The year 2010 stood out as one of Manulife's best-ever in Hong Kong and laid down a strong foundation for the year 2011.
"We recorded many significant achievements, underscored by strong business growth, record insurance sales and agent numbers, and an expanded independent distribution network in 2010," noted Michael Huddart, Manulife's Executive Vice President and Chief Executive Officer in Hong Kong.
He went on: "In late 2010, we completed the significant move of our Hong Kong operations' headquarters to the iconic Manulife Financial Centre in Kowloon East. This forward-thinking relocation is integral to Manulife's business-development strategy for Hong Kong, affirming the company's commitment to the territory, as well as providing capacity for further growth in future."
Manulife's agency force reached another high record with more than 4,700 professional agents at the end of September 2011, and has broadened its independent-distribution channels by adding Bank of Tokyo- Mitsubishi UFJ as a new bancassurance partner. In July 2011, Manulife also renewed and extended its bancassurance agreement with CITIC Bank International for a further 10-year period.
Expanded distribution capacity in 2010 helped boost the company's individual insurance sales to a record annual figure, while the two retail funds that the company offered with its Qualified Foreign Institutional Investor quota received a tremendous response from the market and sold out almost as soon as they became available.
Manulife also firmly maintain its second-place position in the Mandatory Provident Fund (MPF) market. Our share of assets under management increased to 17.6 per cent as at the end of June 2011.
In October 2011, Manulife kickstarted a significant, multi-media advertising campaign in Hong Kong to present forward-thinking and consumer-oriented messaging. Entitled “For your future”, the campaign is designed to highlight how Manulife’s unparalleled experience and portfolio provide personalized financial solutions that help consumers fulfil their goals in life.