Manulife Indonesia

Manulife Financial is the majority stakeholder of Manulife Indonesia, a joint venture operation established in Indonesia in 1985. Today, Manulife Indonesia is one of the country's largest life insurance companies.

Structure of Manulife Indonesia

• Manulife Indonesia is majority-owned and controlled by Manulife Financial, which holds a 71 per cent share. In 2000, Manulife increased its shareholding to 71 per cent, substantially up from 51 per cent, demonstrating Manulife’s commitment to its policyholders, employees and to the Indonesian market. The minority stakeholders in the joint venture are PT Tirta Dhana Nugraha with 20 per cent and the International Finance Corporation, a subsidiary of the World Bank, with a 9 per cent share.
  
• Headquartered in Jakarta, Manulife Indonesia operates its business through a network of 70 branches in 35 cities throughout Indonesia. Manulife carries this out with the support of almost 5,000 staff and full-time agents, who serve more than 700,000 customers.
  
• Manulife Indonesia operates three main business units: individual insurance, employee benefits (pension & group life and health) and mutual funds.
  
• John D. Harrison is President Director of Manulife Indonesia.

Recognizing Business Excellence

• Manulife Indonesia was chosen as “Indonesia’s Most Admired Company 2003” in the Insurance category by Frontier Marketing Research & BusinessWeek magazine.
  
• For the year 2003, Manulife Indonesia was awarded “The Best Investment Manager” in the Indonesian mutual funds market by Investor magazine.
  
• In June 2003, Manulife Indonesia’s Communications Team was awarded the “Gold Quill Award of Excellence” by the International Association Business Communicator’s (IABC) for the Issues Management category.
  
• Manulife Indonesia was named “Life Insurance Company of the Year” in 2002 by Asian Insurance Review, the premiere insurance publication in Asia, together with The Review – Worldwide Reinsurance.
  
• For the year 2002, Manulife Indonesia was ranked as one of the best life insurance companies in Indonesia, in an annual insurance company rating competition organized by Infobank and Investor magazines. The Company was also named first in the ‘Life Insurance - Indonesian Customer Satisfaction Index 2002’ category by Frontier Marketing Research & SWA magazine in September 2002.

• In the Indonesian marketplace for the year 2003, Manulife Indonesia ranked as the #1 provider of Indonesia investment management, #1 pension administrator (based on assets), #2 provider of Indonesian pension programs (based on assets), and one of the largest insurance companies in Indonesia.
  
• Manulife Indonesia was first to announce a Risk Based Capital (RBC) of 132 per cent in late 2000 – far greater than the government’s minimum requirement of 120 per cent by 2004. Today, Manulife Indonesia has an RBC of 136 per cent.
  
• In Indonesia, Manulife has a solid history of strategic acquisitions. In 2003, Manulife acquired Zurich Life Insurance Indonesia & ING Indonesia Life Insurance. In September 2001, Manulife Financial completed the acquisition of The Principal Financial Group’s Indonesian operations. In 1997 and 1998, Manulife Indonesia carried out the purchase of two competitor companies – AMP Panin and Ongko Life – the first such transactions in Indonesia at that time.
  
• In May 2000, Manulife Indonesia announced a significant purchase of recapitalization bonds issued by the Republic of Indonesia. This transaction was the first such bond purchase by a non-bank institution, demonstrating Manulife’s support of the efforts being made by the Indonesian Government to recapitalize and reflate the economy.
  
• In 1997, Manulife Indonesia became the first insurer to introduce unit-linked products to Indonesia, setting a trend for other companies. This was followed in 1999 by the introduction of the first-ever product in Indonesia tailored exclusively for females.
  
• In 1998, as a show of commitment to Indonesia, and seeing the opportunity caused by other companies exiting the market, Manulife became the first life insurer to launch a range of mutual funds. Manulife Asset Management Indonesia (MAMI) was established to manage these assets. Today, MAMI is the largest investment manager in Indonesia based on data supplied by Bapepam (the Indonesian Securities Commission).
  
• Yayasan Manulife Peduli (Manulife Care Foundation), is the Company’s charitable foundation that funds education and medical treatment programs for Indonesian children, crisis relief for victims of floods and earthquakes, a small business program to assist female entrepreneurs, as well as sponsoring blood banks and food banks for Indonesia’s needy. Manulife Peduli is currently rebuilding two elementary schools in Sukabumi-West Java.

Providing a broad range of innovative protection and investment solutions for its clients, Manulife Indonesia is firmly committed to achieving its goal of becoming the premier provider of life insurance and wealth management products in Indonesia.

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