Manulife Malaysia outperforms market despite industry decline

KUALA LUMPUR: Manulife Holdings Bhd has outperformed the market despite industry declines, recording a growth of 1.3% in 2022 against the previous year.

In a statement, Manulife said its bancassurance recorded 17% annualised premium equivalent (APE) growth despite the market shrinking by 7%, while Manulife Labuan recorded 21% year-on-year (YoY) APE growth. Its agency force grew 11% YoY.