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2013 News Releases

For Immediate Release

February 14, 2013

Manulife Japan Announces FY2012 Third Quarter Year-to-Date Results

Tokyo Manulife Life Insurance Company (“Manulife Japan”; Head Office: Chofu City, Tokyo; President and CEO: Gavin Robinson) announces its year-to-date (April to December 2012) financial results for the third quarter of FY 2012 which ended on December 31, 2012.

During the period in review, Manulife Japan continued to focus on diversifying its product offerings and distribution channels, including the launch of medical insurance product ”Kodawari Medical Insurance” and variable insurance product “Mirai Step” in November 2012. As a result, for the nine-month period from April 2012 to December 2012, total annualized new business premiums for individual insurance and individual annuity insurance combined reached 44.8 billion yen, an increase of 18.9% from the same period in the previous year. This growth was driven mainly by robust sales of new increasing term insurance products. Reflecting the steady rise in new business sales, total annualized in-force premiums also showed a steady increase to 351.8 billion yen, up 7.8% compared to the end of the prior fiscal year.

In terms of profit-related indicators, Manulife Japan posted a gain of 100 million yen in Basic Earnings for the nine-month period from April 2012 to December 2012. This result reflected a combination of factors, including recovering stock markets, a chargeback on liability reserves related to the guaranteed minimum for individual variable annuity insurance, and increased new business expenses attributable to the strong sales. Capital Income amounted to 5.1 billion yen, due to gains on the sales of government bonds, reflecting measures to increase the proportion of bonds for liability reserves that are used to mitigate the impact of changes in interest rates. Operating Income and Net Income after corporate tax expenses for the period in review were 3.5 billion yen and 1.7 billion yen, respectively. The Company’s solvency margin ratio stood at 1,057.7% as of December 31, 2012 as Manulife Japan continued to maintain its solid financial strength.

Gavin Robinson, President and CEO of Manulife Japan, made the following statement regarding the financial results for the nine-month period from April 2012 to December 2012. “During the period, Manulife Japan saw good progress in sales and steady business growth. Going forward, Manulife will continue its emphasis on strengthening its three distribution channels – Manulife’s own sales agents, independent agents, and partner financial institutions - to offer top-quality products and services to more customers.”

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

Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look 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. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$532 billion (US$535 billion) as at December 31, 2012. 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. Manulife Japan can be found on the Internet at www.manulife.co.jp.

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