2010 Communiqués de presse

Ho Chi Minh City - Manulife Vietnam continued to rank in the top three among all life insurers in Vietnam in Q1 2010, as new business annualized premiums amounted to over VND 88 billion, growing 57% compared with the same period in 2009. Total premiums and deposits rose to VND 308 billion, an increase of 18% against the same period in 2009. Total assets under management grew 14% year-to-date. Agency manpower reached 6,655 at the end of Q1 2010, which is the highest level since Q2 2004, growing 20% year-to-date.

Increased case size, strong agency growth and contributions from alternative channels including bancassurance, general agency, and micro-insurance, were the key sales growth drivers for Q1 2010.

“Our impressive growth in Q1 2010 reflects our continued commitment to providing customers with quality products which meet their financial needs. I am very proud that we continue to maintain the leading position in the top three life insurance companies in Vietnam. We will pursue our aggressive agency growth, pioneering product innovation and effective customer service strategies to continue this sales momentum for the year,” said Carl Gustini, CEO & General Director of Manulife Vietnam. 

Since opening its doors in Vietnam as the first 100 per cent foreign-owned life insurer on June 12, 1999,      Manulife Vietnam has successfully established itself as a company of choice in Vietnam’s thriving insurance market. Operating today through a network of 12 cities and provinces throughout the country, Manulife Vietnam currently serves 300,000 customers through a network of more than 6,600 professional agents and 300 employees.

In eleven years, Manulife Vietnam has grown rapidly to become a world-class company providing a competitive array of financial protection products to Vietnamese customers“The company continues to enjoy the trust of Vietnamese customers who are assured that Manulife is committed to helping them secure their futures by providing a wide product selection and good customer service. Our goal is to help our customers achieve financial security by remaining a reliable, strong, trustworthy and forward-thinking company,” added Mr. Gustini.

About Manulife Vietnam

Manulife Vietnam – the first 100 per cent foreign-owned life insurance company licensed in Vietnam – provides financial services to 300,000 customers through a network of over 6,600 professionally qualified agents. Manulife has been operating in Vietnam since June 1999. On June 14, 2005, Manulife Vietnam Fund Management (MVFM), a wholly owned local subsidiary of Manulife Vietnam, was granted license to operate a fund management and portfolio management services, further expanding Manulife Vietnam’s product offerings for its customers.

Manulife Vietnam remains committed to supporting the communities in which it does business in both educational and charitable activities, donating a total of more than VND 9 billion since 1999.  Some of the organizations and programs to which the Company has donated time and money include: 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 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$446 billion (US$440 billion) as at March 31, 2010.

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.

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