Manulife Financial Corp. (MFC)
UBS Global Financial Services Conference
May 8, 2012 9:20 am EST
Robert Allen Cook – Senior Executive Vice President & GM-Asia
Peter Rozenberg – Analyst, UBS Securities Canada
Peter Rozenberg – UBS Securities Canada
Hi we’re going to start. My name is Peter Rosenberg, Canadian Financial Services Analyst at UBS. I have the pleasure of introducing Robert Cook, Senior Executive Vice President and General Manager of Asian Operations for Manulife, since 2007. Robert has been with Manulife for over 30 years holding management positions in the Company’s Canadian, International and Corporate Divisions.
Manulife is the largest insurance company in Canada and one of the largest in North America with a market capitalization of $22 billion. Notwithstanding a difficult interest rate environment, the company has made excellent strides in reengineering its products, improving pricing, improving mix, and substantially reducing risk.
Manulife’s Asian operations currently account for 34% of adjusted earnings and a significant 49% of insurance sales in 2011. With Asia a key focus, I present Bob Cook.
Robert Allen Cook
Well thank you very much, Peter. It’s a pleasure to join you all here in New York from my home base, which is in Hong Kong, which is Manulife’s regional headquarters in Asia. I am mostly going to talk to you about Manulife’s strategy in Asia, but I just want to get started with, to put it in context of our overall corporate strategy. What we are trying to do is reformulate the direction of growth that we are taking the company and we’ve been engaged in that process for the last two years to three years.