Manulife reviews This autumn, full-year financials

Manulife has printed its monetary outcomes for the quarter and 12 months ended December 31, 2023.

Right here’s how the insurance coverage group carried out, in keeping with its earnings report:

Of the full-year web earnings attributed to shareholders, CA$1.2 billion got here from Canada; US$473 million from the US; and US$995 million from Asia.

Commenting on the numbers, Manulife president & chief govt Roy Gori mentioned: “2023 was a milestone 12 months for Manulife as we continued to execute on our transformation journey. We delivered sturdy enterprise outcomes of 17% and 13% progress year-over-year in core EPS (earnings per widespread share) and core earnings, respectively, in addition to core ROE (return on widespread shareholders’ fairness) of 15.9% in 2023.

“We generated core earnings progress throughout all insurance coverage segments, double-digit will increase in all new enterprise metrics, and CA$4.5 billion of web inflows in world WAM (wealth and asset administration). We additionally introduced a milestone reinsurance transaction, together with the most important ever LTC (long-term care) threat switch.

“Our technique is grounded in making choices simpler and lives higher for our clients and driving larger worth for our shareholders. The dedication and fervour of our staff to ship has helped us excel in unsure market situations and obtain optimistic momentum as we start 2024.”

What do you consider this story? Share your ideas within the feedback beneath.