Manulife China Bank Life Assurance Corporation (MCBLife) is a
joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...
company
A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or a mixture of both, with a specific objective. Company members share a common p ...
set up between the
China Banking Corporation (China Bank) and
Manulife Philippines
Manulife Philippines (also known as The Manufacturers Life Insurance Co. (Phils.), Inc.) is a life insurance company in the Philippines and part of Manulife Financial Corporation, a Canadian life insurance company.
In 2002, Manulife acquired t ...
, a wholly owned
subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a s ...
of the Canadian company
Manulife Financial
Manulife Financial Corporation (also known as Financière Manuvie in Quebec) is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario. The company operates in Canada and Asia as "Manulife" an ...
, one of the leading
life insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...
companies in the world. Incorporated on 23 March 2007, MCBLife provides
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
and financial products through the many China Bank outlets in the Philippines.
External links
Manulife China Bank Life Assurance Corporation Official website of MCBL
information from Manulife Financial
Bloomberg Businessweek report
Financial services companies established in 2007
Insurance companies of the Philippines
Financial services companies of the Philippines
Companies based in Makati
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