SINGAPORE, 18 May 2007 - Manulife Singapore and MSIG Insurance Singapore are partnering to provide a customised range of general insurance products exclusively for Manulife’s customers. The three-year agreement marks the first time in Singapore that two significant players from the life and general insurance industries have joined forces.
Initially, three products - ManuHome for home contents, ManuAuto for motor and ManuTravel for travel insurance - will be introduced. They are targeted at those who deeply value their way of living. These products come with unique features, in addition to the conventional ones.
For instance, ManuAuto will offer a loan difference benefit covering the shortfall between the outstanding vehicle loan and its market value up to $100,000 in the event of total loss, and emergency medical evacuation of the policyholder for accidents while driving in Malaysia. Whilst, under ManuHome, homeowners can be reassured that, in the event of their accidental death, up to 25% or $50,000 (whichever is lower) of their home loan is covered. ManuHome even extends cover for the accidental death of policyholders’ cats or dogs.
A new service centre has been set up at Manulife’s premises and is manned by MSIG Insurance staff to support administration and enquiries from Manulife representatives.
Darren Thomson, President and Chief Executive Officer of Manulife (Singapore) Pte Ltd, said, "We continually strive to provide our customers with one-stop financial solutions to meet all their financial needs. With this partnership, our customers will have an even wider choice of plans to select from. This is yet another form of enhanced service, in line with our mission of customer focus." He continued, "Like Manulife, MSIG is known for its premium customer service. We are confident that the bundle of offerings will delight our customers and financial planners alike."
Margaret Yang, Chief Executive Officer of MSIG Insurance (Singapore) Pte Ltd, said, "To be notches above the competition, one way is to team up with the best. Synergies, be it through partnerships or innovative distribution channels, will pave the way ahead. Manulife commands an enviable international standing in a distinct life insurance sector. This, we hope, will be the beginning of more great things to come. We will tailor our products to the varying needs of Manulife’s customers."
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$426 billion (US$370 billion) as at March 31, 2007.