Insurer Manulife (International) Ltd. Macau branch registered a jump of 62.7 per cent year-on-year in net income for 2014, a notable improvement from the loss it posted one year ago, according to the company’s annual report released on Wednesday in the Official Gazette. Last year, the net income of the insurer reached MOP39 million (US$4.9 million), compared to a loss of MOP26.6 million that the company posted in 2013. Meanwhile, the premiums that the company generated from its direct services totalled MOP246.2 million in 2014, an increase of 23.6 per cent year-on-year from MOP199.1 million. On the other hand, Manulife granted a total of MOP73.3 million-worth of indemnity last year, with more than half, MOP40.4 million, for endowment insurance. Some MOP12.4 million-worth of dividends was allocated to the insured in the participating policy. ‘To meet the demands of the development of the Macau market, we added pensionable services [in 2014]…In addition, we [added] new marketing channels in banks,’ the company wrote in the report. The Canadian company, founded in 1984 and based in Hong Kong, offers life and health insurance, life protection and investment, critical illness protection, medical care, accident and disability protection, senior care and mortgage protection products.
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