Manulife’s third-quarter earnings rise to $1.84 billion

TORONTO — Manulife Financial Corp. says it earned $1.84 billion in the third quarter, up from $1.01 billion a year earlier.

The insurer says adjusted earnings, or what it calls core earnings, were $1.83 billion, up from $1.74 billion during the same quarter last year.

Earnings per share were $1.00, up from 52 cents a year earlier.

Manulife attributed its higher third-quarter net income to improved market experience and core earnings growth.

Net income from the company’s Asia division rose to $606 million from $63 million during the same quarter in 2023.

The company’s Canada division saw its earnings rise to $430 million from $290 million, while earnings from the U.S. fell to $5 million from $53 million.

This report by The Canadian Press was first published Nov. 6, 2024.

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The Canadian Press