Vibha Cobun, group CEO of Manulife Holdings
KUALA LUMPUR: Manulife Holdings Berhad
(MHB) reported a year of growth and progress at its 49th annual general meeting, underscoring its commitment to sustainable growth.
In 2024, MHB reported an increase in profit before tax to RM185.4mil, supported by strong business fundamentals.
Manulife Investment Management (MIM) also saw its assets under management (AUM) grow 18% year-over-year (y-o-y) to RM17.2bil as of end of 2024. It said AUM growth surpassed the industry average for equity and fixed income funds, strengthening its position in the retail investment market.
Manulife Insurance Bhd (MIB), the insurance business of MHB, saw bancassurance growth in 2024, with a 48% y-o-y increase in annual premium equivalent (APE).
The high-networth segment, through its Manulife Insurance Labuan Limited (MILL) business, experienced 50% growth in APE, driven by the launch
of Malaysia’s first USD Indexed Universal Life product.
"As we look ahead to 2025, we remain focused on raising the game for sustainable growth and profitability," said Vibha Coburn, group CEO of MHB.
