2010 News Releases

Tokyo, Japan – Manulife Life Insurance Company (hereinafter “Manulife Japan”) (Head Office: Chofu-City, Tokyo; President and CEO: Craig Bromley) announces its year-to-date (April to December 2009) financial results for the third quarter of FY 2009 ending on December 31, 2009. 

During the April to December 2009 period, Manulife Japan achieved sound earnings growth with solid improvement in every major profit-related indicator, reflecting a continuous upturn in stock markets as well as other favorable factors including strong sales of individual insurance. Basic Earnings, an indicator showing the earnings performance of the Company’s core insurance business, rose to 7.0 billion yen, higher than the same period in the prior year, while Operating Income and Net Income for the period were also higher than the same period in the prior year, growing to 12.4 billion yen and 11.5 billion yen respectively. 

With regards to sales during the period, sales of individual insurance, centered on the MGA
channel ^*[1], maintained strong momentum. Annualized new business premium for individual insurance was 21.9 billion yen, an increase of 21.1% compared to the same period in the prior year. Although total combined annualized new business premium for individual insurance and individual annuity insurance during the term was 30.4 billion yen, less than the same period in the previous year due to lower sales of variable annuity insurance, total combined annualized in-force premium for individual insurance and individual annuity insurance exhibited a steady increase, rising to 259.6 billion yen, up 5.8% compared to the end of the preceding fiscal year.     

In spite of the continuing uncertain market environment, Manulife Japan maintained its robust financial strength. The Company’s Solvency Margin Ratio as of December 31, 2009 stood at 1226.6%, up 294.6 points from the end of March 2009. As of the end of December 2009, the Company’s total assets reached 1,921.8 billion yen. 

Craig Bromley, President and CEO of Manulife Japan, made the following statement regarding the financial results for the nine-month period:

“Manulife Japan continued to focus on strategic diversification of its sales channels and development of cutting-edge products that meet customers’ needs, and these efforts produced fruitful results. Although there were some signs of recovery in the wake of the global financial crisis, the difficult market environment still remains, so we will continue to take a progressive approach

with the aim of earning the trust of more customers, through maintaining our robust financial strength and developing innovative products that satisfy customer needs.” 

About Manulife

Manulife Life Insurance Company (“Manulife Japan”) is a member of the Manulife Financial group.

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$439.6 billion (US$420.0 billion) as of December 31, 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. Manulife Japan can be found on the Internet at www.manulife.co.jp  

Media Contact:

Saeko Yoshioka
Communications Department
Manulife Life Insurance Company
Tel: 042-442-7180

*[1] The MGA (Managing General Agents) channel is named after the large-scale, independent agencies in the North American market. Manulife Japan established its MGA Department in February 2007, and is taking a proactive approach to realizing a new type of agency business in Japan, with a focus on the high net worth market segment, including business entrepreneurs, business owners, and other persons of means.