June 2, 2025
MANILA, Philippines – Manulife Philippines, the local arm of leading international financial services provider Manulife Financial Corporation, and China Banking Corporation (Chinabank) announce the renewal of their bancassurance partnership under Manulife China Bank Life Assurance Corp. (MCBL).
MCBL offers financial protection and wealth management products and services through 650 Chinabank and China Bank Savings branches nationwide. This strategic partnership, which started in 2007, has been renewed for another 15 years, solidifying the two organizations’ shared commitment to providing holistic life, health and wealth solutions for the long-term financial security of Filipino families.
Over the past 18 years, MCBL has introduced comprehensive health and life insurance plans that provide coverage for the most common critical illnesses in the Philippines. Additionally, MCBL focuses on providing customers with long-term savings and retirement planning, helping them secure a comfortable retirement, fund their children's education, or achieve other financial goals.
The company also offers a variety of options to assist Filipinos in growing their wealth and preserving their legacy by investing in a diverse array of fund options tailored to their financial goals and aspirations. MCBL is also a recipient of Golden Arrow Awards for exemplary performance in corporate governance given by the Institute of Corporate Directors.
“We are delighted to strengthen our long-standing partnership with Chinabank, one of the largest private universal banks in the Philippines, by renewing our bancassurance agreement with them. As we renew this strategic alliance, we look forward to growing our reach across the country through Chinabank’s distribution network, providing holistic and accessible financial and wealth solutions that enrich the lives of more customers within the bank’s growing customer base,” said Rahul Hora, President and Chief Executive Officer, Manulife Philippines.
“At Chinabank, we are focused on helping our customers achieve their financial goals, and our partnership with Manulife through MCBL delivers on this commitment. We are excited to elevate this collaboration so we can provide our customers greater security with products and services that exceed their expectations,” said Romeo D. Uyan Jr., Chinabank President and Chief Executive Officer.
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 country's leading life insurance companies. 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 manulife.com.ph and following them on Facebook (facebook.com/ManulifePH), Twitter (@ManulifePH), and Instagram (@manulifeph).
About Manulife China Bank Life
Manulife China Bank Life Assurance Corporation (MCBL) is a strategic alliance between Manulife Philippines and Chinabank. MCBL provides a wide range of innovative insurance products and services to Chinabank and China Bank Savings customers. MCBL aims to ensure that every client receives the best possible solution to meet his or her individual financial and insurance needs. In 2014, China Bank raised its equity stake in MCBL to 40%.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2024, we had more than 37,000 employees, over 109,000 agents, and thousands of distribution partners, serving over 36 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 Chinabank
China Banking Corporation (Chinabank) is a leading private universal bank in the Philippines with over 100 years of banking experience and history. Focused on you, our customers, we offer a full range of banking products and services, as well as the financial solutions to help you achieve your personal and business goals through our subsidiaries China Bank Savings, Chinabank Capital, Chinabank Securities, Resurgent Capital, Chinabank Insurance Brokers, and affiliate Manulife China Bank Life Assurance Corporation.
Chinabank’s head office is located in Makati City, Philippines. As of March 31, 2025, our nationwide footprint spanned 650 branches, complemented by self-service and digital banking channels available 24/7 — 1,120 ATMs, Cash Accept Machines, Chinabank TellerPhone, Chinabank Online, and My CBC Mobile App.
Chinabank is a member of the SM Group, one of the largest conglomerates in the Philippines, and is listed on the Philippine Stock Exchange under the ticker symbol “CBC”
Learn more about Chinabank by visiting their website chinabank.ph and following them on Facebook (facebook.com/ChinabankPH), X/Twitter (@ChinabankPH), and Instagram (@ChinabankPH).
Media Contacts:
Gerald O. Florentino
Head of Investor Relations
China Banking Corporation
John Robert Sion
Head of Communications and Corporate Affairs
Manulife Philippines
Shyla Reyes
Media Relations Director
M2.0 Communications
+63 9178475264