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Manulife Philippines and Chinabank sign 15-year renewal of bancassurance agreement

Manila, Philippines – Manulife Philippines, the local arm of leading international financial services provider Manulife Financial Corporation, and China Banking Corporation (Chinabank) announce the renewal of their bancassurance partnership under Manulife China Bank Life Assurance Corp. (MCBL).

MCBL offers financial protection and wealth management products and services through 650 Chinabank and China Bank Savings branches nationwide. This strategic partnership, which started in 2007, has been renewed for another 15 years, solidifying the two organisations’ shared commitment to providing holistic life, health and wealth solutions for the long-term financial security of Filipino families.

Over the past 18 years, MCBL has introduced comprehensive health and life insurance plans that provide coverage for the most common critical illnesses in the Philippines. Additionally, MCBL focuses on providing customers with long-term savings and retirement planning, helping them secure a comfortable retirement, fund their children’s education, or achieve other financial goals.

The company also offers a variety of options to assist Filipinos in growing their wealth and preserving their legacy by investing in a diverse array of fund options tailored to their financial goals and aspirations. MCBL is also a recipient of Golden Arrow Awards for exemplary performance in corporate governance given by the Institute of Corporate Directors.

“We are delighted to strengthen our long-standing partnership with Chinabank, one of the largest private universal banks in the Philippines, by renewing our bancassurance agreement with them. As we renew this strategic alliance, we look forward to growing our reach across the country through Chinabank’s distribution network, providing holistic and accessible financial and wealth solutions that enrich the lives of more customers within the bank’s growing customer base,” said Rahul Hora, President and Chief Executive Officer, Manulife Philippines.

“At Chinabank, we are focused on helping our customers achieve their financial goals, and our partnership with Manulife through MCBL delivers on this commitment. We are excited to elevate this collaboration so we can provide our customers greater security with products and services that exceed their expectations,” said Romeo D. Uyan Jr., Chinabank President and Chief Executive Officer.

Source: Mindanao Times

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