Manulife Advances In Asia

Manulife’s core earnings in Asia rose 27 percent year-on-year to $1.9 billion in 2024, according to the insurer’s financial results. This included annualized premium equivalent sales growth of 36 percent to $4.4 billion and an increase of 35 percent in new business value to $1.6 billion. New business contractual service margin was also up 38 percent to $1.6 billion.

Globally, Manulife posted $5.4 billion of net income attributable to shareholders in 2024, up 5 percent.

Some of the regional developments highlighted by the insurer this year included the expansion of Manulife Pro to Indonesia, Japan and Hong Kong. Manulife Pro is the firm's proprietary proposition for top-tier agents that includes differentiated resources and tools, such as dedicated underwriting support and enhanced customer engagement services with access to customer leads.

The insurer also launched two new products that cater to the protection, legacy planning and wealth management needs of high net worth customers. On technology, it launched a generative artificial intelligence sales tool in Singapore and Japan that enables agents to automatically create personalized engagement strategies.