Manulife Indonesia has been awarded the “Life Insurance Company of the Year” award for 2002 by Asian Insurance Review.

The award is based on several criteria:

> demonstration of commitment to product innovation

> research into and ability to respond to customers’ and society’s changing needs

> consistently strong financial performance

> strong management and a consistently high standard of customer service.

Based on these criteria, a panel of 16 judges from across Asia and worldwide, ultimately selected Manulife Indonesia as the winner of this category for 2002.

“We are very proud of this hard- earned achievement,” said John Harrison, president director, Manulife Indonesia at the awards dinner.

Also in Asia, Manulife-Sinochem Life Insurance Co. Ltd. was granted approval by the China Insurance Regulatory Commission to officially open its branch office in Guangzhou, China. This is the first branch license granted by CIRC to a foreign invested life insurance company.

“This is a historical moment for the life insurance industry in China and for Manulife; we welcome this great news,” said Victor Apps, executive vice president and general manager of Manulife Financial, Asia. “Guangzhou presents a fantastic opportunity for growth of our China business. We look forward to providing our new customers with the innovative products required for them to meet their financial objectives.”

Manulife-Sinochem is a joint venture company between Manulife (International) Limited (51%) and China Foreign Economic and Trade Trust & Investment Company, a member of the Sinochem group (49%).