TORONTO – Manulife Financial Corporation (MFC) booked insurance sales of US$37 million in 4Q13 for Indonesia operation, increased 30% compared with 4Q12 driven by sales through Bank Danamon and a successful year end agency campaign.
Full year 2013 sales were US$120 million, an increase of 18 per cent compared with 2012 driven by sales generated by Bank Danamon.
MFC also recorded wealth sales of US$82 million, decreased by 78% compared with 4Q12 due to
the impact of unfavourable markets on single premium unit-linked and mutual fund sales.
Full year 2013 sales of US$974 million were in line with last year. A significant rise in local interest rates, a drop in the local equity market and the depreciation of the Rupiah in the second half of 2013 caused many investors to delay investment decisions.