HO CHI MINH CITY – Manulife Vietnam, a top three life insurer in the market, today reported strong first quarter insurance sales growth with 34 percent increase in annualized premium equivalent (APE) over the same quarter last year.
Mr. Chung Ba Phuong, CEO and General Director of Manulife Vietnam said: “Continuing the momentum of success from 2011, we have entered 2012 with a powerful strategic ambition to be a key growth engine for Manulife in the region. The results have proved the effectiveness of our consistent development strategies. We are pleased that our efforts to develop a diversified product portfolio and offer international standards of services have contributed to this upward trend."
In addition to the business growth, the agency force expanded 31 per cent over the same period last year 2011. “We heavily invest in a world-class professional agency force in order to provide our customers with a totally satisfying experience. Our network of nearly 12,000 professionally qualified agents is an absolutely critical factor to our success”, shared Mr. Phuong.
Also in this first quarter, Manulife Vietnam opened a new sales office in Ha Long City, Quang Ninh Province, increasing its network to 17 offices in 13 cities nation-wide. This business expansion, as a key part of the growth strategy, has demonstrated Manulife’s long-term commitment to the Vietnamese market.
With these strong achievements, Manulife Vietnam will continue towards its vision to be the most professional financial services organization in Vietnam. Manulife offers products for customers to choose at any stage of life to meet their specific needs, from seeking financial plans to protecting them and their family against risks, to saving to achieve a planned education fund for their children or investing to diversify their financial portfolio.
About Manulife Vietnam
Operating in Vietnam since June 1999, Manulife Vietnam – the first 100 per cent foreign-owned life insurance company licensed in Vietnam – provides financial services to nearly 300,000 customers through a network of nearly 12,000 professionally qualified agents. On June 14, 2005, Manulife Vietnam Fund Management Company Limited, whose name was changed to Manulife Asset Management (Vietnam) Company Limited in December 2010, a wholly owned local subsidiary of Manulife Vietnam, was granted license to operate a fund management and portfolio management services company, further expanding Manulife Vietnam’s product offerings for its customers.
As the top player in the market, Manulife Vietnam offers a wide range of innovative insurance products which are supported by the most effective and value-added services on the market today. Whatever stage in life, Manulife Vietnam can help its customers feel financially secure with a life insurance plan that meets their specific needs – whether it’s family protection, education or investment solutions.
Manulife Vietnam remains committed to supporting the communities, in which it conducts business in both educational and charitable activities, donating more than VND 10 billion since 1999. Some of the organizations and programs to which the Company has donated time and money include: “For your future” scholarship, Terry Fox Foundation, Run for Children, the Vietnam Association for Promoting and Supporting Educational Development, Operation Smile, Health Check and Care programs, Saigon Children’s Charity, National Library for the Blind, the annual Manulife Care and Let’s Help Children Go To School program.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$512 billion (US$512 billion) as at March 31, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
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 manulife.com.
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