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PIA Press Release
2007/09/15

Manulife to stay in RP for 100 more years, PGMA told

Manila (15 September) -- President Gloria Macapagal-Arroyo welcomed yesterday afternoon Manulife's bullishness on the Philippines as the insurance company has expanded its business in the country from life insurance policy to business process outsourcing (BPO).

"We like it here. We intend to stay 100 more years or even more," Manulife Financial Corp. President Dominic D' Alessandro said during a call on the President at Malacaņang's Music Room.

Alessandro said the BPO office of Manulife in the Philippines has been operational for 15 months now with 500 personnel and it intends to expand to one thousand by 2008.

The Manulife executive specifically cited the English-speaking, hardworking and very qualified Filipino workforce as behind the successful operations of his company in the country.

He also noted the "great technology" in the country, making their business here easier and more efficient.

"That's the new world of the economy now," the President said of Manulife's BPO operations here.

The Chief Executive also took time to boast of the country's growing economy, posting a remarkable 7.5 percent growth in the second quarter of this year.

Manulife Philippines started its operations in 1907 and has become one of the country's top 10 life insurance companies.

Alessandro said his call on the President was intended to signify Manulife's intention to stay in the Philippines. (OPS) [top]

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