Manulife Indonesia is the only life insurance company in Indonesia to ever be recognized by AIR in this category. “We are very proud of this hard-earned achievement and accept it in honour of all our loyal customers, dedicated employees and 3,000-strong agency,” said John Harrison, President Director, Manulife Indonesia at the Awards Dinner. “We thank them for all their loyal support over the years, and in particular over the past two years when we have had to deal with issues outside our normal business operations. Throughout this difficult time, their dedication never wavered and we are happy today to reward their commitment with this recognition by Asia’s insurance industry that Manulife Indonesia truly is the best life insurance company, not only in this country but across the region.”
Demonstrated award-winning operations
The “Life Insurance Company of the Year” award is based on several criteria: demonstration of commitment to product innovation; research into and ability to respond to customers’ and society’s changing needs; consistently strong financial performance; strong management and a consistently high standard of customer service. Based on these criteria, a distinguished panel of 16 judges from across Asia and worldwide, ultimately selected Manulife Indonesia as the winner of this category for 2002.
“In the insurance industry, this award is widely recognized in Asia and across the world. Manulife Financial is thrilled that its high-performing operations in Indonesia is being acknowledged for their ‘contribution to the pursuit of excellence,’ which was the basis by which the award submissions were reviewed,” said Victor Apps, Executive Vice President and General Manager, Asia. “I have no doubt that Manulife Indonesia was up against some stellar competition in this category, but in the end this award demonstrates that Manulife Indonesia is truly the best in the industry in Asia.”
Creating the unbeatable gap
Manulife Indonesia differentiates itself from the competition and is well on its way to “creating the unbeatable gap” in the following ways:
- In July 2002, Manulife Indonesia was awarded the title of ‘best life insurance company in Indonesia’ by respected business magazine – Pilar Bisnis – in an annual insurance company rating competition.
- Manulife Indonesia was established as the number one foreign pension provider, serving more than 55,000 employees as pension participants from 420 companies in Indonesia, following its acquisition of Principal Indonesia in August 2001.
- A key member of the Manulife Indonesia group of companies, Manulife Aset Manajemen Indonesia (MAMI) at only three years of age is already one of the largest asset management companies in the country. MAMI has an industry leading number of agents – 600 – qualified to sell mutual funds.
- Manulife Indonesia recently launched its Customer Relationship Management program designed specifically to develop and maintain strong relationships between our customers and agents via specially designed tools and services.
- Manulife Indonesia is strongly committed to helping the Indonesia community through the Manulife Care Foundation. Manulife’s charitable organization brings together our agents, clients and employees as a team to help fight poverty in Indonesia. The Foundation’s philanthropic efforts have funded many programs, including: financial assistance to victims of natural disasters, financing dental care for the poor; renovating and building local schools; and, donating uniforms and tuition to needy school children.
The 2002 Asia Insurance Industry Awards
The Asia Insurance Industry Awards were first introduced five years ago by the Asia Insurance Review and The Review – Worldwide Reinsurance, to promote the industry’s move towards higher standards and greater professionalism. The Awards recognize the top performer in the Asia-Pacific region in a number of select categories, including: general insurance, reinsurance, most innovative product on the market, best Web site and personality of the year. The judges are international distinguished members of insurance and reinsurance companies as well as industry regulators.
About Manulife Indonesia
Manulife Indonesia, established in 1985, is one of the largest joint venture insurance companies in the country. The company offers the most comprehensive products and services in life insurance industry in Indonesia. Headquartered in Jakarta, Manulife Indonesia operates through a network of 72 branches in 33 cities throughout Indonesia with the support of almost 4,000 staff and full-time agents, who serve more than 400,000 customers.
With total assets exceeding IDR 76 trillion, Manulife ranks fourth in the Indonesia insurance industry. Total premium income for the company increased to IDR 580 billion in 2001, an increase of 28 per cent over the year earlier. Net income increased to IDR 76 billion in 2001, an increase of 61 per cent over 2000, bringing the accumulated profit to more than IDR 280 billion after 10 consecutive years of profitable growth.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection product and wealth management services. Funds under management by Manulife Financial were CAD $139.8 billion as at June 30, 2002.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Further information about Manulife Financial can be found on the Internet at www.manulife.com.
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