Manulife Japan Announces FY2011 Financial Results – Record Sales at Expense of Profits

Manulife Japan Announces FY2011 Financial Results – Record Sales at Expense of Profits – The title of the feed item

Tokyo – Manulife Life Insurance Company (“Manulife Japan”; Head Office: Chofu-shi, Tokyo; President and CEO: Craig Bromley) announces its financial results for the 2011 Japanese fiscal year ended March 31, 2012.

During the period in review, Manulife Japan achieved record sales growth by continuing to focus on its core strategy of diversifying its sales channels and product lineup. The Company increased the number of agency partnerships of its Managing General Agents (MGA) channel to 329, and increased the number of distribution partnerships of its Financial Institutions channel to 42 as of the end of March 2012. During the period the Company also launched four new products through multiple distributors and channels.

Annualized new business premium for individual insurance and individual annuity insurance combined grew to 61.8 billion yen, up 27.2% from the previous year, reaching a record high since the start of the Company’s business operations in 1999. Annualized new business premium for individual insurance for the period also stood at a record level of 51.5 billion yen, with a 24.5% increase compared to the previous year. The strong new business growth during the period also contributed to an increase in total annualized inforce premium for individual insurance and individual annuity insurance to 326.3 billion yen, up 11.9% compared to the end of the prior fiscal year.

In terms of profit-related indicators, Manulife Japan posted a loss of 6.3 billion in Basic Earnings for the period in review, with Operating Income and Net Income showing losses of 5.5 billion yen and 3.4 billion yen, respectively. This was due to increased new business expenses attributable to the strong sales growth during the period, as well as a decision to make a provision to policy reserves, using the opportunity provided by the Company’s successful steady sales growth over the past several years. The Company’s solvency margin ratio stood at 973.2% as of March 31, 2012, a continuing high level indicating the Company’s solid financial strength.

Craig Bromley, President and CEO of Manulife Japan, made the following statement regarding the FY2011 financial results:

“Manulife Japan continues to focus on the strategic diversification of its sales channels and the offering of a wide range of products that meet customers’ needs. During the period, these efforts enabled us to achieve a leap forward in sales performance and to further expand our business operations. Going forward, as a strong, reliable, trustworthy and forward-thinking company, we will continue to take a customer-centric approach in providing quality products and services.”

About Manulife
Manulife Life Insurance Company (“Manulife Japan”) is a member of the Manulife Financial Group.

Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients with strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were $512 billion (US$512 billion) as at March 31, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at manulife.com. Manulife Japan can be found on the Internet at www.manulife.co.jp.

Media Contact
Saeko Yoshioka
Communications Department
Manulife Life Insurance Company
Tel: 042-442-7180

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Manulife Financial Corporation completes Preferred Share offering to raise $250 million

Manulife Financial Corporation completes Preferred Share offering to raise $250 million – The title of the feed item

May 24, 2012

Manulife Financial Corporation completes Preferred Share offering

Toronto – Manulife Financial Corporation (“Manulife”) today announced that it has completed its offering of 10 million Non-cumulative Rate Reset Class 1 Shares Series 9 (the “Series 9 Preferred Shares”) at a price of $25 per share to raise gross proceeds of $250 million.

The offering was underwritten by a syndicate of investment dealers co-led by Scotiabank, CIBC and RBC Capital Markets. The Series 9 Preferred Shares commence trading on the Toronto Stock Exchange today under the ticker symbol MFC.PR.I.

The Series 9 Preferred Shares were issued under a prospectus supplement dated May 16, 2012 to Manulife’s short form base shelf prospectus dated September 3, 2010.

The Series 9 Preferred Shares have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a “U.S. person” (as defined in Regulation S under the Securities Act) absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States and any public offering of the securities in the United States must be made by means of a prospectus.

About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients with strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were $512 billion (US$512 billion) as at March 31, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at manulife.com.

Media inquiries:
Michael May
519 594-2660
michael_may@manulife.com
  Investor Relations:
Anthony G. Ostler
416 926-5471
anthony_ostler@manulife.com

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Manulife Financial Added to The Banker Who Saved His Soul

Manulife Financial Added to The Banker Who Saved His Soul – The title of the feed item

The Banker Who Saved His Soul welcomes Manulife Financial to our list of monitored financial institutions.

Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canadaand the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services. These products and services include individual life insurance, group life and health insurance, long-term care services, pension products, annuities, mutual funds and banking products. We provide asset management services to institutional customers worldwide and offer reinsurance solutions, specializing in property and casualty retrocession.

The Company operates in Canada and Asia through the brand name “Manulife Financial” and in the United States primarily through the brand name “John Hancock“.

In 2009, Dominic D’Alessandro as President and CEO of Manulife Financial retired and was succeeded by Donald Guloien, the Chief Investment Officer. Shortly before his departure, facing a shareholder revolt as the firm posted a quarterly loss for the first time in its public history, D’Alessandro modified his retirement package; the restricted units would only vest for a total of $10 million if the shares reached $36 by the end of 2011 and if shares only hit $30 he would receive $5 million. Unfortunately, the first initiatives under Guloien’s leadership were a dividend cut and an equity offering to bolster Manulife’s capital levels, which kept the share price too low for D’Allessandro to vest. With the departure of D’Alessandro Manulife’s culture was forever changed.

Manulife continues to suffer from lack of a solid strategic plan well received by the investment community. In addition, the belief is that Manulife also lacks quality strategic marketing individuals to properly position and promote the brand.

Regardless, of its shortcomings Manulife continues to expand internationally.

 

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CIBC Decreases Residential Mortgage Rate by 0.10 per cent for 5 year fixed-rate, closed mortgage

CIBC Decreases Residential Mortgage Rate by 0.10 per cent for 5 year fixed-rate, closed mortgage – The title of the feed item

CIBC Decreases Residential Mortgage Rate

TORONTO, May 25, 2012 /CNW/ – CIBC (TSX: CM); (NYSE: CM) today announced the following mortgage rate change, effective May 26, 2012:

5 year Fixed-Rate, Closed Mortgage: 5.34 per cent (decrease of 0.10 per cent)

CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.

For further information:

Geoff Dillon, CIBC, 416-309-3266, geoff.dillon@cibc.com


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Be A Networking Pro and “Enlight” Experience

Thursday March 22,2012 was a great experience to speak  to the Chinese Professionals Association  in Toronto at the Jack Astor’s in Downtown Toronto.
It  was few months ago that I was at the same location attending a social media panel discussion on pros and cons of being on social media with Promod Sharma and Huge Reilly.  It was a evening with interesting discussion and thought provoking  questions on how social media is evolving in the 21st century.
Before and after the event we had opportunity to network and as I always say “be prepared for the opportunity” you never know who you are going to meet. That evening I met Peter Zhou Young Professional Division Chinese Professionals Association of Canada. Peter and I had a great conversation on the art of networking and he was very interested in my book and how to become a networking success.
A few weeks later I got an invitation to speak for Peter’s organization on how they coined “Be A Networking Pro”   –  short, sweet and to the point, I like that!   We had some telephone and email communication with the public relations department of The Chinese Professionals Association to finalize the presentation.  A request for some prizes were made.
It has been a busy week and I’m looking forward to sharing networking insights and experiences with these young professionals.
As I arrived I was greeted by Peter Zou and James Shi, the master of ceremonies for the evening.  They had a theatre style set up and I had contributed a portable screen for the presentation.
They were expecting a solid attendance for the event and they arrived with enthusiasm and excitement. Introductions were made, and I was ready to share my experiences becoming a networking success.
I shared a brief article on “Three Key Task To Success” that I had written for my Alumni Centennial  College, and the impact these strategies can make on their journey.  Then I ventured into the system of becoming a networking success and shared the P-A-R system – simple and effective strategies to follow to create an effective system of communication and getting results in networking conversations (link is below on chapter available online).
I shared insights and experiences of how to use the P-A-R system and ways to create positive engagement, the art of communication language with technology (3-T’s),  and the ability to interpret non-verbal  (handshake) and verbal communication.
Had a special guest speaker in Hyosum Kim  from the Toronto Millionaire Mind Ambassadors  talk about the book Secrets of the Millionaire Mind by T. Harv Eker and the upcoming seminar happening on May 27-29 in Toronto. (see details below)
We had great Q & A session at the event where we talked about body language, how angles are important in networking, and how to deal with different networking situations. (see video link below)
Another great experience I viewed   was a networking  game the audience participated in for 30 minutes – it  gave them the opportunity to learn, do and apply what they had learned.
There was a delicious dinner served at the end by Jack Astor’s with assorted Nacho’s and finger foods. We also had numerous participants approach me individually with comments and questions regarding networking and business, life and success.
The Chinese Professionals Association of Canada has numerous events and initiatives that are promoted and their website is  www.chineseprofessionals.ca  for more information.
                                           Antonio Ding,Michelle Ji and Jim Pagiamtzis
Body Language example and much more.
How to create a network at CPAC

