Manulife's "professionalism, customer service and innovation" honored at
the Asia Insurance Review Awards 2007
TSX/NYSE/PSE: MFC; SEHK: 0945
HONG KONG, Nov. 12 /CNW/ - Manulife has been named Life Insurance Company
of the Year at the Asia Insurance Review Awards 2007. In naming Manulife as
winners at the award ceremony on November 5, the judges cited the Company's
"continued commitment to professionalism, excellent customer service and
innovation with first-to-market products."
Manulife's Senior Executive Vice President and General Manager for Asia,
Mr. Robert Cook, said: "We are delighted to have been recognized with such a
prestigious industry accolade. This award is testament to Manulife's core
values: our focus on professional standards, offering real value to our
customers, ensuring we conduct our business to the highest standards of
integrity, our demonstrated financial strength and our determination to be the
employer of choice."
Manulife now operates in ten countries and territories in Asia with a
25,000-strong agency force and an expanded distribution network of 50
distribution agreements with banks and securities dealers - all serving nearly
5 million Manulife customers in the region.
Mr. Cook continued: "Manulife's business has celebrated significant
achievements in Asia in recent times, we have opened new branches and offices,
trained and supported an expanding agency force and have led the industry with
pioneering products and services. In addition, we have underpinned our
commitment to professionalism and excellent customer service with the
provision of new agency tools, forged new business partnerships and opened up
new distribution channels. Overall, Manulife has deepened its footprint in
Asia with exciting developments that, we believe, will contribute
significantly to the future shape of Asia's life insurance industry."
The last couple of years have heralded some significant milestones for
Manulife in Asia. Manulife Philippines marked its centenary this year, while
the Company's Hong Kong offices toasted 110 years of operations. Meanwhile in
China, Manulife-Sinochem, opened for business in its 23rd city, more than any
other foreign joint venture life insurance company - a significant achievement
as the business starts its second decade in Mainland China.
In addition to the growth in Manulife's agency force, there have been
significant developments in Manulife's bancassurance partnerships. The Company
forged an important strategic alliance with China Bank in the Philippines,
OCBC Bank launched a Manulife whole life plan in Malaysia to meet education
needs and in Taiwan, Manulife successfully established three new banking
partners: Taishin Bank, Ji Shen Bank, and China Trust.
In 2006, Manulife was awarded the coveted AAA rating from Standard &
Poor's in recognition of our financial and operation strength. The upgrade to
triple A status, the highest of the rating categories at Standard & Poor's,
makes the Company one of only two publicly traded life insurance companies in
the world to boast this accolade. According to Standard & Poor's, the AAA
rating reflects Manulife's leading and well diversified business positions not
just in North America but also in Hong Kong and other countries in Asia
Pacific; the high quality and consistent operating performance; very strong
and well diversified investment portfolio; its extremely strong capital
adequacy position; and excellent enterprise risk management framework.
Also singled out for special mention by the judges was the launch of
Manulife's first-of-its-kind variable annuity product that offers guaranteed
income for life. Launched this year in Hong Kong, Singapore and Taiwan, MSIP
builds on Manulife's existing variable annuity expertise in North America and
Japan and is already revolutionizing how customers think about managing their
The Asia Insurance Review awards, now in their 11th year, are designed to
recognize and salute excellence in the insurance industry. Entrants for the
Life Insurance Company of the Year award are judged on their in-depth
knowledge and understanding of Asian markets, their responsiveness to customer
and intermediary needs and overall professional standards. Companies must also
demonstrate industry leadership, innovation, customer service excellence as
well as sound financial management.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group
serving millions of customers in 19 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$399 billion
(US$398 billion) as at September 30, 2007.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '0945' on the SEHK. Manulife Financial can be found on the Internet
For further information:
For further information: Media inquiries: Patti Vernon, (416) 852-8248,