According to the Q3/2024 business results report, Manulife Global recorded impressive growth when annualized premium revenue (APE) increased by 40%, new business profit margin (New Business CSM) increased by 47%, and New Business Value (NBV) increased by 39%, compared to the same period last year.

Meanwhile, Manulife Asia recorded APE of USD 1,372 million, up 64% year-on-year, thanks to sales growth in Hong Kong (China), China, Singapore and Japan. At the same time, NBV reached USD 481 million, up 55% year-on-year. This helped Manulife Asia record Core Earnings of USD 453 million, up 17% year-on-year. New Business CSM reached USD 435 million, up 45% year-on-year in 2023.

In the Vietnamese market, in the third quarter of this year, Manulife Vietnam paid more than VND2,000 billion for health benefits, maturity benefits and other contract benefits and payments. The accumulated figure for the first 9 months of 2024 is more than VND6,000 billion. The company has processed nearly 370,000 insurance benefit claims since the beginning of the year. Currently, 100% of customers submit claims online on Manulife's eClaims 3.0 platform.

picture 1.jpg
Photo: Manulife Vietnam

Last quarter, Manulife Vietnam focused on improving customer experience with a series of outstanding activities such as: Deploying a recording solution during the investment-linked insurance product consultation process to protect customers' rights, bring transparency and peace of mind; simultaneously upgrading transaction offices in Thanh Hoa, Nghe An, District 7 - Ho Chi Minh City, Da Nang, Hai Phong; launching the multi-utility insurance application "Manulife Vietnam", helping customers easily manage and look up contract information and perform necessary transactions on mobile devices.

At the same time, Manulife Vietnam also continues its strategy of investing in community health with the program "Clean - Smart - Green Living" to raise people's awareness of building a healthy lifestyle to minimize health and financial burdens.

Within the framework of the program, Manulife Vietnam organized two free health check-ups and HP stomach testing events for people in Ho Chi Minh City and Hanoi. In November and December, Manulife Vietnam continued to expand the program to more than 10,000 people in provinces and cities including Hanoi, Ho Chi Minh City, Hai Phong, Thanh Hoa, Nghe An, and Da Nang.

In addition to upgrading the health product "Live Healthy Every Day" to version 2024 with many optimal benefits for customers, Manulife Vietnam will launch the "Show Off Your Health" challenge to encourage the community to "show off" a healthy lifestyle, spread plans and tips to help protect health and improve quality of life.

As a Canadian insurance company with the largest charter capital in the life insurance market, Manulife Vietnam is serving nearly 1.5 million customers nationwide. Most recently, Manulife Vietnam was recognized as one of the Top 3 largest life insurance companies in Vietnam by Vietnam Report, and is considered an insurance company with strong financial capacity. In addition, Manulife Vietnam's M-Pro insurance contract issuance verification and supervision process was also honored as "Digital Transformation Initiative of the Year" at the Insurance Asia Awards 2024.

Ngoc Minh