Journey to Ingersoll

The Elmhurst Inn  & Spa in beautiful  Ingersoll Ontario-  what a perfect place to share information  with the  Workplace Planning Group board of Directors  of f on a weekend retreat.
I would be going there to explain “How Email and Social Media  Work Hand-in-Hand to Grow Business”, this being a  critical part of my program covering online strategies. The trip would take an hour  and forty-five minutes. It  looked to be a gloomy Saturday morning drive, with rain in the forecast-but at 8 am  there wasn’t  a drop in sight.
 This would be my first visit  to Ingersoll though I have been London for numerous conferences, as well as Woodstock for a wedding. Ingersoll is right in the middle of the two. Getting out of the city is  always a great thrill for me: the new sights and sounds of the world, the expansion o f infrastructure, from roads to new buildings, and transportation trucks going east and west on the 401 with plenty of products headed for various destinations, all showing  that the economy is alive and well.
Whenever  I’m on the road  I like to play a game that involves looking  out for  great licence plates and trying to figure out what they mean. Even though I have a CD playing most of the time my  visual focus is always on the road,  On this trip it was a surprise to see  black Nissan zipping by with the place WUT FUN. He was zipping by too fast to honk! I saw three water towers and lots of horses and truck  carrying new 2012 Mustang GTO’s  (heavy and expensive payload)
Of course I had my trustworthy  GPS system guiding  my every move, but in this case  “Kate” remained silent most of the trip (yes it has name-but that’s a story for another time). However as   I neared my destination increased  Kate’s volume  so she can guide me to the Elm Hurst Inn, and as soon as I had exited the highway she announced “you have arrived”
 “Where?” I asked. But of course , she didn’t answer.
So I continued  straight and stop at a local gas station to look at my back-up map which is when I realized  had just passed the entrance. I went  into  the gas station to find out where the centre of town was  then doubled back to locate the hotel. Since I had arrived bit early I  headed  back centre of Ingersoll to get a coffee, stretch and get mentally prepared for the presentation.
Tim Horton’s was the busiest place in town that morning the drive-thru was busy and walk-in traffic was making  it a hectic place for everyone to get  their  morning breakfasts. But , hey,  I won a free donut, so it was worth it! (Mind you, I had to drive all the way to Ingersoll to win it)
I started back to the  Elm Hurst Inn. This time taking the opposite way, I found the exit easily.
On arrival , I walked to the main desk and was advised  that the meeting  was in the basement in the Heritage door, so I  took a mini elevator one floor down and made my way there.   To my surprise there was huge portable screen and projector  set up with lots of space to speak and move around.
I proceeded to meet some of the board member of the Workforce Planning Group and get  acquainted with  how they wanted to use social media. There group  included a real  cross-section of types: some were social media- savvy users, others were online but very limited experience. At  the table to the  left of where I was standing they all had  blackberry tablets (“tech corner” is what I  called them), few others had Blackberries  many  were comfortable with social media.
Had handed out my business cards and advised everyone that they could connect via LinkedIn (many of them were users) Twitter and Facebook.  At one point one of the participants following me and had one my followers  following them, great to see on –line networking happening quick!
I had 90 minutes to present my material, and my presentation had three parts to it.  After each  section there  was a  brief Q &A regarding the topics and there were some  great questions being  asked.  We got into  how to use :Constant Contact with Social Media”  to do a successful email marketing campaign, and how content is an important  way to engage and interact  with your network. We  shared key strategies , and the   two –way conversation is one  of the  goals  that is crucial to growing and managing your business.
There were also  slides   showing  how populated the social scene is and pointed out that it was not easy to find the top three on the slide (they were there). The  social scene  will become even more populated in the years to come, and it take time to see how effective these new social templates  become.
At the end of the presentation I received  a gift card  for a local restaurant, courtesy of the board;  an add a bonus one of the participants had a referral to give me regarding opportunity to write article on social media for the local paper (awesome).
As I head back to Toronto it was exciting to visit a new place in our great province and to see some new people and admire what a great country we have.
I have loved the journey through  Toronto, Kingston and Ingersoll over the last few months. The moral of the story for me:  enjoy the journey and admire the destination we learn and see new things everyday.
Jim Pagiamtzis sharing insights on raving fans

