Manufacturers Life Insurance Co. (Phils.) Inc. (Manulife), a wholly-owned subsidiary of the Canadian insurance giant, is taking steps to seize various opportunities arising from the anticipated modest recovery of the Philippine economy this year including considering expansion in Cagayan de Oro City.
The company officials said they expect sales to grow between 30 to 40 percent this year on the back of a recovering economy.
In 2009, Manulife’s sales hit P3.6 billion. In the first quarter of this year, Manulife’s total sales grew 78 percent compared with the same period in 2009.
Manulife will open three new branches in Isabela, Nuvali in Laguna and Ortigas and they are also eyeing additional branches and personnel in Cebu and Davao. In addition, aside from Cagayan de Oro City, Manulife is also targetting the cities of Iligan and General Santos.
with article by Ted Torres from Philippine Star