Thursday, 16 September 2010

PHILIPPINES: Manulife cites insurance growth in RP due to remittances, new gov’t

By Alexander Villafania

MAKATI CITY, METRO MANILA – Increased remittances from overseas Filipino workers and renewed optimism in the new Philippine government resulted in higher growth sales for insurance company Manulife Philippines in the second quarter of 2010.

The company also posted a 44 percent increase in the number of agents for this year, indicating increased sales potential by the company. The company now has 1,725 sales agents, up from 1,200 in 2009.

In a press briefing, Manulife Philippines President and CEO Indren Naidoo said the company generated 88 percent increase in weighted insurance sales for the second quarter over the same period last year. He noted a 71 percent growth year-to-date as of June 30 this year. Read more

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