How Insurance Company to Encounter the Economic Downturn in Hong Kong

1.INTRODUCTION 1.1Background Since 1997, Hong Kong has been facing the economic downturn that has never been come crosswise in recent decades. The unemployment rate and the number of bankrupts ar hit the new records every month. Pay-cut is just accepted a stylus in Hong Kong now. Insurances are regarded as essential protection for everyone, however, it is in like manner a long-term investment. In the other words, insurances cannot or are not supposed to give the policy owner the short-term benefits. Moreover, for many families burdened with mortgages, tuition payments, and increasing expenses, having one or both salary earners lose their problems is a very traumatic event. Even for young people just graduating from school, a soaring unemployment rate means that it will be harder for them to find the job that they want at the pay that they desire. It a fact that the periodic premium payment could become the burden for someone slothful or with considerate pay-cut. With these regards, it is valuable to evaluate how the insurance pains can survive and even grow in much(prenominal) a situation. This management project report aims to study the slip of paper of Manulife Hong Kong, one of the leading insurance companies in Hong Kong. 2.COMPANY BACKGROUND 2.

1Overview of the Company Canadian-based Manulife fiscal commenced operations in Hong Kong in 1897. Now operating infra three wholly-owned subsidiaries Manulife (International) Limited (MIL), Manulife notes Direct (MFD) and Manulife Provident Funds Trust (MPFTC) it is one of the largest financial services organizations in Hong Kong. Manulife Hong Kong was property the 2nd position in life insurance securities industry (based on new annualized premiums) and 9% market share in 2002. Manulife Hong Kong enjoyed solid sales growth in its insurance and wealthiness management businesses in 2002, despite the depressed economic environment and volatile equity markets. Regular premiums and deposits for the fourth quarter total HK$2,450... If you want to get a full essay, order it on our website: Orderessay

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