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Expanded footprint, customer-centric products, and strong performing investment-linked funds lift Manulife Philippines Group ranking to 3rd for combined total premium income in 2013

Makati City, Philippines – The Manulife Philippines Group - composed of The Manufacturers Life Insurance Co. (Phils.), Inc. ("Manulife Philippines") and Manulife Chinabank Life Assurance Corporation ("MCBL") - ranked 3rd in combined total premium income according to data from the Philippine Insurance Commission (IC). The combined premium income of Manulife Philippines and MCBL totaled P23 billion in 2013, an increase of 93 per cent over 2012, the fastest growing Group in the industry, consequently raising the Manulife Group's rank to number three from number five in the previous year.

"Aside from our expanded footprint in key provincial areas, the evolving mindset of Filipinos who now look at financial protection products as alternative forms of investments and the strong yield performance of our variable life funds linked to the Philippines' improving market conditions are the factors that fuelled last year's upbeat performance," according to Ryan Charland, Manulife Philippines Group President and Chief Executive Officer.

The premium income of Manulife Philippines alone doubled to P15 billion in 2013 versus 2012, making it the second fastest growing life insurance company in the industry. Its ranking in terms of total premium growth climbed to number five from number seven during the period. On the other hand, MCBL’s market share rose to 5 percent in 2013 from 4 percent in 2012, making the firm the third fastest growing life insurer in the industry.

“The Manulife Philippines Group’s solid performance last year reflects our determination to provide personalized financial solutions to Filipinos that enable them to secure their own and their family’s futures,” said Mr. Charland. "Our distribution force of over 4,500 agents and more than 230 China Bank branch-based financial sales associates nationwide helps us to reach out and cover more Filipino lives."
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