Canada's Manulife posts higher quarterly profit on Asia strength (updated)

Manulife Financial

12/11/2025 22:21

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Nov 12 (Reuters) - Manulife Financial MFC.TO 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% to $550 million 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% during the quarter.

Shares of the insurer have gained over 9.2% in 2025, outperforming smaller peer Sun Life SLF.TO, 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 ($1.45 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.

($1 = 1.4024 Canadian dollars)

 (Reporting by Ateev Bhandari in Bengaluru; Editing by Alan Barona)

 ((Ateev.Bhandari@thomsonreuters.com))