing, and in provinces including Guangdong, Zhejiang, Jiangsu, Sichuan, Shandong, Fujian, Chongqing, Liaoning and Tianjin. With more than ten years’ successful experience, Manulife-Sinochem is committed to offering comprehensive insurance products combined with excellent customer service and professionalism.

Manulife-Sinochem can be found on the internet at www.manulife-sinochem.com.

About Manulife Financial

Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients worldwide have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions.  Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients around the world. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were $474 billion (US$460 billion) as at September 30, 2010. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States. 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.

About Sinochem

As one of the key state-owned enterprises under the supervision of SASAC (State-owned Assets Supervision and Administration Commission of the State Council), Sinochem Group has been named to the “Fortune Global 500” list 20 times, ranking the 203rd in 2010. Sinochem has five business segments including agriculture, energy, chemical, real estate and finance. It is China’s biggest integrated agricultural company with fertilizer, pesticide and seed production. It is China’s fourth largest oil company and leading chemical service provider and enjoys strong influence in China’s high-end commercial real estate market and non-banking financial market. Sinochem has more than 200 branches and subsidiaries both in China and abroad, including three listed companies, Sinochem International (SSE, 600500), SinoFert (HKEX, 00297) and Franshion Properties (HKEX, 00817). In June 2009, Sinochem made a major move to inject most of its assets into a shareholding entity “Sinochem Corporation”. More than 30,000 employees support Sinochem’s spirit of exploration and innovation, following the vision of “Creating Value, Pursuing Excellence”. Sinochem is dedicated to enhancing corporate value and building an iconic company worldwide.

Sinochem can be found on the Internet at www.sinochem.com.

For more information, please contact:

In China:
Margaret Wang
Manulife-Sinochem, Public Relations
Tel: (86) 21 5359 4770 - 8624
Fax: (86) 21 6362 0189

In Asia:
Juliana Gittler
Manulife Financial, Regional Communications
Tel: (852) 2202 1501  
Fax: (852) 2510 5889