Manulife Financial Corp

MFC

Equity

ISIN CA56501R1064 / Valor 1002859

Toronto Stock Exchange (2025-03-12)

CAD 42.06+1.86%

Manulife Financial Corp
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Manulife Financial Corp is a prominent international financial services group known for providing financial advice, insurance, wealth, and asset management solutions to individuals, groups, and institutions. Operating primarily as John Hancock in the United States and Manulife elsewhere, the company aims to help people make informed decisions to improve their lives. With a strong presence in the global financial market, Manulife is dedicated to assisting clients in achieving their financial goals and securing their futures.

Summarized from source with an LLMView SourceSector: Finance

Core Earnings Growth

In the third quarter of 2024, Manulife Financial Corp reported core earnings of $1.8 billion, marking a 4% increase on a constant exchange rate basis compared to the same period in 2023. This growth reflects the company's strong performance across its operating segments, contributing to record core earnings for the quarter.

Net Income Surge

Manulife Financial Corp's net income attributed to shareholders reached $1.8 billion in the third quarter of 2024, a significant increase of $0.8 billion from the third quarter of 2023. This substantial rise in net income underscores the company's effective financial strategies and robust business operations.

EPS Improvement

The company reported an earnings per share (EPS) of $1.00 for the third quarter of 2024, which represents a 91% increase from the same quarter in the previous year. Excluding the impact of Global Minimum Taxes, the core EPS was $1.03, up 11% from the third quarter of 2023, highlighting Manulife's strong earnings performance.

Insurance Sales Growth

Manulife Financial Corp experienced a 40% increase in annualized premium equivalent (APE) sales during the third quarter of 2024 compared to the same period in 2023. Additionally, the new business contractual service margin (CSM) and new business value (NBV) saw increases of 47% and 39%, respectively, reflecting the company's successful expansion in the insurance sector.

Global Wealth and Asset Management Inflows

In the third quarter of 2024, Manulife's Global Wealth and Asset Management segment reported net inflows of $5.2 billion, a significant turnaround from net outflows of $0.8 billion in the third quarter of 2023. This positive shift indicates strong investor confidence and effective asset management strategies within the company.

Summarized from source with an LLMView Source

Key figures

30.4%1Y

66.4%3Y

161%5Y

Performance

19.3%1Y

20.8%3Y

30.1%5Y

Volatility