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| Manulife's Vision and Values | Manulife Brand |
| Hong Kong's first listed global insurer celebrates a remarkable decade | Manulife in Hong Kong | Manulife Hong Kong Management Team | A Remarkable Year 2009 |
| Individual Financial Products | Employee Benefits | Investment Funds | Professional Advisors Team | Independent Distribution |
| Professionalism | Manulife Annual Agency Awards 2009 | Awards and Accolades | Corporate Citizenship |
Manulife's Vision and Values Our Vision To be the most professional financial services organization in the world, providing strong, reliable, trustworthy and forward-thinking solutions for our clients' most significant financial decisions. Our Values Professionalism We will be recognized as having professional standards. Our employees and agents will possess superior knowledge and skills for the benefit of our customers. Real value to customers We are here to satisfy our customers. By providing the highest quality products, services, advice and sustainable value, we will ensure our customers receive excellent solutions to meet their individual needs. Integrity The highest levels of honesty and fairness characterize all of our dealings. We develop trust by maintaining the highest ethical practices. Demonstrated financial strength Our customers depend on us to be here in the future to meet our financial promises. We earn this faith by maintaining uncompromised claims paying ability, a healthy earnings stream, and superior investment performance results, consistent with a prudent investment management philosophy. Employer of choice Our employees will determine our future success. In order to attract and retain the best and brightest employees, we will invest in the development of our human resources and reward superior performance. Manulife Brand Strong There is strength in numbers, goes the old saying. We have more than 24,000 employees, millions of customers in 22 countries globally. In Hong Kong, we serve one-fifth of the population. Strong by any reckoning. Reliable A global company in Hong Kong for more than a century, a publicly listed one for over a decade. Financial advisors to look after your needs through every life stage. That's what you call reliable. Trustworthy Trust is more than a matter of faith — it is earned by consistently living up to expectations. One of the reasons why we win so many awards is that the public and our industry peers have come to regard us as wholly trustworthy. Forward-thinking We know you work hard for different goals in different stages of your life. Being forward-thinking means anticipating every possibility and planning ahead for your dreams and needs. Hong Kong's first listed global insurer celebrates a remarkable decade A milestone for Manulife Financial in 2009 was the celebration of its 10th anniversary as a listed company. Manulife Financial became a public company since its listings on the stock exchanges of Toronto, New York, Hong Kong and the Philippines in 1999. Manulife's shares commenced trading on the Stock Exchange of Hong Kong (stock code: 945) on September 27, 1999 – making it the first international life insurer to list in the territory. To commemorate the special occasion, the company's participating policyholders received demutualization benefits in the form of stocks or cash during the Initial Public Offering. In the intervening decade, Manulife Hong Kong has witnessed unprecedented growth, with premiums and deposits increasing by more than 300 per cent, assets under management surging more than 500 per cent and the number of employees almost doubling. Its agency force has also mushroomed – from 2,280 in 1999 to a record high of over 4,440 by the end of 2009. To commemorate these 10 years of unparalleled success as a public company – and in the expectation of scaling even greater heights – Manulife Financial announced that it would plant 75,000 trees around the world, symbolizing both its deep roots and its future growth potential. Manulife in Hong Kong Canadian-based Manulife Financial started its business in Hong Kong in 1897. Now operating under three wholly owned subsidiaries – Manulife (International) Limited, Manulife Asset Management (Hong Kong) Limited and Manulife Provident Funds Trust Company Limited – Manulife provides individuals and corporations in Hong Kong with a diversified range of financial protection and wealth-management products and solutions. Through its comprehensive suite of individual insurance, investment-linked insurance, employee life and health insurance, provident funds and mutual-fund products, plus the first-class personalized financial-planning service of its award-winning agency force and other distribution partners, customers are assured of ultimate peace of mind and quality of life by having their protection and wealth-management needs met all the different stages of their life. The parent company Manulife Financial is a leading Canadian-based financial-services group catering for millions of customers in 22 countries and territories worldwide. It is one of the largest life-insurers in the world and, as at March 31, 2010, it had funds under management of C$446 billion (HK$3,413.4 billion). It is listed on the stock exchanges of Toronto, New York, Hong Kong and the Philippines. A coveted global financial stock among local investors, Manulife Financial Corporation was the first international life-insurer to list on the Hong Kong Stock Exchange, in 1999. Since then, Manulife's business in Hong Kong has witnessed unprecedented growth in the last decade, with premiums & deposits and assets under management surging more than 300 per cent and 500 per cent respectively. In recent years, Manulife has enhanced its business base by expanding its independent distribution network and now brings innovative living benefits and unique investment-fund products that address customers' changing and future wealth-management needs to the widest possible cross-section of society. Manulife also operates in Macau and is the majority shareholder in China's first joint-venture life-insurance company, Manulife-Sinochem Life Insurance Co. Ltd. Manulife Hong Kong Management Team Michael Huddart Nigel Ke Emil Lee George Chew Myles Morin Alan Merten* Kareen Chow Amy So Ellen Mok
