Manulife inaugurates new office

MANILA, Philippines — Manufacturers Life Insurance Philippines Co. (Manulife) recently moved to a new modern office in Makati City to support its transformation into a digital insurer.

Located at the NEX Tower in Ayala Avenue, Makati City, the recently inaugurated office features an open layout and more collaborative work spaces, including modern work-cafés, state-of the art training and meeting rooms, and its own event area.

“The new office was designed to support our new ways of working. Its modern work space combined with digital work tools enable us to work more collaboratively as a team. All of these empower us to create solutions which make decisions easier and lives better for our customers, distributors, and of course, our colleagues, ” said Manulife president and chief executive officer Richard Bates.

Bates said the new Manulife office has an open office design to encourage collaboration among its employees. There are also various collaboration capsules in each department where employees can gather for brainstorming sessions.

The new office has work-cafés where employees can have casual meetings, breaks, or enjoy meals.

Bates said every floor features meeting rooms, as well as quiet rooms for employees who need to work alone and be focused on accomplishing tasks. 

The new office also includes a large work-café for formal internal or external gatherings, he added. The space has already hosted some of Manulife’s events, such as Fintech Association of the Philippines’ Fintech Mixer, Manulife’s Peso Smart graduation, and various internal activities.

Manulife Philippines opened its doors for business in the country in 1907. It is a wholly owned domestic subsidiary of Canadian life insurance firm Manulife Financial Corp.

In 2018, Manulife maintained its spot as the sixth largest life insurance company in the Philippines with a total premium income of P16.39 billion. This, however, was 7.4 percent lower than the P17.7 billion premium income it generated in 2017.

The company also took the fourth spot in the life insurance sector in terms of net income, with a total of P2.59 billion in 2018.

As of the end of December last year, Manulife’s net worth reached P14.43 billion, the fourth largest in the industry.  Its assets, meanwhile, amounted to P95.85 billion.