TORONTO (Yosefardi) – Manulife Financial Corporation reported Indonesia insurance sales of US$27 million, consistent with last year as the 44% growth in Bank Danamon sales was offset by lower sales from other bank partners.
While Indonesia wealth sales was US$137 million, decreased by 12% due to lower single premium unit-linked product sales from the bank channel, partly offset by higher pension sales.
Asia Division continues to execute on Manulife’s longer-term growth strategy by expanding agency and bank channel distribution capacity. Contracted agents stood at approximately 54,600 as at September 30, 2013, a six per cent increase from September 30, 2012, with double digit growth in Indonesia and Vietnam.