125 years: how Hong Kong and Manulife, the city’s longest-continuous insurer, are entwined
- Company stays with the city through many ups and downs, including wartime invasion, stock market crashes and epidemics
- Agents’ dedication to serving their customers recognised by awards and highlighted by record-breaking business performance
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The story of Hong Kong’s rise from its humble origins as a quiet port inhabited by fishing and farming communities into a thriving metropolis and global economic powerhouse is well known. But a lesser-known story is how that transformation gave rise to a new industry that, in return, helped the city blossom.
From covering the risks for traders – such as piracy and fire, to offering a safety net for various stages of life and businesses, the insurance industry has evolved in tandem the vibrant and resilient city through many defining moments.
In 1887, The Manufacturers Life Insurance Company is incorporated in the Canadian city of Toronto, with the country’s first prime minister, Sir John A. MacDonald serving as its president. Ten years later, it sets up operations in Hong Kong alongside offices in South China and Shanghai. Now, 125 years later, the company, which has been renamed Manulife, is the city’s longest continuously operating life insurer.
Here we look at how Hong Kong and Manulife have developed in tandem over the decades through a series of highs and lows and witnessed many historic moments.
The rise of Hong Kong
