Manulife Singapore Sees Robust Gains, Sets Up New Centre In Tampines

Vanessa Doctor

7 June 2011

Manulife Singapore, which provides services including wealth management, saw its earnings rise 8 per cent over the last two quarters, due mostly to strong sales in premium investment linked and high net worth plans.

"We closed the year 2010 with remarkable sales in Q4. The momentum continued in Q1 this year to reach total weighted sales of approximately $20 million. April saw another strong month with regular premium sales growth of 38 per cent over March 2011. If this persists, we expect 2011 to be a very positive year," commented Annette King, the president and chief executive of Manulife Singapore, in a statement.

The positive outlook strengthened the company's plan to expand to the east of Singapore with a new branch in Tampines, one of the largest residential developments in the city-state. To date, Manulife Singapore has as agency force of around 900, with a view to double staff numbers by 2014.

The new Tampines office comes with training facilities and event rooms for financial planners and their clients, as well as a children's room for clients who bring children along. Conveniently, the new branch is called the "Financial Advice and Customer Service Centre."