Hancock boosts PSA Annual rites

For the first time in the 53-year history of the Philippine Sportswriters Association (PSA), the top athletes in its annual awards will receive cash incentives after John Hancock Life Insurance entered into a long-term agreement with the country’s oldest sports organization.

As part of its dedication in helping Philippine sport, president and CEO Michael Plaxton of John Hancock Life Insurance Corporation, the Philippine subsidiary of Boston-based company announced the good news yesterday in the weekly PSA Forum at the Holiday Inn.

"We’re delighted to make this long-term commitment to sports excellence in the country. It also gives us a chance to recognize outstanding Filipino athletes," said Plaxton.

Aside from the sponsoring the top PSA male and female Athletes of the Year, John Hancock, the worldwide Olympic sponsor, will also be the main backer of the annual Subic Bay International Triathlon.

John Hancock, which began sponsoring the Olympics in 1993, will provide prize money and medals for the Elite division recognizing the Filipino men’s and women’s champions and four runner-ups — a total of six awards — to be held on June 1 at the Subic Bay Freeport.

In 1995, John Hancock launched the company’s Athlete of the Games Program in Asia. The program has so far awarded cash and medals to 207 Asian athletes for their outstanding performances at major international events.

John Hancock, one of the world’s largest life insurance companies with $127.6 billion assets under management as of Dec. 31, will extend its Olympic sponsorship through the 2008 Games in Beijing.