Benjamin Li
Mar 29, 2012

PHD takes over Manulife media duties in Hong Kong

HONG KONG - PHD will handle media planning and buying for Manulife Hong Kong, the client's spokesperson has confirmed. The incumbent is MEC, which remains as the regional media agency for Manulife.

PHD takes over Manulife media duties in Hong Kong

The change took place after several rounds of discussion. MEC has been handling the account for more than 10 years.

Ray Wong, CEO of PHD Hong Kong said that given the competitive nature of the insurance category, PHD is looking forward to thinking outside the box to differentiate Manulife's position and sustain its brand campaign.

Last September, DDB Group won the creative business for Manulife, and DDB Hong Kong has been tasked with creating the low-key insurer's first branding campaign in three years under the positioning ‘For your future’.

Manulife is already a well-known name in the territory, serving a customer base of more than 1.6 million over the past century. Its Canada-based parent, Manulife Financial, was the first international insurer to list in Hong Kong.

Michael Huddart, executive vice president and chief executive officer for Manulife HK, aims to increase the market share of the company's Mandatory Provident Fund (MPF) business in the territory above its current 17.2 per cent. Manulife ranks second among MPF service providers in Hong Kong, after market leader HSBC Insurance, in terms of MPF assets under management, according to Towers Watson.

Hong Kong is a net winner in both profit contribution and brand awareness in Manulife's Asian business. The firm's internal research shows the level of brand awareness in Hong Kong is at 90 per cent.

Huddart attributes that to the company's 115-year history in Hong Kong, but stresses the need to emphasise Manulife's brand attributes in today's busy insurance market, where the company facres strong competitors like Prudential and AIA.

Source:
Campaign China

Campaign Jobs

Follow us

Top news, insights and analysis every weekday

Sign up for Campaign Bulletins

Related Articles

Just Published

Premium
Transformation, comms and crisis: Q&A with Commvault’s Bill Wohl
Premium
20 hours ago

Transformation, comms and crisis: Q&A with ...

INSIDE IN-HOUSE PR: Commvault’s chief communications officer discusses lessons from his time with HP, the relationship between comms and marketing, and the fun of working with B2B brands.

Premium
CMOs need to take bigger risks for great creativity: Zeno Group CEO
Premium
20 hours ago

CMOs need to take bigger risks for great creativity:...

Brands need to be braver in their creativity without being reckless, and PR agencies are duty-bound to push them out of their comfort zones, according to Barby Siegel of Zeno Group.

Premium
Thai bank offers Pokémon Go insurance: Protection from 'huge and dangerous stampedes'
Premium
20 hours ago

Thai bank offers Pokémon Go insurance: Protection ...

A spate of accidents prompted Asia Insurance to launch a product to protect Pokémon Go players from themselves.

Premium
Woes deepen for Lancôme in Hong Kong
Premium
21 hours ago

Woes deepen for Lancôme in Hong Kong

BRAND HEALTH CHECK: Cosmetics giant’s clumsy handling of Denise Ho affair leaves reputation battered on all sides.