Manulife HK, Macau reports strong growth in 2023
Manulife Hong Kong and Macau has reported strong growth in annualized premium equivalent (APE) sales, core earnings, new business value (NBV) and new business contractual service margin (CSM) for the fourth quarter and full year of 2023.
Fourth quarter and full year APE sales increased by 55% and 58% to HKD1.7 billion and HKD7.1 billion, respectively, compared to the same periods in 2022.
The growth in APE sales in both periods reflected strong growth in its agency, broker and bancassurance channels, primarily driven by a return of demand from mainland Chinese visitor (MCV) customers following the reopening of the border between Hong Kong and mainland China.
“We remain committed to advancing our health and protection offerings to both domestic and MCV customers, and we are proud to have expanded our partnership with quality health providers,” said Patrick Graham, CEO of Manulife Hong Kong and Macau.
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