HONG KONG (Yosefardi) – Manulife reported insurance sales of US$33 million in Indonesia in the second quarter of 2013, grew by 31% from the corresponding period of last year.
According to the company’s financial statement submitted to stock exchange of Hong Kong Thursday (Aug 8), the 31% growth was driven by an expanded agency force and strong sales through bank distribution channels.
Asia Division second quarter 2013 insurance sales of US$254 million, meanwhile, were 31% lower than the same quarter of 2012 due to unusually high level of sales in advance of tax and product changes in the prior year.
Insurance sales in Japan fell sharply by 50% to US$97 million, while in Hong Kong it dropped 27% to US$59 million.