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Manulife-Sinochem Further Expands In China

To help meet the savings, protection and investment needs of customers across China

Manulife-Sinochem Life Insurance, a joint venture between Canada-based Manulife and China Foreign Economic and Trade Trust & Investment, has received approval from the China Insurance Regulatory Commission (CIRC) to operate in the Province of Tianjin, one of China’s fastest growing provinces.

It has been reported that the new branch license will expand Manulife-Sinochem’s operational presence in China to some 37 cities across 11 provinces. Manulife-Sinochem currently has about 11,500 professionally trained staff and agents serving over 450,000 customers across China.

Donald Guloien, president and CEO of Manulife Financial, said: “Manulife continues to see excellent opportunities to expand as we apply our products and skills to help meet the savings, protection and investment needs of customers across China. We are delighted with the positive support we have received from the Canadian and Chinese governments and our outstanding partner, Sinochem.”