Manulife Singapore to double headcount by 2014
By Linette Lim | Posted: 02 June 2011 2042 hrs
SINGAPORE: Insurer Manulife Singapore plans to double the headcount of its agents and financial advisers by 2014. The Canadian-based insurer said it is investing S$11 million over the next six years in Singapore. This is in line with its expansion plans in Asia.
Manulife Singapore posted an 8 per cent growth in total weighted premium for the first quarter ended March 31. This refers to total sales of new regular and single premium insurance policies.
Regular premium products require periodic premium payments, while single premium products require only a lump sum payment from the policyholder.
Total weighted premium sales for the quarter was S$20 million. Its sales were boosted by single premium investments and high-net-worth plans.
Last week, it moved into a new financial advice and customer service centre. The 29,000 square feet centre is located in Tampines.
Annette King, President and CEO of Manulife Singapore, said: "We have opened a new office in Tampines, and we will also be opening a new office in Bras Brasah later in the year. We have about 900 agents already, we're planning to double that number."
-CNA/ac
- wong chee tat :)
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