Public disclosure

Company Profile & Other General Information

Manulife Financial Corporation is a Canada-based financial services group with principal operations in Asia, Canada and the United States. For over 125 years, we have been providing clients strong, reliable, trustworthy and forward-thinking solutions for their financial decisions. Established since 1899, the Singapore arm of Manulife Financial Corporation, Manulife Singapore, distributes a range of protection and investment products through multiple channels providing one-stop financial solutions to fulfil clients' financial needs at different life stages.

Corporate Governance Framework

Corporate Governance Framework is a framework of rules, structures and practices by which the board of directors ensures accountability, fairness, and transparency in a company's relationship with all of its stakeholders and by which corporations are directed and controlled. At Manulife Singapore, we believe that good governance is critical to our ability to safeguard the long-term interests of shareholders, and earn the continued trust and confidence of our clients and policyholders. Manulife Singapore is in compliance with the Corporate Governance requirements in Singapore. You may find more information about our corporate governance under 'Corporate Governance' on our website.

Enterprise Risk Management (ERM) Framework

The ERM Framework can be described as a risk-based approach to managing an enterprise. Manulife Singapore has established an enterprise risk management framework that governs all risk taking and risk management activities. This framework is a foundational, holistic, compliant, integrated, and adaptive approach to understanding and managing risk while balancing the need to remain competitive. It is based on five inter-related components: Risk Taxonomy, Risk Appetite, Risk Governance, Risk Process, and Risk Culture to manage risks to which the company is exposed. It is communicated through risk policies and standards which ensure consistent design and execution of strategies across the organization. The Manulife Singapore Board of Directors is ultimately accountable for the oversight of risk management.

Material Insurance Risk Exposures

Insurance risk is the risk of loss due to actual experience emerging differently than assumed when a product was designed and priced with respect to mortality and morbidity claims, policyholder behaviour and expenses. The product design and pricing risk is managed by the Company's Appointed Actuary, Chief Product Officer, Pricing Officer, Chief Risk Officer and Manulife Financial Regional Office to ensure the level of risk borne by the Company is within acceptable levels and is consistent with its targeted profile. The Company limits its exposure to loss within insurance operations through pariticipation in reinsurance agreements.

Determination of Technical Provisions

Determination of technical provisions, including future cash flow assumptions, choice of discount rates and methodology, affect the reported contingent liabilities at the end of the reporting period. Uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future. You may find quantitative and qualitative information about the rationale and methodology on which Manulife Singapore determine its technical provisions in our audited Financial Statement.

Capital Adequacy

Manulife Singapore has met the minimum fund solvency requirements for our life insurance funds and the minimum capital adequacy requirement prescribed by the Monetary Authority of Singapore. You may find more quantitative and qualitative information about capital adequacy including policies and processes for managing capital and assessment of our capital adequacy in our audited Financial Statement.

Investment Objectives

The Manulife Singapore Board of Directors has constituted an Investment Committee that oversees the investments under the shareholders', life, offshore and investment-linked funds. The Company's investment objective is to optimise returns considering capital requirement, investment risk tolerance and risk exposure related to long-term contractual minimum return guarantees. You may find more quantitative and qualitative information about our financial instruments and investment objectives in our audited Financial Statement.

Financial Performance

You may find quantitative and qualitative information on our financial performance in our audited Financial Statement.