Manulife Financial Corporation

HONG KONG, June 2, 2026 /PRNewswire/ -- Manulife Hong Kong today announced a strategic partnership with Alibaba Cloud, a leading global provider of AI infrastructure and the intelligence backbone of Alibaba Group, to establish a collaboration framework focused on advancing responsible AI innovation and accelerating the deployment of AI technologies across the business. The partnership will support the development of AI applications within the insurance industry, while reinforcing Hong Kong's position as a regional hub for AI innovation.

This collaboration builds on Manulife's enterprise-wide ambition to become an AI-powered organization and the momentum of its continued AI leadership and investments in Hong Kong and globally. According to the Memorandum of Understanding, by combining Manulife's extensive insurance and financial services expertise with Alibaba Cloud's leading AI and cloud technologies, the two parties will explore opportunities to co-develop AI-enabled initiatives that enhance customer experience, operational effectiveness, and sustainable long-term growth. The collaboration will be guided by robust security, privacy and responsible AI principles, in line with applicable legal, regulatory and data governance requirements.

Under the partnership, Manulife Hong Kong and Alibaba Cloud will explore the establishment of a joint AI hub to incubate next-generation AI applications and develop innovative use cases aligned with Manulife's business priorities. The collaboration is expected to focus on embedding AI-powered solutions across digital customer journeys, including strengthening fraud detection capabilities and advancing service personalization.

The partnership also provides a framework for identifying and evaluating potential co-development opportunities, pursuing go-to-market collaboration where appropriate, and assessing emerging technologies that can deliver meaningful business impact, subject to further agreement between the parties and regulatory approvals.

Dr. Hongjuan Liu, Chief AI & Data Officer, Manulife Hong Kong and Macau, said: "This partnership with Alibaba Cloud marks an important step in expanding our AI ecosystem. Through the establishment of a joint AI hub, we are creating a structured platform to co-develop innovative AI solutions that can transform both customer experiences and business processes. We see this collaboration as a catalyst for unlocking new ideas and accelerating impactful AI applications, underpinned by robust data governance and regulatory safeguards."

Andy Bruce, Chief Information Officer, Manulife Hong Kong and Macau, said: "The collaboration builds on an established technology partnership between Manulife Hong Kong and Alibaba Cloud, which has supported a range of digital initiatives across our Hong Kong and Macau businesses. This represents a further step in deepening this relationship, with a shared focus on strengthening our technology foundations to support responsible AI adoption aligned with our evolving customer, distribution and operational needs."

Edward Zhang, Vice President of Public Cloud and General Manager of Financial Services Industry, Alibaba Cloud Intelligence, said: "This collaboration reflects a shared commitment to advancing innovation through AI and cloud technologies. By working closely with Manulife, we will combine deep industry expertise with Alibaba Cloud's advanced technical capabilities to co-develop AI-enabled solutions that address real-world business needs. We believe this partnership will help deliver tangible value for customers and contribute positively to the broader digital ecosystem."

In Hong Kong, Manulife has already deployed AI across multiple areas of its business, including customer engagement tools, data driven insights to support frontline distribution, and intelligent automation to enhance operational efficiency and service responsiveness. These initiatives form part of Manulife's broader enterprise strategy to embed AI responsibly into day-to-day operations and decision-making. Manulife is deploying AI at scale, aiming to unlock value and deliver meaningful benefits across the organization. The company expects to generate more than CAD$1 billion in enterprise AI value by 2027 ^[i].

About Manulife Hong Kong and Macau

Manulife Hong Kong has been a trusted name for more than 125 years, while we have served the Macau market for nearly three decades. Since our operations began in Asia in 1897, we have grown into one of the top-tier providers of financial services, offering a diverse range of protection and wealth products and services to over 2.6 million customers in Hong Kong and Macau. We are committed to helping make decisions easier and lives better for our customers.

Manulife Hong Kong and Macau, through Manulife International Holdings Limited, owns Manulife (International) Limited, Manulife Investment Management (Hong Kong) Limited, and Manulife Provident Funds Trust Company Limited. These entities are all subsidiaries of Manulife Financial Corporation.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

About Alibaba Cloud

Alibaba Cloud (https://www.alibabacloud.com/) is a global leader in full-stack AI+Cloud solutions. It offers a comprehensive suite of flexible, scalable and secure cloud services built on a three-tiered architecture of Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and Model-as-a-Service (MaaS). Alibaba Cloud empowers enterprises worldwide with its full-stack AI capabilities, powered by Qwen (Chinese: Qianwen), a family of large language and multimodal AI models developed by Alibaba. Debuted in 2023, Qwen models are available to global developers via HuggingFace (open-weight) or through API on Model Studio, Alibaba's one-stop, enterprise-grade AI development platform offering access to the full suite of Qwen foundation models.

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SOURCE Manulife (International) Limited

Entity to be called "Mahindra Manulife Insurance Limited"; a 50:50 partnership

MUMBAI and HONG KONG, June 2, 2026 /PRNewswire/ -- Mahindra and Manulife announced their partnership to create a life insurance business on November 12, 2025. Both companies have confirmed the incorporation of the JV company as Mahindra Manulife Insurance Limited (MMIL), following approval from the Ministry of Corporate Affairs. The incorporation of MMIL marks the next step in that journey.

The venture brings together Mahindra's strong presence in India with Manulife's global expertise to build a simple, customer-first, AI-native and digitally-led life insurer. By combining the extensive market reach of Mahindra with Manulife's strengths in product innovation, underwriting, and agency-led distribution, MMIL will focus on policyholder protection and offer holistic, needs-based financial solutions.

MMIL aims to address India's large protection gap through a range of long-term savings and protection products, with a strong focus on rural and semi-urban markets while building leadership in protection solutions for urban customers. Together, the partners are committed to establishing MMIL as a trusted, digital, technology-driven and AI-native insurer, aligned with India's long-term growth and the vision of "Insurance for All."

About Mahindra 

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 324,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.   

The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise. 

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room

About Manulife

Manulife Financial Corporation is a leading international financial services provider, helping customers make their decisions easier and lives better. Headquartered in Toronto, Canada, Manulife operates across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance solutions for individuals, groups, and businesses.

Through Manulife Wealth & Asset Management, the company offers global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

Media Contacts

Swati Khandelwal

Senior VP & Head, Group Communications Mahindra Group.

Email: khandelwal.swati@mahindra.com

Carl Wong

Head of External Communications, Asia

Manulife

carl_kk_wong@manulifeam.com