Manulife strengthens presence in Visayas

MANILA, Philippines — Manufacturers Life Insurance (Philippines) Co. (Manulife) has strengthened its presence in the Visayas region by establishing its fourth branch in Cebu City.

In a statement, Manulife Philippines said it recently opened a new office in Kasambangan, Cebu, to give clients in the area easier access to the company’s services.

This increases the company’s network to more than 50 branches nationwide.

Manulife  opened its doors for business in the Philippines in 1907.

In 2017, Manulife Philippines maintained its spot as the sixth largest life insurance company in the Philippines with a total premium income of P17.7 billion. This was 6.4 percent higher than the P16.63 billion recorded in 2016.

It also took the fourth spot in the life insurance sector in terms of net income, reporting P3.07 billion in 2017.

 The company’s net worth reached P14.07 billion as of the end of December last year, while paid-up capital settled at P930 million. Its assets stood at  P98.3 billion.

Manulife’s partnership with China Banking Corp. called Manulife China Bank Life Assurance Corp. provides a wide range of insurance products and services to China Bank and China Bank Savings customers.

It also introduced last year its asset management arm, the Manulife Asset Management and Trust Corp.

Manulife Financial Corp., its parent company based in Canada, launched Manulife IT Delivery Center Asia, a new company created to deliver and maintain digital solutions and provide delivery and quality assurance to Manulife customers.

The company aims to support Manulife in its thrust to provide fast and efficient services to its clients across Asia.