Bangkok--Jun 23--Weber Shandwick
Company name Interlife John Hancock officially changed to Manulife Insurance (Thailand) Public Company Limited Olympic sponsor announces aggressive growth plans
At a formal ceremony today at the Four Seasons Hotel in Bangkok, Manulife Insurance (Thailand) Public Company Limited (Manulife Thailand) officially launched its new company name, after receiving approval to do so yesterday from industry regulators. Formerly known as Interlife John Hancock Assurance Public Co., Ltd. (Interlife John Hancock), Manulife Thailand entered the Thai life insurance market on April 28, 2004, following the completion of a large-scale global merger between Canada-based Manulife Financial Corporation and U.S.-based John Hancock Financial Services, Inc..
“We are very pleased that we can now introduce Manulife’s extensive portfolio of premium financial products and services to the citizens of Thailand,” said Victor Apps, Senior Executive Vice President and General Manager of Manulife Financial, Asia, at the launch ceremony. “We see the Thai market as offering tremendous growth potential for our core life insurance and employee benefits business and for the wealth management business we plan to introduce.
We will be leveraging our vast Asian experience and expertise in this area to help quickly build our operation in Thailand. We look forward to becoming a major player in this country’s financial services sector in the years to come.”
Manulife Financial and its locally-affiliated Thai holding company control 97.51 per cent of the shares of the company. A board-approved mandatory tender offer to gain all outstanding shares and de-list the company closed on March 24, 2005. The company delisted from the Stock Exchange of Thailand (SET) on April 13, 2005.
“We welcome Manulife Financial’s investment in the Thai life insurance industry, a sector that is increasingly a large contributor to our growing economy,” said Denis Comeau, Canadian Ambassador to Thailand, who presided over the launch ceremony today. “Manulife Financial is one of Canada’s largest companies and we are thrilled their growth strategy today sees their long-respected brand entering Thailand.”
Committed to expansion and growth in new market
Operating in Asia for more than 100 years, Manulife has one of the most extensive Asian operations of any life insurance company in the world. And in this increasingly competitive and sophisticated industry, Manulife strongly believes that it is service that sets a company apart from its competitors.
“We are adopting successful models that Manulife uses elsewhere in Asia for agency administration, agency training, product development and distribution, customer services and information system development,” said Edward Lau, Executive Vice President, Asia Regional Operations, Manulife Financial at the ceremony. “We will begin by leveraging the strong support and expertise from our regional office in Hong Kong to upgrade IT systems and bring new products to the market.”
“With an aggressive growth strategy in place, we will also be building on our local team of skilled professionals, offering rewarding career opportunities across all areas of our business,” expanded Mr. Lau. “Around the Region, Manulife has been widely recognized for the professionalism of its people, and in particular, its agency force. Manulife is strongly committed to the development of agency as its core distribution channel, so accordingly we will invest much time and effort in the selection process and the ongoing training and development of our financial advisors.”
Olympic sponsorship set to enhance brand in competitive marketplace
“As the exclusive Life Insurance Partner of the Beijing 2008 Olympic Games, our corporate sponsorship dollars go toward supporting the dedicated individuals of Thailand, who train long and hard to achieve the excellence that qualifies them for the world’s largest and most recognized sports competition,” said Mr. Ron MacTavish, Senior Executive Vice President, Sales and Marketing, Manulife Thailand.
The Beijing Olympic Games is considered the single greatest marketing opportunity this decade for companies wishing to establish leadership positions in Asia. As such, Manulife Thailand plans to leverage the sponsorship to create a powerful and comprehensive marketing strategy that will span all facets of its life insurance business in all of its Asia locations, including Thailand, over the next three years.
“Manulife Thailand shares the Olympic attributes of top performance and striving to be the best,” added Mr. MacTavish. “As the exclusive Life Insurance Partner of the Beijing 2008 Olympic Games, we hope to communicate to our new stakeholders in Thailand that we, too, stand for the excellence that has long been associated with the Olympic ideals. We look forward to the tremendous branding benefits that we stand to gain from our investment in the Olympic Movement.”
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$350 billion (US$290 billion) as at March 31, 2005.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
For further information, please contact:
In Thailand:
Panu Punyaratabandhu
Phone: (66) 2642 6354/ (662) 246 7650-99 x811
Email: [email protected]
In North America:
Kim Griffiths, Regional Communications
Phone: (852) 2510-3200 (852) 9091-3861
Email: [email protected]
Nisittha Chaiyen
Associate
Weber Shandwick
10/F Ton Son Tower
900 Ploenchit Road Lumpini, Pathumwan,
Bangkok 10330 Thailand
Tel: 66 2 257 0300 Fax: 66 2 257 0312
[email protected]
www.webershandwick.com
Click for photo release at www.thaipr.net End.