2009 News Releases

Hanoi - Manulife Vietnam today was presented the “Outstanding Achievement Award” by the Ministry of Finance at the ceremony at My Dinh National Convention Center in Hanoi. The accolade is given to recognize Manulife Vietnam for its outstanding achievements and significant contribution to the insurance market development in Vietnam in the past ten years.

“We are very proud to receive this prestigious award, which reinforces our leading position in Vietnam. Our customers can rest assured that we are here to stay and we are committed to bringing customers’ financial dreams to life,“ said David Wong, CEO and General Director of Manulife Vietnam.

Since opening its doors in Vietnam as the first 100% foreign-owned life insurer on June 12, 1999, Manulife has demonstrated considerable success in growing its business in Vietnam and has become a major industry player here. Manulife Vietnam has been in the top three life insurers in the market for three consecutive years, since 2007 and has successfully established itself as a company of choice in Vietnam’s thriving insurance market. Being known as a product innovator, Manulife has committed to providing world-class financial protection and wealth management products to meet the diversified needs of customers as well as contributing to the development of the life insurance market in Vietnam.

Manulife is one of only two companies to introduce unit-linked products to the market, Maxx Phuc Loc Thinh Vuong, an investment solution with the added bonus of insurance protection. On the fund side, Manulife is one of the three companies in Vietnam that offers mutual funds to local investors. In July 2009, Manulife Vietnam launched Phuc An Binh, a unique medical care solution to meet customers’ increasing needs for better healthcare. 

Manulife also actively expanded its business in sync with market needs, first creating alternative distribution channels such as joint-ventures and partnerships with other financial institutions such as ACB and Techcombank, and through a general agency model in Ban Me Thuot City. In September 2009, Manulife Vietnam pioneered the market with a new micro-insurance product for low income people in rural areas. Manulife Vietnam and the Vietnam’s Women Union signed a long-term strategic partnership agreement to distribute micro-insurance with the aim of helping Vietnam Women’s Union’s low-income members access life and medical insurance coverage at an affordable costs. This micro-insurance program has been piloted in Hai Phong since September and the initial response is encouraging with close to 10,000 Women Union members signing up for micro-insurance so far.

“We are committed to staying at the forefront of the market,” Mr. Wong continued. ”This way, we are always able to provide prompt and apt solutions to customers for whom we deeply care. Our care and concern also extends to the community at large. We are dedicated to giving back to the local community, as seen by our donation of more than VND 8 billion to support the local community and our massive involvement in a variety of sponsorships and educational and charitable activities such as Operation Smile Vietnam, Manulife Care Foundation and the Terry Fox Run. Over the past decade we have been proud to bring dreams to life for so many people in Vietnam.”

About Manulife Vietnam
Manulife Vietnam - the first 100 per cent foreign-owned life insurance company licensed in Vietnam - provides financial services to more than 300,000 customers through a network of over 5,500 professionally qualified agents. Manulife has been operating in Vietnam since June 1999. On June 14, 2005, Manulife Vietnam Fund Management (MVFM), a wholly owned local subsidiary of Manulife Vietnam, was granted license to operate a fund management and portfolio management services, further expanding Manulife Vietnam’s product offerings for its customers.

Manulife Vietnam remains committed to supporting the communities, in which it conducts business in both educational and charitable activities, donating a total of more than VND 8 billion since 1999.  Some of the organizations and programs to which the Company has donated time and money include: the Vietnam Association for Promoting and Supporting Educational Development, Terry Fox Foundation, 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 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$437 billion (US$407 billion) as at September 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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