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    MFC   CA56501R1064

MANULIFE FINANCIAL CORPORATION

(MFC)
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Delayed Toronto Stock Exchange  -  04:00:00 2023-06-08 pm EDT
25.73 CAD   -0.73%
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Manulife Financial : Cambodia and Wing launch a new business partnership to provide fast and convenient life insurance premium payment service to customers

10/19/2014 | 12:48am EDT
For Immediate Release October 18, 2014 Manulife Cambodia and Wing launch a new business partnership to provide fast and convenient life insurance premium payment service to Manulife customers

Today Manulife and Wing signed an agreement that officially launches a long-term partnership that provides Manulife customers faster and more convenient means for paying for their life insurance premiums through Wing's agents and mobile networks across the nation.

At the event, Mr. Robert Elliott, CEO and General Manager of Manulife Cambodia said: "Our partnership with Wing highlights our commitment to our customers by making it easier for them to transact with our company and easier to financially protect their loved ones from unexpected events. This is in-line with our journey to become a more customer centric company. We look forward to working with Wing."

Manulife Cambodia has provided thousands of Cambodian families with strong financial products to protect their financial future. Manulife's strong commitment and investment in the partnership with Wing will benefit Cambodian customers with great service through this new and innovative premium payment method.

Mr. Anthony Perkins, CEO of Wing, said, "Our partnership with Manulife will give Cambodian customers the most convenient means to pay their insurance premiums. Wing's mission is to provide every Cambodian with convenient access to mobile financial services relevant to, and for the improvement of, their daily lives. While the insurance industry in Cambodia has grown significantly since the promulgation of the Insurance Law in 2000, life insurance is a relative newcomer to the Cambodian market, with first efforts commencing in 2012. Beyond the initial barrier of financial education, that will naturally take time to improve by leveraging the well-established Wing network of over 2,000 Wing Cash Xpress outlets nationwide, Manulife will undoubtedly overcome this obstacle, which in turn will result in Cambodians having convenient touch points and access to important financial products to protect their families, along with a positive impact to the economic growth of the country. Wing is very excited to help Manulife bring its product within the grasp of all Cambodians and look forward to a healthy partnership to help the life insurance industry mature swiftly for the benefit of the nation."

Starting from today, Manulife customers can pay insurance premiums using their mobile phones or Wing machines set up in its branches across Cambodia. For further information about premium payment through Wing system, please contact Wing Customer Service via 023 999 989 or Manulife Customer Service via 023 965 999.

About Wing
Wing launched commercially in January 2009, and is the only mobile oriented financial institution in Cambodia. Wing is committed to bringing a full range of basic financial services, either directly, or through partnership, to every Cambodian household, for the improvement of the Cambodian economy and population. With a network of over 2,000 Wing Cash Xpress outlets spanning every district of the country, Wing fulfils every Cambodian's basic financial needs, on their doorstep.

About Manulife (Cambodia) PLC
Manulife Cambodia PLC commenced operation on 28 June 2012. It is the latest market entry by Manulife Financial, one of the world's leading life insurance companies. As the first wholly foreign-owned life insurance company in the kingdom, Manulife Cambodia is committed to providing clients with much needed financial protection products and services.

About Manulife
Manulife is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife and its subsidiaries were approximately C$637 billion (US$597 billion) as at June 30, 2014. We operate as John Hancock in the U.S. and as Manulife in other parts of the world.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com

For media enquiries, contact:

Wing (Cambodia) Ltd:
Naro Chan
Marketing Manager
Wing (Cambodia) Ltd.
Tel: +855 12 470 076
Email: naro.chan@wingmoney.com

Manulife Cambodia:
Chum Noy
Work-site Marketing Manager,
Manulife (Cambodia) PLC
Tel: +855 12 714 211
Email: noy_chum@manulife.com

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Financials
Sales 2023 67 073 M 50 227 M 50 227 M
Net income 2023 5 697 M 4 266 M 4 266 M
Net cash 2023 19 924 M 14 920 M 14 920 M
P/E ratio 2023 8,29x
Yield 2023 5,72%
Capitalization 47 333 M 35 445 M 35 445 M
EV / Sales 2023 0,41x
EV / Sales 2024 0,46x
Nbr of Employees 40 000
Free-Float 99,9%
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Mean consensus HOLD
Number of Analysts 16
Last Close Price 25,73 CAD
Average target price 28,81 CAD
Spread / Average Target 12,0%
EPS Revisions
Managers and Directors
Roy Gori President, CEO & Non-Independent Director
Philip Witherington Executive Vice President & General Manager
Donald R. Lindsay Chairman
Shamus Edward Weiland Chief Information Officer
Rahul M. Joshi Chief Operations Officer
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