Core earnings from Manulife’s Asia business jumped 17 per cent
posted a better-than-expected third-quarter profit on Wednesday, as the Canadian insurer benefited from a robust performance in its Asia and wealth management businesses.
to C$453-million in the quarter compared to last year. Manulife’s annual premium equivalent , an important sales metric used by life insurers, jumped 40% during the quarter, powered by a 64 per cent jump in its Asia unit. Manulife’s wealth and asset management business was another bright spot, with core earnings from the unit jumping 37 per cent to a record C$499-million.Manulife’s wealth and asset management saw net inflows of C$5.2-billion, compared to net outflows of C$0.8-billion a year earlier, driven by strong retail net flows.
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