Manulife Financial Corp., Manulife Life Insurance Co. (Manulife Japan) and The Bank of Tokyo-Mitsubishi, Ltd. (BTM) have entered into a strategic alliance that will see Manulife Japan’s individual annuity insurance product distributed through the BTM network.

At the same time, BTM is investing five billion yen in the preferred stock of Manulife Japan.

Dominic D’Alessandro, president and CEO of Manulife Financial, Trevor Matthews, president and CEO of Manulife Japan and Shigemitsu Miki, president of BTM and Mitsubishi Tokyo Financial Group, Inc., BTM’s parent company, signed the agreement at a ceremony today in Tokyo.

Pending regulatory approvals, Manulife Japan will offer its product through BTM’s network beginning in April. Mitsubishi Tokyo Financial Group’s trust (Mitsubishi Trust Bank) and securities (Mitsubishi Securities) operations will also offer Manulife Japan’s product soon after.


“This alliance brings together the advantages of both companies, allowing us to cooperate in using our experiences and expertise inside and outside Japan to develop and sell competitive and innovative products that can win a considerable share in the relatively untapped individual variable annuity market in Japan,” said Matthews.

According to Manulife Japan, the alliance fits with the long-term business strategy of both companies and demonstrates Manulife Japan’s commitment to the Japanese market.