HONG KONG SAR – Media OutReach<\/a> – 9 November 2021 – The
Results overview:\u00a0 <\/b><\/p>\n Core earnings<\/b><\/p>\n APE sales<\/b><\/p>\n NBV<\/b><\/p>\n Mandatory Provident Funds (MPF) market share<\/b><\/p>\n Agency force<\/b><\/p>\n “We’re pleased to report
\u00a0<\/p>\n Year-to-date core earnings grew by
\u00a0<\/p>\n Year-to-date
\u00a0<\/p>\n In the first nine months of 2021, NBV rose 34% to HK$3.5 billion from
\u00a0<\/p>\n
\u00a0<\/p>\n In
\u00a0<\/p>\n “Manulife is committed to continued growth and investment in Hong Kong.
Notes:<\/p>\n I.\u00a0 Manulife Hong Kong includes all our Hong Kong businesses including insurance, insurance-based wealth accumulation products, and our wealth and asset management businesses.<\/p>\n ii.\u00a0 All percentage changes are stated on a year-over-year basis, except for MPF market share.<\/p>\n iii. Core earnings for Manulife Hong Kong include insurance and insurance-based wealth accumulation products, and exclude our wealth and asset management businesses. Core earnings is a non-GAAP profitability measure. For full definition of core earnings, see “Performance and Non-GAAP Measures” in Manulife Financial Corporation’s 3Q21 Management’s Discussion and Analysis.<\/p>\n iv.\u00a0 Annualized premium equivalent (“APE”) sales are presented to provide consistency of scope for NBV disclosures and industry practice. APE sales consist of insurance and insurance-based wealth accumulation products, and exclude our wealth and asset management businesses. They comprise 100% of regular premiums\/deposits sales and 10% of single premiums\/deposits sales.<\/p>\n v.\u00a0 \u00a0New business value (“NBV”) is the change in embedded value as a result of sales in the reporting period. NBV is calculated as the present value of shareholders’ interests in expected future distributable earnings, after the cost of capital, on actual new business sold in the period using assumptions that are consistent with the assumptions used in the calculation of embedded value. NBV excludes businesses with immaterial insurance risks, such as Hong Kong’s wealth and asset management businesses. NBV is a useful metric to evaluate the value created by Manulife Hong Kong’s new business franchise.<\/p>\n vi.\u00a0 MPF market share is measured by share of assets under management and estimated net cash flows by scheme sponsor. Source: Mercer MPF Market Shares Report as at September 30, 2021.<\/p>\n<\/p><\/div>\n\n HONG KONG SAR – Media OutReach – 9 November 2021 – The
Manulife group of companies operating in Hong Kong (“Manulife Hong Kong”) today
announced strong financial results for the third quarter and first nine months of
2021, reporting robust growth in core earnings, annualized premium equivalent
(APE) sales and new business value (NBV). Results …<\/p>\n","protected":false},"author":1,"featured_media":18696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18695"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=18695"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18695\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/18696"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=18695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=18695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=18695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nManulife group of companies operating in Hong Kong (“Manulife Hong Kong”) today
\nannounced strong financial results for the third quarter and first nine months of
\n2021, reporting robust growth in core earnings, annualized premium equivalent
\n(APE) sales and new business value (NBV). <\/p>\n![](\"https:\/\/images.media-outreach.com\/Thumb\/500x0\/195442\/Infographic-2021Q3-Eng.jpg#image-195442\")
<\/p>\n\n
\nearnings of HK$5.3 billion in the first nine months of 2021, up 16% from the
\nsame period of 2020, and HK$1.9 billion in 3Q 2021, up 16% from 3Q 2020<\/li>\n<\/ul>\n\n
\nsales of HK$4.9 billion in the first nine months of 2021, up 10% from the same
\nperiod of 2020, and HK$1.7 billion in 3Q 2021, up 12% from 3Q 2020<\/li>\n<\/ul>\n\n
\nof HK$3.5 billion in the first nine months of 2021, up 34% from the same period
\nof 2020, and HK$1.2 billion in 3Q 2021, up 42% from 3Q 2020<\/li>\n<\/ul>\n\n
\nwas the largest MPF provider with a market share of 26.5% based on assets under
\nmanagement as at September 30, 2021, up 1.9 percentage points from a year ago<\/li>\n
\nwas also the leader in terms of estimated net cash flows for the period from
\nJuly 1, 2021 to September 30, 2021 with a market share of 58.2%<\/li>\n<\/ul>\n\n
\nnumber of agents at 10,815, up 6% from the prior year quarter<\/li>\n
\nforce remained the key contributor to insurance, annuity and MPF businesses<\/li>\n<\/ul>\n
\nanother quarter of strong results with core earnings growth year-on-year in
\nevery quarter of the last four years,” said Damien Green, Chief Executive
\nOfficer of Manulife Hong Kong and Macau. “Both NBV and NBV margins have
\nincreased compared with the prior year quarter, reflecting the quality of our
\ninsurance business. All distribution channels contributed to the outstanding
\nperformance. Our agency force reached a record high in numbers and delivered strong
\nperformance in insurance and pension sales. Our other distribution channels also
\nreported significant growth in APE sales as we see continuous demand for our
\nwide range of product offerings across different customer segments.” <\/p>\n
\n16% to HK$5.3 billion from HK$4.5 billion in the same period last year. Third quarter
\n2021 core earnings hit a record high at HK$1.9 billion, up 16% from HK$1.6
\nbillion in the previous year quarter. Drivers for the growth included strong
\nin-force growth, higher new business volumes and favourable product mix.\u00a0 <\/p>\n
\nAPE sales were HK$4.9 billion, up 10% from HK$4.5 billion in the same period of
\n2020. Third-quarter 2021 APE sales rose 12% to HK$1.7 billion from HK$1.5
\nbillion in the previous year quarter, reflecting strong growth in Manulife Hong
\nKong’s bank channel, demand from mainland Chinese visitors through its Macau
\nbranch, and an expanded agency force.<\/p>\n
\nHK$2.6 billion in the prior year period. Third-quarter 2021 NBV was HK$1.2 billion,
\nan increase of 42% compared with HK$0.9 billion in the prior year quarter, due
\nto higher sales volumes, favourable interest rates and product management
\nactions. Hong Kong’s NBV margin was 70.6% in the third quarter, an increase of
\n14.6 percentage points compared with the prior year quarter. <\/p>\n
\n
\nManulife
\nHong Kong has enhanced its health solution offerings by joining hands with Hong
\nKong Baptist Hospital to provide customers with access to a new and advanced
\nday medical centre starting July 2021. Last month, it also announced the launch
\nof Holistic Professional Medical Support Service and a strategic partnership
\nwith CUHK Medical Centre to give customers priority access to specialists in
\noncology.
\n
\n<\/p>\n
\n3Q 2021, the company expanded its footprint in Hong Kong with the opening of
\nthe Manulife Prestige Centre in Tsim Sha Tsui to better serve its
\nhigh-net-worth customers. It has also strengthened its brand presence by
\nbecoming a major sponsor of the recently opened Water World Ocean Park.<\/p>\n
\nWe recently launched a prominent harbourfront signage at the Great Eagle Centre,
\nand some of our agents will soon move into the Manulife Place in Kowloon East.
\nNext year, we’ll celebrate our 125th<\/sup> anniversary in Hong Kong. We’re
\nexcited to see our investment[s] in Hong Kong help our professional advisors
\ngrow their business and make our customers’ lives every day better,” added Mr.
\nGreen. <\/p>\n
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