Manulife Financial Corporation and Bank of China announced on November 9 the signing of a new framework agreement between the two companies. The deal marks another step forward in a relationship that has blossomed over the last 12 months. The agreement will strengthen cooperation in areas such as insurance custody and bancassurance in China, and other business arrangements in North America. The framework comes into force with immediate effect and will run for a minimum of two years.
The signing ceremony took place at Bank of China’s headquarters in Beijing. It was presided over by Mr. Donald Guloien, President and CEO of Manulife Financial, and Mr. Marc Sterling, Executive Vice-President of Manulife Financial and Chairman of Manulife-Sinochem Life Insurance. Bank of China was represented by Mr. Chen Siqing, Executive Vice-President, and Mr. Xu Chen, General Manager, Financial Institution Department. The signing was witnessed by Ms Sarah Taylor, Deputy Head of Mission, Embassy of Canada. Both Mr. Guloien and Mr. Chen signed the agreement.
Full agreement here: