Manulife Celebrates 25th Anniversary of Initial Public Offering with Closing Gong Ceremony at HKEX

HONG KONG,Oct. 21, 2024/PRNewswire/ -- Manulife has marked the 25th anniversary of its initial public offering with a grand closing gong ceremony at Hong Kong Exchanges and Clearing Limited (HKEX). This milestone event not only celebrates a quarter-century of public trading inHong Kongbut also adds to Manulife's legacy of over 125 years of growth alongside theHong Kongcommunity. 

Since becoming the first international life insurance company to be listed on the HKEX in 1999, Manulife has transformed over the past 25 years into one of the top leaders in the financial services industry, both on a global scale and inHong Kong, setting the bar for the entire industry. Manulife's commitment to growth and innovation inHong Kongis evident, as it currently serves over 2.5 million customers acrossHong KongandMacauand is the No.1 MPF provider inHong Kongwith overHK$342 billionin assets under management^[1]. The company has also established multiple successful bancassurance partnerships and was among the first multinational corporations to relocate offices to Kowloon East, a new commercial hub inHong Kong.

"While we had already been operating inHong Kongfor more than 100 years by the time of our listing, what we have achieved since then makes it an important event in our history worth celebrating,"saidPhil Witherington, President and CEO for Manulife Asia."Twenty-five years on, our market cap has grown from aroundHK$47 billionto more thanHK$400 billionon HKEX, delivering a total return of over 1,000% for our shareholders. Just as importantly, we are proud to count 1 in 3 people inHong Kongas our customers, making us an integral part of the city's fabric. We feel privileged that the Hong Kong SAR has been a dynamic base for our growth acrossAsiaand remains a cornerstone of our regional business."

The ceremony brought together a distinguished array of attendees, includingPhil Witherington, Manulife's President and CEO forAsia;Patrick Graham, Manulife's CEO forHong KongandMacau; other members of Manulife'sAsiaandHong Kongsenior management teams, and 200 of Manulife's top-performing agency leaders inHong Kong. The event was further graced by the presence of three esteemed guests:Carlson Tong, Chairman of HKEX; the Honourable KP Chan, a member of both the Executive Council and Legislative Council ofHong Kong; andMarty Lui, Executive Director of Long-Term Business at the Insurance Authority ofHong Kong.

"As we celebrate this significant milestone of our IPO anniversary, we reflect on our remarkable journey of growth inHong Kongover the past 25 years, expanding our workforce more than fivefold to 2,600 people and partnering with more than 10,000 professional agents,"saidPatrick Graham, CEO of Manulife Hong Kong andMacau."Our success underscores the unwavering trust our customers have placed in us, the dedication of our employees and our professional agency force, the enduring support of our long-term bank partners, and the vibrant business environment thatHong Kongprovides." 

As Manulife looks to the future, it remains committed to growing alongsideHong Kongand reinforcing the city's position as a leading international financial centre. The company will continue to leverage its winning team and culture to meet the evolving needs of its customers, helping them live better, healthier lives through innovative offerings and the transformative power of technology. Manulife is excited by the immense potential that lies ahead, and eagerly anticipates the next chapter of its transformation inHong Kong, continuously raising the bar for its colleagues, customers, and the industry at large.

About Manulife Hong Kong

Manulife Hong Kong has been a trusted name for more than 125 years. Since our operations started inAsiain 1897, we have grown to become one of the top-tier providers of financial services, offering a diverse range of protection and wealth products and services to over 2.5 million customers inHong KongandMacau. We are committed to helping make decisions easier and lives better for our customers.

Manulife Hong Kong, through Manulife International Holdings Limited, owns Manulife (International) Limited, Manulife Investment Management (Hong Kong) Limited, and Manulife Provident Funds Trust Company Limited.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters inToronto, Canada, we provide financial advice and insurance, operating as Manulife acrossCanada,Asia, andEurope, and primarily asJohn Hancockinthe United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as'MFC'on theToronto,New York, and the Philippine stock exchanges, and under'945'in Hong Kong. 

Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

^[1]MPF market share is measured by share of assets under management and estimated net inflows by scheme sponsor. Source: Mercer MPF Market Shares Report as ofJune 30, 2024.

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SOURCE Manulife Hong Kong