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Manulife aims to continue growth

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Manulife is looking for ways to diversify its distribution channels through banks and independent agents, and at mainland joint-venture opportunities to continue its strong Asian growth.

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Banks account for 21 per cent of Asian sales, and independent agents accounted for 10 per cent in the fourth quarter of last year.

The rest came from contracted agents of Manulife.

In Hong Kong, banks and other independent agents accounted for 12 per cent of sales last year.

Manulife wants to boost the contribution from banks and independent agents in Hong Kong to 25 per cent of sales in coming years.

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It also plans to increase the number of agents in Hong Kong from 4,600 last year to more than 7,000 in five years.

The size of its regional agency force, which stood at 42,000 at the end of 2010, is expected to double in three to four years.

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