Manulife seeks China pensions partner, plans Philippine wealth office
The Canadian insurer wants to build on its mainland life insurance and funds JVs by entering the pensions market. It is also looking at putting a wealth management branch in Manila.
Canadian insurance group Manulife is eyeing opportunities on multiple fronts in Asia, including seeking a partner with which to enter the Chinese pensions market and planning to set up a wealth management office in Manila.
The firm, which already has a life insurance business in the Philippines, is working towards getting a licence for an investment trust company next year, when a local chief executive will be appointed.
In China, while Manulife would like to have sole ownership…
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