(May 1 – 15:20 ET) – Manulife Financial is well prepared to prosper company president and CEO Dominic D’Alessandro, told shareholders and policyholders today at the firm’s second annual meeting.

“We are well diversified both by product offering and by geography. We have established important operations in some of the most attractive and exciting markets in the world. We expect that the advantage of our diversified earnings will become particularly apparent this year,” D’Alessandro said, noting that despite softening of equity markets, Manulife remains committed to meeting its 15% average targets for return on equity and growth in earnings per share.

D’Alessandro told shareholders that Manulife wants to build a company that measures up to the best in the world. However, given Canada’s small population base, achieving the company’s vision requires “that we maintain and expand our already significant international presence.”

Manulife’s U.S. operations now account for more than two-thirds of the Company’s premiums and deposits. That said, D’Alessandro reminded shareholders that, “We believe it would be a serious mistake for us to become marginalized in our home market and quite simply we intend to do whatever is necessary to ensure that this doesn’t happen.”

D’Alessandro also reviewed the important trends underway that favour the continued growth of Manulife. He called the consolidation of the financial services industry in Canada is “an important trend that I believe holds promise for our company.”.

D’Alessandro also said that Manulife is well-positioned to benefit from an aging population., the trend to privatization, and globalization among financial services.

“Manulife Financial now operates in nine countries and territories in Asia — in Hong Kong, Indonesia, the Philippines, Singapore, Taiwan, Macau, and in its most recently established businesses in the People’s Republic of China, Vietnam and Japan. “The growth prospects for each of these ventures are truly remarkable,” said Mr. D’Alessandro. “However, in the near term at least, it is our Japan subsidiary that will have the most significant impact on our financial results.”