Journey to Meditation

It has been an  interesting journey in learning from various leaders through their books and teachings. -including   “The Monk Who Sold His Ferrari” by world-renowned author and speaker Robin Sharma.
That all changed on April 17th, 2012 when I  got listen to Ajahn Kusalo  on an evening that I will never forget.
 A few weeks ago I was given a CD at my(41 years young) birthday party  by a very good friend  who  admires my energy but was concerned about me having some “slow down”  time as she coined it.
After listening to half way through the audio  and reported back to my friend that “it felt as if  I was walking through the forest with a bow and arrow on my shoulder with  no idea why”
She sounded confused “Were you chasing something or  was something chasing you?”I didn’t because I didn’t really know.
My friend invited me  to participate in a meditation evening. She is a very spiritual individual and  felt this might be of interest to me.
Initially I was non-committal to her offer and decided to wait and ponder it a little further. The day before the event  she sent me an email with the location along with  some special instructions which included to bringing a water bottle and to wearing  comfortable clothing.
Tuesday morning I went  through my own routine of reading morning passages from a book that I keep nearby and did my morning affirmations.
That afternoon I listened to the last half  of  the CD (to my pleasant surprise) by then  I was in the forest with no bow and arrow just walking through. Listening  to the songs I could see a big tree across the street and remembered  vividly 25 years ago when it was first planted in the soil, it has now grown into a huge tree, solid from stump to the end branches. Just like me!
After that took a brief nap to relax  let the music sink in, and woke up and feeling  re-energized.
By late afternoon I had decided that I was ready to go to the meditation and I informed my friend via email. She was pleased and looked  forward to it.
As I neared the location was pleasantly surprised when  I realized that I  pass by this location all the time going to a health club near by. Locked up my mountain bike and followed the signs to  where it said “Everyone is welcome”.
My friend was going to arrive little later so I made my way in and found  a chair off to the side. The room was very quiet as people began to arrive.
Even though I had my business cards with me I made no attempt to interact with anyone, respectful of the environment and the event.Ajahn Kusalo   walked into the room and was greeted by a gentleman who was assisting with the room and event proceedings.
At the entrance there was option to make a donation to the monastery, so I grabbed  an envelope and made a mental note to put one the box on my way out.
We were given two  handouts. The first  was a dedication of offering which was a chant that was made during the session; the second was a  sheet of explanation called Tisarana- an overview of intent and direction
Ajahn Kusalo began with conversation and I was pleasantly surprised that he was very amusing and made a strong effort to connect with everyone. He used many sports analogies to explain life and how we each  go through our journey.
He spoke how we deal with things that we face in our daily lives  and how we can learn to respond better and  better understand that life  is not as complicated as we make it.
We all have weaknesses. but at the end of the day we must  work on our strengths and evolve to improve our  weaknesses.
The room was silent as everyone listened except for the occasional  group laugh. It was a healthy spirit of individuals from all walks of life young and old, gathered together  for a few hours together time to relax and take time to breach and relax from our busy lives.
We chanted for about half an hour and then Ajahn Kusalo  fielded questions for the attendees.
It was a very therapeutic experience and I appreciated my friend inviting me to this event.
Moral of the story: meditation is a great way to relax and release yourself from the busyness of life.
If you wish to attend a future session information is below
For more information:
Address: 60 Lowther Avenue, (close to St George subway station)
Bring: Water bottle & wear comfortable clothing