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

TORONTO 鈥� 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.

Canadian Press Nov 6, 2024 2:22 PM Nov 6, 2024 2:35 PM

e613a234a810f44c8b86812a849f2dc011a355d29aa504fb2d3093b5d4b2bed9 — Signage is seen on Manulife Financial Corp.'s office tower in Toronto, Feb. 11, 2020. THE CANADIAN PRESS/Cole Burston

TORONTO 鈥� 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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