* Chief Executive Officer and President Director, Manulife Indonesia, effective June 2010. A Remarkable Year 2009 The year 2009 will be remembered as one of remarkable achievement by Manulife in Hong Kong. Withstanding an unprecedentedly challenging external environment, we saw solid progress throughout the year, with strong earnings, continuous growth in sales from insurance and wealth-management businesses, and record-high agent numbers. Our pension assets under management hit the HK$60 billion mark, and we have now captured more than one-sixth of the pension market in Hong Kong. Manulife had the fastest-growing agency force in Hong Kong in 2009, ending the year with more than 4,44 0 top-notch insurance and financial-planning professionals. We have also expanded our independent-distribution platform, adding new partners and deepening existing alliances with leading banks, brokers and independent financial advisors. And we partnered with a private bank the Canadian Imperial Bank of Commerce to tap the high-net-worth market. As part of Manulife's growth plan in Hong Kong, we have made a forward-thinking move and signed an anchor tenant lease agreement with Henderson Land Development Company for office space at Kwun Tong 223. We have renamed this new home to our Hong Kong operations as Manulife Financial Centre. In 2009, Manulife Financial Corporation celebrated its 10th anniversary as a publicly listed company in Toronto, New York, Hong Kong and the Philippines. In Hong Kong, Manulife has enjoyed more than 110 years of notable business success, and since we became the first insurer to list on the Hong Kong Stock Exchange in 1999, we have seen exponential growth in the territory over the last decade. Looking forward, Manulife Hong Kong will continue its focus on pursuing growth in financial-protection, MPF and wealth-management businesses, and building its professional agency force and independent distribution platform. With our demonstrated financial strength, trusted brand name, customer-oriented products and services, strengthened distribution capabilities and focused growth strategies, plus the backing of our strong parent company Manulife Financial, Manulife Hong Kong is well-positioned to continue to expand its businesses and deliver long-term value to its key stakeholders for the future. Individual Financial Products Individual Insurance Protection is always the foundation of financial wellbeing, especially in times of economic adversity. Hong Kong's economy remained in the doldrums throughout the first three quarters of 2009, slowly regaining stability towards the end of the year. So in response to a strong market demand for guarantees during this period of financial uncertainty, we launched a range of individual insurance products that covered different customers' needs on medical funding, accident protection and asset accumulation. "Follow Me" is a first-to-market medical reserve that offers guaranteed premiums, a guaranteed automatic increase in benefit limits and other guaranteed options designed to give customers full control over their medical funding. This medical reserve is available in two versions – "Follow Me ALWAYS" and "Follow Me TOMORROW" – and reimburses hospital expenses well into retirement. An advertising campaign covering printed media, transport systems and radio channels was launched to bring this innovative product to public notice. Another first is "Take Care", a comprehensive personal-accident insurance with one premium rate for most occupations. It sets the bar high by doubling the accidental-death benefit in the unfortunate event of both the insured and an immediate family member (parents, child or spouse) perishing in the same disaster. Designed to address customers' asset-accumulation needs after the crisis, "Premier ONE" was offered for a limited time only. This short-term savings plan of three-year premium-payment term, with a maturity of eight years, aimed to help customers lock in a guaranteed maturity value and other potential upsides, with a short-term premium commitment. In keeping with our commitment to help customers better manage their health, we held "Manulife Live Long Live Well Market Day", at which potential customers could explore with our advisors the best ways to have a long and healthy life. It featured informative lifestyle exhibition booths and four different seminars on medical, critical illness, retirement planning and investment. General Insurance During the year, we revamped our top-selling general insurance products – travel and home contents – to better serve the needs of customers. Besides, various promotional offers on travel, private car, accident and home contents insurance were also launched. Manulife Credit Card More than 25 promotional programs were rolled out during the year to increase the usage and exposure of our Manulife Credit Card, and to provide the best benefits to cater for our customers' needs. Employee Benefits Manulife looks after the retirement and protection needs of more than one quarter of the Hong Kong workforce. Our Employee Benefits business registered striking growth in the face of unprecedented economic volatility and intense competition: we remained