Manulife Singapore’s new business surges 68% to S$22.2 m in 3Q11

This is 3.7 times higher than the life insuranceindustry growth rate of 18%.

According to a release, Manulife Singapore’s insurance sales continued to climb in the third quarter
2011, driven by higher new business sales via agency and bank channels.

Total weighted new business grew 68 per cent to register S$22.2 million in the third quarter
compared to the same quarter last year, which is 3.7 times higher than the life insurance
industry growth rate of 18 per cent as announced by Singapore’s Life Insurance Association
recently.

Philip Hampden-Smith, Executive Vice President and General Manager of South East Asia
Operations, said, "Our Manulife Singapore business has had an outstanding third quarter
building on the successes of the first half of the year. With all our distribution channels
performing well, the company has built up its business momentum and a great foundation for
the future. "

In the distribution mix, both agency and bank increased their contribution representing 67 per
cent and 26 per cent of the weighted total sales respectively, while financial advisory firms
contributed seven per cent.

“While the Singapore economy has been forecast to remain sluggish until the middle of next
year we have had strong performances in the first three quarters of this year,” said Ms Annette
King, President & CEO of Manulife Singapore. “Our agency manpower has grown significantly
over the last year and we have reached 1,000 Financial Planners now – a huge milestone in
view of the challenging recruitment environment.”

Along with business growth, and six months after the opening of its Tampines Grande office
in May, Manulife Singapore opened its doors at Manulife Centre located at Bras Basah Road
on 11 November, 2011. Manulife Centre is now the new home for over 1,000 employees
and agents. Ms. King said, “The new Manulife Centre represents another milestone in
the continuous growth of the company. This is the place to integrate our agency force and
employees for greater synergy, the place to grow and bring us together as One Manulife.”

Within the building, a new Client Service Centre has been created on the ground level at
Manulife Centre with first class client service facilities and extended service hours. “Being in
this central location gives us greater proximity to our clients. As a forward-thinking and reliable

company, we have expanded to serve them better,” added Ms. King. “We are committed
to delivering excellent service and the best-in-class life insurance and wealth management
products for our clients, right from the heart of Singapore. We will continue to focus on
consistently understanding and meeting client expectations.”