Victor Apps, general manager at Manulife for Asia ex-Japan runs an insurance empire that has 16,000 sales people in Hong Kong, Shanghai, Vietnam, Taiwan, Indonesia, Singapore and the Philippines. Manulife is the second biggest provider of MPF by number of employees in Hong Kong and claims the number two spot in life insurance.
FinanceAsia What is the competitive landscape like in Asia
Victor Apps I think you are likely to see contraction among multinational insurers from around 30 to seven or eight. You need significant scale in everything you do and you must be aggressive in Asia to survive. Some people who are still operating a strategy of flag planting here need to either...
