Overview

As the first 100 per cent foreign-owned life insurance company in Vietnam, Manulife began its operations in September 1999 as a joint venture called Chinfon-Manulife Insurance Company, just three months after being granted a foreign investment license by the Ministry of Planning and Investment.

In eight years, Manulife Vietnam has grown rapidly to become a world-class company providing a competitive array of financial and protection products to Vietnamese customers. These products include education, endowment, retirement and term plans; riders such as Accidental Death and Dismemberment, Major Disease, Medicash, Waiver of Premium and Special Waiver of Premium; and comprehensive life insurance products that include Premier Care Plus and Premier Lady, the first tailor-made product for women to be introduced in the Vietnamese market.

Consistent with the parent company, Manulife Financial's global philosophy, Manulife in Vietnam continues to focus on building a strong base of loyal customers through superior training and education of its staff and agents, and through dedicated customer service initiatives.

Manulife's strong reputation in Asia, built over 100 years, enhances its strong and long-term commitment to being the premier provider of life insurance in Vietnam for years to come.

History of Manulife in Vietnam

• First 100% foreign-owned life insurance company in Vietnam.

• First established in Ho Chi Minh City in June 1999 as a joint venture between Manulife Financial (60%) and one of the biggest investors in Vietnam, Chinfon Global Corporation (Taiwan)(40%); majority-owned and controlled by Manulife Financial.

• In January 2001, Manulife Financial purchased the shares of Chinfon-Manulife from its joint venture partner - Chinfon Global Corporation - increasing Manulife's interest in its Vietnam operations to 100%; the company was renamed Manulife (Vietnam) Limited; at the same time, the capital invested in Manulife Vietnam was increased to US$10 million from US$5 million.

• In April 2001, Manulife Vietnam was one of the first life insurance companies to launch a public website to provide customers access to Manulife product and service updates.

• In April 2002, Manulife Vietnam launched ManuTouch, the Vietnam life insurance industry's first-ever internal website for agents.

• In July 2002, Manulife Vietnam became the first company in Vietnam to introduce the filing management software, Auto Scanning, to improve management systems and access of policyholder information.

• In March 2003, Manulife Vietnam became the first life insurance company to declare a profit after only three years of operation, marking a significant industry milestone in Vietnam.

• For the year 2004, total premiums and deposits increased by 14 per cent and total assets under management increased 94 per cent, compared to the year earlier.

• In June 2004, to provide customers with convenient premium payment facilities, Manulife Vietnam in cooperation with EAB bank launched the Manulife-EAB co-branded card for loyal Manulife policyholders.

• In October 2004, Manulife Vietnam was a pioneer in launching a Customer Charter, a written commitment to help customers fully understand their basic rights and obligations when they enter into an agreement to purchase a policy.

• In October 2005, Manulife Vietnam launched Phuc An for Kids. This comprehensive plan will ensure the rising education cost would be taken care of - while not disrupted by any unplanned events.

• In April 2006, Manulife Vietnam received the prestigious “Most Recognized Brand” award by the Vietnam Chamber of Commerce and Industry & AC Nielsen Research Co. This has affirmed the company’s reputation and enhanced its brand image in the local market.

• In August 2006, Manulife Vietnam was proudly recognized by the Vietnam Association for Education Development and the Vietnam Association of Psychological – Educational Science for its significant contribution over the years to improving educational development for the younger generation in Vietnam. The prestigious award ceremony took place at the Legend Hotel, with awards presented by the honourable Mr. Nguyen Manh Cam, ex. Deputy Prime Minister, Chairman of Education Development Association and Professor Pham Tat Dong, Vice-Chairman of the Psychological-Education Science Association, and other highranking officers in the sector.

• In May 2007, Manulife Vietnam had completed construction building of Vietnam headquarters project with value to US$10 million in Phu My Hung, new Saigon South City. This is the first Manulife building built in Asia, the first foray into the property market in Vietnam, a move that further solidifies its long-term commitment to Vietnam.

• Product offerings include education, endowment and retirement plans, a series of premier products, and riders such as Accidental Death & Dismemberment, Medicash and Waiver of Premium; Value Preservation Option, introduced in July 2002, enables customers to link the VND value of their policy to inflation, gold or currency movements at every policy anniversary; Phuc An, launched in 2004, with optimal insurance protection benefits and available in three different plans to meet diversified financial needs has been warmly received by customers.

• With more than 8% market share, Manulife Vietnam is serving more than 300,000 customers in over 12 cities and provinces through approximately 3,000 professional agents and 300 staff.

• Head Office of Manulife Vietnam is located in Ho Chi Minh City; a branch office is located in Hanoi, and 12 transaction offices are situated throughout the country.

• After eight years of operations, Manulife has well established its reputation as the leading life insurer in Vietnam with distinctive strengths in professional distribution, product innovation, and superior customer service.