Manulife Group records impressive growth in Q2/2024 business results

08/27/2024 14:41 QT Print article

ANTD.VN - Manulife Group has just announced its business results for the second quarter of 2024 with impressive growth in all segments.

Manulife Global's Q2 results report recorded Annualized Premiums (APE) of CAD 1.9 billion and New Business Value (NBV) of CAD 723 million, up 17% and 23%, respectively, year-on-year. Core Earnings also increased by 6%, reaching CAD 1.7 billion; total assets under management and supervision were over CAD 993 billion.

According to Manulife Group, this impressive business result was achieved thanks to contributions mainly from the Canadian market and the Asian region.

In Asia in particular, Manulife recorded outstanding growth with New Business Value (NBV) increasing by 19%; New Business Margin (NB CSM) increasing by 10%; Annual Premium Equivalent (APE) increasing by 7% and Core Profit with growth of 40%.

Manulife Vietnam recorded a profit of VND 1,699 billion, paid nearly VND 4,000 billion in insurance benefits in the first half of 2024

In the Vietnamese market, at the end of the first 6 months of 2024, Manulife Vietnam recorded a profit after tax of more than VND 1,699 billion thanks to effective financial investment results.

Notably, profit from financial activities in the first half of 2024 reached more than VND 3,142 billion, an increase of more than 40% over the same period in 2023. Revenue from this financial activity mainly came from investments in stocks, bonds and bank deposits. Specifically, profit from stock trading reached VND 1,359 billion, profit from bond investment reached VND 1,159 billion, and profit from bank deposits reached VND 819 billion.

In the first half of 2024, Manulife Vietnam paid nearly VND4,000 billion in insurance benefits for total health benefits, maturity benefits and other contract benefits. The company processed an average of 41,000 benefit payment claims per month, with the average processing time also shortened to 1.1 days.

This comes from the fact that Manulife Vietnam has upgraded its online insurance benefit payment process to eClaims 3.0, which significantly shortens the time it takes to process claims. Currently, about 99% of customers submit applications online to request insurance benefits.

Manulife Vietnam has also had many special policies to support customers, including prioritizing quick payment for cases with clear accident causes. For some cases of compensation denial where the customer has health problems, the company will have a doctor contact to explain the reason for the denial, in order to help customers have the best service experience.

As the largest foreign-invested insurance company in the life insurance market, Manulife Vietnam is serving nearly 1.5 million customers with a modern network of offices across the country. Recently, Manulife Vietnam has been continuously honored with many outstanding awards such as: "Top 10 Prestigious Insurance Companies 2024", "Best Place to Work in Asia 2024 - Best Companies To Work For in Asia 2024".

In addition, Manulife Vietnam's M-Pro insurance contract issuance verification and monitoring process has just been honored as "Digital Transformation Initiative of the Year" at the Insurance Asia Awards 2024.

Source: https://www.anninhthudo.vn/tap-doan-manulife-ghi-nhan-ket-qua-kinh-doanh-quy-22024-voi-muc-tang-truong-an-tuong-post587395.antd