a solid No. 2 provider1 in the MPF industry, with our market share increasing to more than 17 per cent2. The number of in-force customers grew by six per cent. This outstanding performance is attributable to recognition by our customers of the superb quality of our service and back-end support, comprehensive product offerings and an extensive range of investment options, as well as the sophisticated tools we provide to both employers and members for managing their employee-benefits programs. Pensions Manulife's pensions business goes from strength to strength. Our net-assets intake grew strongly during the year: we received HK$2.8 billion in transferred assets, bringing our assets under management to a record high of HK$60 billion as at the end of 2009. There was also an encouraging 20 per cent growth in the number of preserved accounts we manage. Regular contributions reached HK$ 6.1 billion. Manulife makes available highly efficient online tools to empower our employer and employee customers with the utmost ease and convenience to manage their MPF contributions and assets. Our popular "Contribution Express" saw its usage surging by nearly 100 per cent in the last five years – and the numbers are still growing. Now more than one third of all Manulife's employer customers are managing their employee contributions via this free and comprehensive online MPF contribution platform. The easy-to-use SureSteps Retirement Planner and dynamic online fund-pricing tool also facilitate employees and MPF members make long-term plan for their "post-work" life, and review the MPF fund performance via up-to-date fund performance information. As a caring service provider, Manulife continuously enhances our products and services to meet MPF members' changing needs. To alleviate members' burden amidst a challenging economy in 2009, Manulife introduced a fee reduction to all MPF funds starting from November 2009. Protection A "flight to quality" as a means of combating the unstable economic environment resulted in our Group Life and Health business continuing to perform exceptionally well in a very competitive arena. Manulife continued to be the most popular choice among employers for arranging employees' insurance benefits. We were top-ranked in group business in terms of number of in-force policies issued3. New business annualized premiums at the end of 2009 reached HK$68 million, representing a rise of 25 per cent compared with the previous year. Our success came from a continuing high renewal rate as well as acquiring some large accounts during the year. Innovative protection services is one of the factors responsible for Manulife's market leadership. In 2009, we introduced the waiver of a doctors' referral for a range of specialist consultations and widened coverage on services provided by traditional Chinese-medicine practitioners to selected group medical plans. We also believe in enabling our customers to manage their health rather than just their medical claims. A series of wellness programs was launched focusing on getting to grips with the problems of obesity, smoking and stress.
Investment Funds Leveraging its global experience and expertise in investment-fund management of its parent company Manulife Financial, Manulife is a proven leading provider of mutual funds, investment-linked products and MPF platform in Hong Kong. Following an extraordinarily tough 2008, 2009 was a year of gradual recovery, as Manulife's asset-management brand emerged stronger than ever, with out-performing funds and new investment education initiatives for investors in keeping up with our determination to remain a prime player. Two new funds were added to our mutual-fund platform, namely the Manulife Global Fund Asia Value Dividend Equity Fund and Strategic Income Fund, bringing customers a total of 24 funds to choose from. In addition, some existing funds, such as the Global Contrarian Fund and U.S. Special Opportunities Fund, were recognized by a number of international independent investment-research institutions. And the Dragon Growth Fund was approved as an eligible collective-investment scheme under the "Capital Investment Entrant Scheme", enriching investment choices for individuals applying for entry to Hong Kong. As a leading service provider, we believe in investment education for both elementary and advanced investors. We arranged for overseas fund managers to visit Hong Kong to give local investors the benefit of their knowledge and experience. More than 3,000 Manulife customers gained investment insights from the series of seminars we held over the year. In this Internet era, customers are always looking for quick access to up-to-the-minute information at a glance. Manulife has been quick to spot this growing need in the marketplace and added a new "Webcast" section to its web page. Investors can sit back and watch the webcast to stay abreast of developments across various investment markets. With just one "click", online users can also find out both basic and advanced intelligence via the educational corner known as "Dr. Investment". We will continue to enrich the investment-fund platform by offering more emerging-market funds and China-themed funds to tap these countries' rapid growth and embrace the opportunities currently arising in Asia. Apart from these new funds, Manulife will continue to bring investors informative investment seminars in 2010 and to conduct intensive training for our distributors to ensure that customers receive assistance from the most professionally equipped financial advisors. Professional Advisors Team The professionalism of Manulife's advisors has long been recognized in the international arena. As at the end of 2009, a total of 172 of our producers had qualified for