Zhenjiang– 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, has announced the grand opening of its Zhenjiang Sales Office, Jiangsu province. Today’s opening means Manulife-Sinochem now operates in a total of 23 cities across China.
As one of the first foreign life insurance joint ventures to enter the Jiangsu market, Manulife-Sinochem has already established a branch office in Nanjing and sales offices in Wuxi and Changzhou, and today celebrates this latest opening in the Province. In addition, Manulife-Sinochem is planning operations in Suzhou, Nantong & Yangzhou as part of its bid to expand into the whole province.
“Manulife-Sinochem’s business is experiencing solid growth and has already achieved considerable success in the Jiangsu Province. Thanks to the support from government supervisors and local citizens, we are steadily building our presence in this province”, said Mr. Marc Sterling. “With a population of nearly three million, Zhenjiang’s economy is experiencing substantial growth and although insurance penetration remains comparatively low, the market is growing steadily and is ripe for further development. This provides great opportunities for life insurers such as Manulife-Sinochem. With our considerable experience of operating in Jiangsu, we look forward to offering our extensive portfolio of premium insurance and financial products and services to individuals and businesses in Zhenjiang.”
Zhenjiang is a newly developing city with a history of over 3,000 years. Located on the Yangtze River delta, at the intersection of the Yangtze River and Beijing-Hangzhou Grand Canal, it enjoys a convenient geographic location.
“It is very exciting for us to have the chance to contribute to the Zhenjiang economy and we are looking forward to a further developing our business in Jiangsu. We will continue to run its business in a professional way and to help to protect clients’ assets. This is core for our long term development,” commented Mr. James Lin, President of Manulife-Sinochem. “We also look forward to becoming a significant employer in the area, offering rewarding career opportunities to skilled, local professionals. We aim to build a great team who will provide excellent service to local residents.”
Olympic Taekwondo gold medalist and Manulife-Sinochem Olympic ambassador, Luo We, who is busy preparing for the Beijing Olympic Games said: “As an Olympic sponsor, Manulife-Sinochem has given great support to Chinese athletes like me and has really helped to bring the Olympic spirit to people throughout China.. Their mission to be the best at what they do is the same one with which many Olympic athletes identify and I would like to congratulate them on the new achievements they continue to make in China.”
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$410 billion (US$386 billion) as at June 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.
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