25-06-2025
- Business
- New Straits Times
Manulife AUM hits RM17.2bil in 2024, beats industry average
KUALA LUMPUR: Manulife Holdings Bhd (MHB) recorded an 18 per cent year-on-year (YoY) increase in assets under management (AUM) to RM17.2 billion in the financial year 2024, surpassing the industry average for both equity and fixed income funds. The growth reinforces the group's position as a key player in Malaysia's retail investment market.
In a statement, MHB said it delivered solid earnings, driven by strong business fundamentals and increased contributions from its insurance and investment divisions.
Its insurance subsidiary, Manulife Insurance Bhd (MIB), posted a robust 48 per cent YoY growth in annual premium equivalent (APE) from its bancassurance business, underpinned by rising demand and a strengthened distribution network.
The company's high-net-worth business, managed through Manulife Insurance Labuan Limited posted a 50 per cent jump in APE, supported by the introduction of Malaysia's first USD Indexed Universal Life product.
MHB group chief executive officer Vibha Coburn said the achievements in 2024 have scaled up the group operations, product offerings and enhanced customer experience.
"I am incredibly proud of our team's dedication and focus, which have been instrumental in driving our growth and success. As we look ahead to 2025, we remain focused on raising the game for sustainable growth and profitability," she said.
She also highlighted MHB strengthened its sustainability agenda through biodiversity projects in Perlis, urban clean-ups, the Terry Fox Run, and recycling initiatives.
MHB reported a 46 per cent increase in volunteer hours and aligned its climate governance with Bank Negara Malaysia's Climate Risk Management and Scenario Analysis policy.
Looking ahead, the group will focus on operational excellence, employee engagement, and enhancing customer experience.
"We are not merely growing; we are growing with a clear purpose. As we progress, we remain dedicated to supporting Malaysians in leading better and healthier lives," said Vibha.
