Key Takeaways:
Manulife Financial Corp. (00945.HK) reported an 8% rise in first-quarter core earnings to C$1.84 billion, as significant growth in its Asian operations offset slower performance in other regions.
"Asia achieved another strong quarter, with 22% growth in core earnings and 15% growth in new business value, reflecting robust contributions from key markets in the region," CEO Phil Witherington said in a statement.
The Toronto-based insurer's core earnings per share increased to C$1.06, up from 99 Canadian cents in the same period last year. Net income attributed to shareholders saw a dramatic 149% year-over-year surge to C$1.15 billion, which the company attributed to growth in core earnings and lower net market experience losses.
The strong performance underscores the increasing importance of the Asian market to Manulife's bottom line. The company's shares have gained approximately 9.6% year-to-date, reflecting investor confidence.
The primary driver for the quarter was the Asia division, which posted a 22% jump in core earnings to $598 million. The company's global wealth and asset management arm saw a modest 2% rise to C$448 million, while profits from its Canadian domestic market unit grew by 7%.
The company announced a quarterly common share dividend of C$0.485 per share. This represents an increase from the C$0.440 per share dividend paid in the previous quarters of 2025.
The guidance raise signals management's confidence in sustained momentum, particularly from its Asia operations. Investors will be closely watching the company's full earnings call for further details on segment-specific margins and the outlook for the remainder of 2026.
This article is for informational purposes only and does not constitute investment advice.
