Ho Chi Minh City - Manulife Vietnam, one of the Vietnam's top 3 insurers , reported annualized premium equivalent (APE) insurance sales of VND 1.68 trillion in 2015, up 69 percent from the year before. Total premiums and deposits rose 39 percent year-on-year to VND 4.51 trillion, while total assets under management increased by 24 percent for the 12-month period to VND 13.2 trillion.

The company reached out to more customers as it increased the number of its agents by 15% year on year to 20,100 and opened 9 new sales offices, expanding its offices across the country to 45.

'2015 was a strong year for Manulife in Vietnam with a number of highlights including the start of a 10-year exclusive partnership with Saigon Commercial Bank, and the launch of Direct Marketing and Telemarketing. We made life easier for customers through solutions such as the 3-in-1 family financial solution 'Manulife - My Beloved Family,' said Paul Nguyen, Chief Executive Officer, Manulife Vietnam.

'Going forward, we will continue to help our customers with their major financial decisions by offering innovative holistic life, health and wealth solutions through our diversified distribution channels.'

In 2015 Manulife Vietnam strengthened its local basis reserves for policy liabilities by VND 600 billion in response to lower prevailing market interest rates. Excluding the effect of this non-recurring reserve adjustment, the net income of the company would have been positive and double compared to 2014.

Manulife also injected VND 175 billion of capital into its Vietnam operations in Q4 2015, a sign of the company's commitment to the country's insurance market.

About Manulife Vietnam
In June 1999, Manulife Vietnam became the first foreign-owned life insurance company licensed in the country. Headquartered at Manulife Plaza, District 7, Ho Chi Minh City, Manulife Vietnam has a nationwide network of 45 offices across 32 major cities and provinces (as of December 2015).

On 14 June 2005, Manulife Asset Management (Vietnam) Company Limited ('MAMV'), a wholly owned local subsidiary of Manulife Vietnam, was granted license to operate fund management and portfolio management services, further expanding Manulife Vietnam's product offering for its customers.

Throughout its 16 years of operations in Vietnam, Manulife has successfully built a strong reputation for its high quality products and professional services, maintaining its position as a top player in the market. The Company offers a wide range of innovative insurance products, including traditional life, health, education, investment and pension solutions. For more detailed information, please access www.manulife.com.vn

For more information, please contact:

In Vietnam:
(Ms.) Dao Phong Lan
Head of PR & Communication
Manulife (Vietnam) Limited
Tel: (84-8) 5416 6888
Cel: (84) 90 2525 783
Fax: (84-8) 5416 1818
Lan_Dao_Phong@manulife.com

In Asia:
(Mr.) Jason Benham
Regional Communications
Tel: (852) 2510 5822
Fax: (852) 2510 5889
jason_benham@manulife.com

By APE and Total Premiums. Source: The Agency for Insurance Supervisory and Management (Ministry of Finance)

Manulife Financial Corporation published this content on 19 April 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 May 2016 00:01:26 UTC.

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