membership in the globally renowned Million Dollar Round Table – 55 of them as Life Members. In addition, 347 Manulife advisors received the prestigious International Quality Award 2009, a 13 per cent jump from 2008's figure. And some 200 managers were honoured with the General Agents and Managers Association's Award 2009 for excellence in management development. On home turf, Manulife's advisor force continued to deliver impressive productivity. The 2009 First Among Equals Contest, Manulife's major internal agency-sales incentive campaign, saw a record-breaking productivity level reached with a 57 per cent growth in production. We also introduced a new Cases Club, which was warmly received by the agency sales force. By achieving an outstanding number of cases during the year, 30 producers qualified as Gold Members, 68 as Silver Members and 188 as Bronze Members. At Manulife, we believe in recognizing and rewarding hard work and consistently good track records. It is in this spirit that the company organizes regular events that combine fun and good-fellowship with acknowledgement of achievement, such as the annual Agency Dinner. Held at the Hong Kong Convention and Exhibition Centre in 2009, it afforded more than 1,650 top producers and managers the opportunity to share the secrets of their success in picking up the GRAND Award (Glory & Recognition of A New Decade) for their extraordinary performance over the year with fellow guests and specially invited celebrities. Independent Distribution A strong and well diversified distribution platform that includes in-house agents and independent sales partners enables Manulife to reach customers from all walks of life. In 2009, we continued to enlarge our distribution network through expanding and deepening partnerships with leading banks, brokers and independent financial advisors. Such alliances provide a wider range of channels for customers to access Manulife's high-quality financial products. DBS Bank (Hong Kong) Limited (DBS Bank) started as our mutual funds distributor since year 2005. Starting 2009, DBS Bank extended the distribution of our insurance products to cover the Premier Estate Protector Series via its 54 branches, expanding our reach to a broader customer segment. On the brokerage front, two new brokers joined us in partnership, namely Fubon Insurance Broker and AEON brokerage. As of the end of December 2009, we have a total of 14 banks and 270 brokers/independent financial advisors in our distribution complex. With an eye to the needs of those in the high-net-worth bracket, we also partnered with the Canadian Imperial Bank of Commerce in 2009 as a means of tapping into this high-potential-growth market. On top of all this, we have deepened our relationship with existing partners by diversifying the product choices we offer. In 2009, "Follow Me" and the limited offer of "Premier One" of our traditional life-insurance products were added to the shelf of CITIC Bank International Limited (fomerly known as CITIC Ka Wah Bank), which started partnership with us since 2005. We have also started to provide MPF products to Convoy in addition to insurance products so that its customers can have access to a more comprehensive product suite. With our global strength and superior financial solutions, Manulife will continue to bring in new distribution partners in the future and broaden our independent distribution network in Hong Kong and Macau. Professionalism Best Company for Financial Planning Excellence Last year, Manulife was voted Hong Kong's "Best Company for Financial Planning Excellence" for the third consecutive year – since the inception, in fact, of the South China Morning Post / Institute of Financial Planners Hong Kong Awards. Manulife entrants comprised more than half the winners in the insurance-industry category at the 2009 awards. And our success in identifying and nurturing talent was highlighted by the fact that 10 out of the 22 Manulife advisors honoured were new advisors with the company, possessing two years' experience or less. The professionalism of our advisors is a crucial factor in our being trusted by so many people to put them on the right financial track – and our resounding triumphs at these awards are testament to the thoroughness of our training methods. We offer our new arrivals a comprehensive 12-month course that emphasises both professional knowledge and real-life situations. Trainees proven to have mastered the necessary skills and put them into practice as professional financial planners are presented with a Manulife University Diploma. Long-time Friends and Partners Customers tend to look for life-long insurance protection. A stable and professional agency force with a long-term commitment to one insurer is able to walk-through the different life stages together with its policy-holders, which is a huge advantage. In 2009, Manulife celebrated agent Joe Sun's 55 years of service with the company. Now in his eighth decade, Mr. Sun still comes into the office almost every day and continues to give much-valued professional advice to his clients. At Manulife, many of our agents have become friends and partners of their clients over the course of many years. Along with Mr. Sun, 14 agents have spent more than three decades with us, including John Leung and Paul Hung, who have both been serving their clients at Manulife for 49 years, and Robert Wilson, who has spent 42 years with the company. Manulife Annual Agency Awards 2009 Senior District Manager of the Year Highest Production Highest Productivity Highest Growth District Manager of the Year Highest Production Highest Productivity Highest Growth Senior Branch Manager of the Year Highest Production and Highest Growth Highest Productivity Branch Manager of