Manulife Singapore Records a Second Quarter of Solid Growth
Opens New Financial Advice & Customer Service Centre in Tampines to better cater to customers’ needs
Singapore – Manulife Singapore enjoyed solid new business performance over the past two quarters - 8 percent growth in total weighted premium in Q1 2011 over Q4 2010 and 36 percent growth in Q4 2010 over Q3 2010. Robust sales from single premium investment linked and high net-worth plans boosted overall sales.
Ms Annette King, President & CEO of Manulife Singapore said: “We closed the year 2010 with remarkable sales in Q4. The business momentum continued in Q1 this year to reach total weighted sales of approximately S$20 million. April 2011 saw another strong month with regular premium sales growth of 38 percent over March 2011. If this persists, we expect 2011 to be a very positive year.”
Along with business growth, Manulife Singapore expanded to the east of Singapore with a new Centre in Tampines. Conveniently located at 9 Tampines Grande, this new office is 5 minutes from the hustle and bustle of the gregarious Tampines neighbourhood, one of the largest residential developments in Singapore.
Ms. King added: “Setting up this new additional office is a demonstration of our commitment to Singapore. Being in Tampines gives Manulife greater proximity to our clients in the Eastern zone. As a forward-thinking and reliable Company, we have expanded to serve them better.”
Manulife Singapore currently has an agency force of approximately 900 with a goal of doubling our manpower by 2014. Called the ‘Financial Advice and Customer Service Centre,’ the Tampines Grande office is a new home for five financial advice teams with about 140 Financial Planners (FPs) and it is expected to grow to support up to 250 FPs as well as a dedicated customer service team. Customer service excellence is a key differentiator for Manulife Singapore. Guided by a directional compass called Customer PRIDE*, Manulife Singapore topped the most recent Customer Service Satisfaction Index of Singapore in the financial services sector, scoring 68.5 points against the sector average score of 66.2 and national average of 67.2 for all industries surveyed. This is an annual survey conducted by Singapore Management University.
“Our position and affirmation as the chart-topper for customer service in the financial services industry is a testament that our customer-centric approach works well for us and we shall continue to do better, work harder and reach further for our clients,” added Ms. King.
The new office at Tampines Grande comes with new training facilities and event rooms catered for FPs and their clients. It includes a children’s room equipped with games and DVDs to serve clients who bring children to the office. Apart from offering a comfortable and professional environment, the facility includes a modern client suite equipped with wireless Internet connectivity.
“We recognise that client confidentiality is key in our business and we have designed the office and its functionality with that in mind,” said Mr. Robert Elliott, Senior VP & Chief Distribution Officer. One example is the multi-functional printer and copier which has a security feature that only allows documents to print when the document owner taps a special security card on the machine. This ensures full confidentiality of documents and client data.
*Customer PRIDE – Our customers are at the heart of our core values. These values are represented globally by the acronym PRIDE: Professionalism, Real value to our customers, Integrity, Demonstrated financial strength and Employer of choice.
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About Manulife (Singapore) Pte Ltd
Manulife (Singapore) Pte Ltd is a wholly owned subsidiary of Manulife Financial Corporation.
Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients worldwide have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients around the world. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were $478 billion (US$492 billion) as at March 31, 2011. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
Manulife Singapore Pte Ltd