Chinabank and Manulife Philippines sign 15-year renewal of bancassurance agreement via Manulife China Bank Life (MCBL)

From left: Manulife Philippines President & CEO Rahul Hora, MCBL President & CEO Amy Gochuico, Manulife Asia CEO Steve Finch, Chinabank Chairman Hans Sy, and Chinabank President & CEO Romeo Uyan Jr.

China Banking Corporation (Chinabank) and Manulife Philippines, the local arm of leading international financial services provider Manulife Financial Corporation, announce the renewal of their bancassurance partnership under Manulife China Bank Life Assurance Corp. (MCBL).

MCBL offers financial protection and wealth management products and services through 650 Chinabank and China Bank Savings branches nationwide. This strategic partnership, which started in 2007, has been renewed for another 15 years, solidifying the two organizations’ shared commitment to providing holistic life, health and wealth solutions for the long-term financial security of Filipino families.

Over the past 18 years, MCBL has introduced comprehensive health and life insurance plans that provide coverage for the most common critical illnesses in the Philippines. Additionally, MCBL focuses on providing customers with long-term savings and retirement planning, helping them secure a comfortable retirement, fund their children's education, or achieve other financial goals. The company also offers a variety of options to assist Filipinos in growing their wealth and preserving their legacy by investing in a diverse array of fund options tailored to their financial goals and aspirations.

Manulife Asia CEO Steve Finch and Chinabank Chairman Hans Sy.

AlphaPrimus Advisors and Chinabank Capital acted as financial advisors to Chinabank for this renewal.

“At Chinabank, we are focused on helping our customers achieve their financial goals, and our partnership with Manulife through MCBL delivers on this commitment. We are excited to elevate this collaboration so we can provide our customers greater security with products and services that exceed their expectations,” said Romeo D. Uyan Jr., Chinabank President and Chief Executive Officer.

From left (Seated): Chinabank Bancassurance Head Karla Libatique, MCBL President & CEO Amy Gochuico, Manulife Asia CEO Steve Finch, Chinabank Chairman Hans Sy, Manulife Asia Chief Distribution Officer & MCBL Chairperson Bonnie Qui, and Chinabank President & CEO Romy Uyan. (Standing) Chinabank Advisor to the Board Howard Sy, Manulife Asia Emerging Markets CEO Kah Siang, Chinabank CFO Patrick Cheng, Chinabank Retail Banking Business Co-Segment Head Gerry Susmerano, Manulife Philippines President & CEO Rahul Hora, and Chinabank Capital President Ryan Tapia.

“We are delighted to strengthen our long-standing partnership with Chinabank, one of the largest private universal banks in the Philippines, by renewing our bancassurance agreement with them. As we renew this strategic alliance, we look forward to growing our reach across the country through Chinabank’s distribution network, providing holistic and accessible financial and wealth solutions that enrich the lives of more customers within the bank’s growing customer base,” said Rahul Hora, President and Chief Executive Officer, Manulife Philippines.