the Year Highest Production, Highest Productivity and Highest Growth Senior Unit Manager of the Year Highest Production Highest Productivity Highest Growth Outstanding Achiever Top Advisor of the Year and Diamond Club Rookie of the Year and Diamond Club Top Cases of the Year Awards and Accolades Excellent and Trusted Brand Financial Planner Awards by South China Morning Post and The Institute of Financial Planners of Hong Kong – Hong Kong Best Company for Financial Planning Excellence Next Magazine Top Service Awards Yahoo! Emotive Brand Awards Reader's Digest Trusted Brand Gold Award Sing Tao Excellent Services Brand Award Six Sigma awards by the Six Sigma Institute Community Awards Hong Kong Council of Social Service Caring Company Social Welfare Department Gold Award for Volunteer Service Internet Professional Association Web Care Award Gold Prize Wastewi$e "Good" label from Hong Kong Awards for Environmental Excellence Corporate Citizenship As an officially designated "Caring Company" (an honorific bestowed by the Hong Kong Council of Social Service) since the title was first awarded eight years ago, Manulife is totally committed to serving the community it is a part of as a responsible corporate citizen. Above all, this means our younger generation growing up healthily and inheriting a "greener" future. To this end we have focused on a number of initiatives aimed at providing better resources and education for children in need. At the same time, we are making continuous efforts to help create a sustainable environment. Nurturing Youth Back in 1998, we set up The Manulife Charitable Foundation, a non-profit organisation to support and promote educational, health and charitable activities for the betterment of public welfare in Hong Kong. The foundation has sponsored the Manulife Centre for Children with Specific Learning Disabilities (MCCSLD) at the Hong Kong Polytechnic University since 1999, with a mandate to assist youngsters with learning disabilities and their parents and teachers, by trying to identify those in need of assistance and helping them develop to their full potential. In the last 10 years, MCCSLD has provided support to over 7,000 children and their parents and teachers through some 350 workshops and seminars. In 2009, the centre ran Open Seminars, a Family Support Program for Chinese and English Literacy Enhancement and a Social Emotional Language Program, among other initiatives. During the eight-week English Literacy Program, Manulife staff volunteered to provide guidance to kids with special learning needs to help them develop a basic grasp of English. The company also donated the "Manulife Gym Room" to the Hong Chi Association's Morninghope School. This facility is fitted out with a range of new equipment designed to help strengthen the physiques and cardio-pulmonary systems of the students. Manulife continued to offer renewable scholarships to the Manulife-Canadian International School of Hong Kong, which it has been doing since 1997. The scholarships provide talented children of our customers, advisors and staff with a chance to study at a first-class international school. Manulife has been sponsoring the annual SCMP/RTHK Operation Santa Claus since 2004. In 2009, in addition to our corporate donations to support the Little Life Warrior Society's operations and daily activities, some eager volunteers sang carols and played games with young cancer patients to lift their spirits during the festive season. Striving for a Green Environment Manulife continues to be a supporter of the Wastewi$e Label, a joint program of the Hong Kong Productivity Council and Environmental Protection Department, and we were promoted to the program's "Good" level for our ongoing measures to reduce waste, of which paper is one of the major culprits. Since early 2009, we have offered customers an opt-in option to receive their printed consolidated statements in electronic form, thus reducing 99 per cent of paper consumed in this way — equivalent to saving more than 930,000 pieces of paper in a year. We also produced corporate literature and publications in an electronic format instead of printing hard-copies. The first such e-publication was the Annual Review 2008 eBook published last year. This saved 1.45 million A4 printed pages. In 2010, we will continue to migrate other collateral and customer communications from paper-based to electronic forms. As part of its ongoing commitment to raising awareness of the need for environmental protection internally, we instituted the "Use Less Paper" campaign. This ran from late 2008 through to late 2009, achieving an eight per cent reduction in paper use. Manulife also made June 2009 its "Environmental Month", with the theme "Green Life Green Manulife", and ran a number of associated programs, e.g. launching a staff intranet, staff seminars and so on to encourage "green" living and eco-friendly behaviour in the workplace. Manulife's efforts to conserve the environment were also evident in our volunteering activities. Two global environmental initiatives that Manulife participated in were the WWF's Earth Hour and Hong Kong Friends of the Earth's "Dim It 6.21" campaign. By switching off the neon signs on Manulife Tower and Manulife Plaza office buildings on the designated night, we hoped to bring home to people the need for energy-saving and air-pollution reduction. Manulife Financial Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were Cdn$446 billion (HK$3,413.4 billion) as at March 31, 2010. The company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States. 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 Financial Annual Report 2009 is available online at www.manulife.com |
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