Wenzhou– Manulife-Sinochem Life Insurance Co. Ltd. (MSL), a subsidiary of Canada-based Manulife Financial and the Official Life Insurance Partner of the Beijing 2008 Olympic Games, is today holding a grand opening ceremony for its Wenzhou Sales Office, Zhejiang province.
“Manulife-Sinochem’s business is experiencing solid growth and has already achieved considerable success in the Zhejiang Province. Thanks to the support from government supervisors and local citizens, we are steadily building our presence in this province,” said Mr. Marc Sterling, Chairman of Manulife-Sinochem.
“Wenzhou’s is becoming a prominent city in Zhejiang, and in China as a whole and establishing operations in the city is an important part of Manulife-Sinochem’s expansions in China. With our considerable experience of operating in Zhejiang, we look forward to offering our extensive portfolio of quality insurance and financial products and services to individuals and organizations in Wenzhou,” continued Mr. Sterling.
As a result of being an early adopter of economic reforms in China, Wenzhou’s economy is developing quickly. Considerable foreign investment is flowing into Wenzhou, and the city is rapidly becoming a modern commercial seaport with advanced scientific and technological capabilities and a growing middle class population. In addition, the active economy is driving a prosperous local insurance market and provides considerable opportunities for foreign life insurance companies such as Manulife-Sinochem.
“It is very exciting for us to have the chance to contribute to the Wenzhou economy. We will continue to run our business in a professional way and to provide excellent service to our customers. This is core for our long term development,” commented Mr. James Lin, President of Manulife-Sinochem. ”
Manulife-Sinochem is the Official Life Insurance Partner of the Beijing 2008 Olympic Games. As the Olympic Games approach, Manulife-Sinochem will be introducing numerous initiatives to build its brand in Wenzhou and to bring excellent products and customer service to its local clients.
Manulife-Sinochem is a joint venture company between Manulife (International) Limited (51 per cent) and China Foreign Economic and Trade Trust & Investment Company, a member of the Sinochem group (49 per cent).
China Foreign Economic and Trade Trust & Investment Company (FOTIC) is a core enterprise of Sinochem. Sinochem, founded in 1950, is one of the biggest foreign trading companies in China. Since 1989, Sinochem has topped the list of the country’s 500 leading foreign trading companies and has also been recognized as a Fortune 500 company for 17 consecutive years.
Sinochem can be found on the Internet at www.sinochem.com
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 at www.manulife.com.
- 30 -
For more information, please contact:
Phone: (86-21) 5049-2288 x5495
Mobile: (86) 1350 1919 675
Phone: (852) 2202 1272
Mobile: (852) 9027 5283