Manila, Philippines ―The Philippine arm of global financial services provider Manulife recently announced the appointment of Rahul Hora as the new President and Chief Executive Officer (CEO) of Manulife Philippines. Hora will be responsible for managing the overall strategy and development of the Company, and will also serve as a Board Director of Manulife China Bank Life Assurance, the strategic alliance between Manulife Philippines and China Bank.
“I am excited to start a new chapter with Manulife Philippines, one of the country’s insurance firms, the Company is leading the industry in creating innovative financial products and solutions that are responsive to customers’ evolving needs and aspirations, taking care of its employees’ well-being, and promoting diversity, equity, and inclusion among its workforce,” Hora said. “By expanding the company’s customer-centric approach, I look forward to leading and collaborating with a winning team committed to improving the lives of Filipinos and securing their future.”
Hora is an insurance industry veteran, taking on various leadership roles in operations, agency, and bancassurance in India and the Philippines. He served as senior vice president of one of India’s most recognized insurance companies, promoted to its head of sales, then led its regional distribution. He then transferred to the Philippines to manage the operations of another insurance company before joining Manulife.
His most recent role as CEO delivered solid financial results as he focused on critical aspects that brought great value to the insurance company, such as distribution acceleration, health and wellness, digital enablement, and enhanced customer experience. In addition, he oversaw a successful post-acquisition merger of the general insurance entity with an existing life insurance business to create one of the most respected composite insurance players in the Philippines. His leadership produced strategic partnerships building superior customer value by making medical services such as telemedicine and medical services available at home to customers. He expanded its distribution reach through a tie-up with the most prominent local airline in the country. In 2018, Hora was recognized as an “Outstanding Leader in Asia” at the Asia Corporate Excellence & Sustainability Awards (ACES).
About Manulife Philippines
The Manufacturers Life Insurance Company opened its doors for business in the Philippines in 1907. Since then, Manulife’s Philippine Branch and later The Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has grown to become one of the leading life insurance companies in the country. Manulife Philippines is a wholly-owned domestic subsidiary of Manulife Financial Corporation, among the world’s largest life insurance companies by market capitalization. Learn more about Manulife Philippines by visiting their website www.manulife.com.ph and following them on Facebook (www.facebook.com/ManulifePH), Twitter (@ManulifePH), and Instagram (@manulifeph).
About Manulife China Bank Life Assurance Corporation
Manulife China Bank Life Assurance Corporation is a strategic alliance between Manulife Philippines and China Banking Corporation (China Bank). It provides a wide range of innovative insurance products and services to customers of China Bank as well as the bank’s thrift arm, China Bank Savings (CBS). MCBL aims to ensure that every client receives holistic life, health, and wealth solutions to address his or her
Since opening in October 2007, the company has grown into a business of significance for both Manulife and China Bank. The two strengthened their partnership further in 2014 when China Bank raised its equity stake in MCBL to 40%. MCBL is setting its sights on its next growth phase and reaffirming its mission to be the biggest, most professional bancassurance company in the industry that delivers extraordinary customer experience.
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2021, we had more than 38,000 employees, over 119,000 agents, and thousands of distribution partners, serving over 33 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.
Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
About China Bank
China Banking Corporation (China Bank), founded in 1920, is one of the leading universal banks in the Philippines, and is the country’s first privately-owned local commercial bank. It was listed on the Philippine Stock Exchange in 1927 (PSE stock symbol: CHIB), became the first bank in Southeast Asia to process deposit accounts on-line in 1969, the first Philippine bank to offer phone banking in 1988, and acquired its universal banking license in 1991.
It provides a full range of banking products and services to corporate, commercial, and retail customers through 637 branches to date, including 160 branches of its retail bank arm China Bank Savings (CBS), complemented by 1,034 ATMs nationwide (162 ATMs for CBS), as well as internet and mobile banking alternative channels and services. It also offers a wide array of allied financial services through its subsidiaries China Bank Capital Corp., China Bank Securities Corp., China Bank Insurance Brokers Inc., and affiliate Manulife China Bank Life Assurance Corp.
With a century of enduring relationships, marked by quality service to its generations of clients and significant contribution to the country’s economy, China Bank remains committed to ethical and responsible banking, and as one of the largest and strongest, most respected and trusted financial institutions in the country. Visit www.chinabank.ph for more information.
John Robert Sion
Virtusio PR International, Inc.