Canada's Manulife posts higher quarterly profit on Asia strength

Manulife Financial (0945) reported a rise in third-quarter profit on Wednesday, as the Canadian insurer was helped by a strong performance in its Asia unit.

Core earnings from Manulife's Asia business climbed 29 percent to US$550 million (HK$4.3 billion) in the quarter compared to the year-ago period.

Manulife's annual premium equivalent (APE), an important sales metric used by life insurers, jumped 8 percent during the quarter.

Shares of the insurer have gained over 9.2 percent in 2025, outperforming smaller peer Sun Life, which also reported a higher quarterly profit last week.

"Our refreshed strategy, with clear priorities, strengthens our confidence in the delivery of our 2027 targets," CEO Phil Witherington said in a statement. Witherington took up the helm of the company in May.

Earlier on Wednesday, Manulife entered into an equal-ownership life insurance joint venture with Indian conglomerate Mahindra & Mahindra.

 The company's core earnings came in at C$2.04 billion (HK$11.3 billion), or C$1.16 per share, in the three months ended September 30, compared with C$1.83 billion, or C$1.00 per share, a year earlier.

Reuters