2009 News Releases

Manulife Philippines CEO Carl Gustini rings PSE opening bell today

Manila – Manulife Financial Corporation (MFC) this week marks its 10^th year as a publicly listed company – having grown into one of the world’s top insurance companies since its successful demutualization, or conversion from a mutual life insurance company owned by policyholders to a publicly-traded company owned by shareholders, in 1999.

In simple ceremonies at the Makati trading floor of the Philippine Stock Exchange (PSE), Manulife Philippines President and CEO Carl Gustini will sound the PSE opening bell at 9:30 a.m. today, marking Manulife’s first decade as a publicly listed company. Manulife Philippines is a wholly-owned domestic subsidiary of MFC.

The ceremony will be attended by Manulife Philippines executives and honored guests including Canadian Ambassador Robert Desjardins.

“Manulife Philippines was a key contributor to the success of MFC’s demutualization in 1999,” said Gustini. “In turn, Manulife’s listing in the PSE since then has benefited the company’s overall visibility in the local insurance marketplace, reinforcing our commitment to our customers, shareholders, agents, employees and the local regulatory bodies that have been part of our business success.”

During its 10 years as a public company, Manulife worldwide saw its market value, funds under management and premiums & deposits quadruple and its employee and agent numbers double.

“This is an opportunity to celebrate our history as we look forward to the future. Our decision to become a publicly traded company in 1999 helped Manulife grow from a small Canadian mutual life insurer to become one of the largest and top-rated life insurance companies in the world today,” said Donald Guloien, President and Chief Executive Officer, Manulife Financial Corporation.

Manulife Financial Corporation, the first foreign company to be listed in the PSE, began trading shares in the local bourse on September 27, 1999.  It currently trades as ‘MFC’ on the Toronto Stock Exchange (TSX), New York Stock Exchange (NYSE) and the Philippine Stock Exchange (PSE), and under ‘945’ on the Stock Exchange of Hong Kong (SEHK). Manulife is presently the largest PSE-listed company in terms of market capitalization.

“We have witnessed incredible change in this last decade and through it all, Manulife Financial kept moving ahead, outpacing so many of our peers as we grew – our success fueled by our leading distribution capabilities, product excellence and innovation across continents, things that demutualization helped advance,” added Guloien.

Backed by over a century of experience in premier financial services, Manulife Financial has built a reputation as a global leader in insurance and wealth management products.  Founded in 1887 in Canada, Manulife was granted a license to engage in business in the Philippines in 1907 and now operates in a total of 22 countries and territories worldwide.

“Today, we are a truly global organization whose reputation for strength and reliability endures.  I am confident that we will continue our industry leadership into a bright future,” concluded Guloien. 

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$421 billion (US$362 billion) as at June 30, 2009.

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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Media Contact:
Lils Liwanag
Manulife Philippines
884-5416
lils_liwanag@manulife.com

Shyla Reyes                                                     
M2.0 Communications                                        
332-1031/476-6643 local 111                             
shyla.reyes@m2comms.com