Ho Chi Minh City - Manulife Vietnam has reported robust growth for 2011, with annualized premium equivalent (APE) insurance sales increasing 40 percent over 2010 while fourth quarter 2011 APE sales rose 47 per cent compared to the same quarter the prior year.
Mr. David Wong, Senior Vice President, Manulife ASEAN Operations said, “We are very pleased with our strong business results in Vietnam, being one of the fastest growing life insurers in the market. We also continued with our focus on improving our customer service capabilities and quality. As a result, we were proud to become the first ISO 2008:9001 accredited life insurer in Vietnam in November 2011, which strongly demonstrated our commitment to service and quality.”
In addition to the business growth, Manulife Vietnam’s agency force grew 34 percent year over year, approaching the 12,000 mark by year end 2011. Manulife will continue to focus on this key area to build up an even more professional and competitive sales force for the future.
“Looking into 2012, we will continue to expand our footprint into more cities across the country to provide closer, better services to our clients. I am very glad to announce that these will include our new sales office in Ha Long, which will be opened later this month. In addition, we will continue to look at new product development to meet the changing needs of the customers," shared Mr. Wong.
These outstanding results have recently helped Manulife Vietnam earn the prestigious Golden Dragon Award as “The Best Life Insurance Service in 2011.” With these strong achievements, the Company entered 2012 in a strong financial position and with long-term strategic plans to contribute to the development of the life insurance industry in Vietnam and satisfy its customers with its professional and innovative life insurance products and services.
About Manulife Vietnam
Operating in Vietnam since June 1999, Manulife Vietnam – the first 100 per cent foreign-owned life insurance company licensed in Vietnam – provides financial services to more than 350,000 customers through a network of – almost 12,000 professionally qualified agents. On June 14, 2005, Manulife Vietnam Fund Management Company Limited, whose name was changed to Manulife Asset Management (Vietnam) Company Limited in December 2010, a wholly owned local subsidiary of Manulife Vietnam, was granted license to operate a fund management and portfolio management services company, further expanding Manulife Vietnam’s product offerings for its customers.
As the top player in the market, Manulife Vietnam offers a wide range of innovative insurance products which are supported by the most effective and value-added services on the market today. Whatever stage in life, Manulife Vietnam can help its customers feel financially secure with a life insurance plan that meets their specific needs – whether it’s family protection, education or investment solutions.
Manulife Vietnam remains committed to supporting the communities, in which it conducts business in both educational and charitable activities, donating a total of VND 10 billion since 1999. Some of the organizations and programs to which the Company has donated time and money include: “For your future” scholarship, the Vietnam Association for Promoting and Supporting Educational Development, Terry Fox Foundation, Operation Smile, Health Check and Care programs, Saigon Children’s Charity, National Library for the Blind, the annual Manulife Care and Let’s Help Children Go To School program.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients 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. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$500 billion (US$491 billion) as at December 31, 2011. 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 manulife.com.For more information, please contact: