Manulife Guangdong Branch in which Sinochem holds shares starts operation on November 26, marking a long-term commitment to the Chinese market by Manulife as well as a major move to developing into a national insurance company.
Manulife, as the first China-foreign joint life insurance company in China, keeps growing since its establishment 6 years ago. In 2002, its premium hit 275 million RMB Yuan. Currently it has about 3000 agents and 250 employees who provide insurance services for more than 140,000 clients. In the first three quarters of this year, its premium income increased by 48% compared with the same period of last year.