2010 News Releases

Landmark Kwun Tong building to be named Manulife Financial Centre

Hong Kong - Manulife (International) Limited has increased its lease commitment to a total of 410,000 square feet at the new landmark office building at Kwun Tong 223 in Kowloon East, which is being re-named Manulife Financial Centre.  Located in the heart of this thriving new business district, the building will serve as Manulife’s main headquarters for its Hong Kong operations, with the additional space and facilities needed to support the company’s future business expansion. 

By adding 130,000 square feet to the initial lease it signed with Henderson Land Development Company Limited last July, Manulife and its more than 5,300 agents and staff are set to create a major new office hub in Kwun Tong, which will revitalize this increasingly important commercial district. Manulife will occupy 11 floors in the building and the majority of its agency force began moving into the new headquarters in January of 2010.

Michael Huddart, Executive Vice President and Chief Executive Officer for Manulife in Hong Kong, said: “This new headquarters facility marks yet another important milestone for Manulife as well as for Hong Kong. We are expecting further growth in the coming years, and this strategic move will allow for continued expansion of our agency force and our substantial Hong Kong business.”

Manulife grew its Hong Kong field force to a record number of more than 4,230 at the end of Q3  2009. The company’s business performance in Hong Kong has been consistently solid — its earnings for the third quarter of 2009 increasing by 31 per cent, and for the first nine months of last year, by 23 per cent over the corresponding period in 2008.

The company believes the state-of-the-art Manulife Financial Centre will help provide the impetus for this up-and-coming hub to expand even faster. “The government’s positive development plans for both Kai Tak and Kwun Tong will also add to the rapid growth of the area,” Mr Huddart commented.

Manulife began operating in Hong Kong more than 110 years ago. The company, which is one of the leading financial protection and wealth management providers in the world, celebrated its 10th anniversary as a publicly listed company last September. It was the first international life insurer to have its common shares traded on the Stock Exchange of Hong Kong and is also listed on the Toronto, New York and Philippines stock exchanges.

About Manulife (International) Limited
Manulife (International) Limited is a member of the Manulife Financial group of companies. 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 C$437 billion (approximately HK$ 3155.4billion) 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. 

Media Contact:
Lily Chan/ Helena Lee
Manulife (International) Limited
Tel: (852) 2202 1050 / 2202 1284
Fax: (852) 2234 6875
lily_wk_chan@manulife.com/
helena_lee@manulife.com