Manulife agent numbers in China, Vietnam slide on pandemic challenges, regulation [Reuters]
Manulife Financial Corporation (MFC)
Last manulife financial corporation earnings: 2/12 05:00 pm
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Source: Reuters
to the lowest since the fourth quarter of 2019, due to increased regulation and lingering pandemic challenges, contributing to a decline in sales in the key region. The number of agents in Manulife's "Asia Other" segment, which consists of mainland China, Singapore, Vietnam and other emerging markets, fell to 99,567 in the three months ended June 30, from 114,309 in the previous quarter. These markets accounted for 87% of all agents in Asia. Talent shortages that have hit most sectors globally have been exacerbated in some markets in Asia - where Manulife, Canada's biggest life insurer, aims to derive half of all core earnings from by 2025 - by local factors including more stringent regulations. Manulife Asia Chief Executive Damien Green attributed the decline to economic headwinds due to the pandemic, a push to boost the professionalism of agents, and the introduction of new product and sales practice regulations in China. "We've seen people return to their home provinces t
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MFC
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MFC
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- 4/25/24 - Form 6-K
- 3/25/24 - Form 6-K
- 3/22/24 - Form 6-K
- MFC's page on the SEC website