Manulife Financial ( (MFC) ) has released its Q4 earnings. Here is a breakdown of the information Manulife Financial presented to its investors.
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Manulife Financial Corporation, a leading global financial services group, provides insurance and wealth management products in various markets across Asia, Canada, and the U.S. In its latest earnings report, Manulife showcased robust financial growth for the year 2024, with record core earnings and substantial increases in top-line business metrics. The company reported core earnings of $7.2 billion, an 8% increase from the previous year, and a 6% rise in the fourth quarter compared to the same period in 2023. Other notable achievements include a 30% increase in insurance new business results and significant net inflows in Global Wealth and Asset Management.
Manulife’s 2024 financial performance highlights include an 11% growth in core EPS and a return on equity of 16.4%. The company also announced strategic initiatives such as reinsurance transactions and digital advancements across its global operations. Asia led the growth with a 27% increase in core earnings, while Global WAM reported a 30% increase in core earnings driven by strong net flows and market impacts. In Canada, core earnings rose by 11%, attributed to favorable insurance experiences and business growth.
The company’s strategic focus on digital transformation and customer-centric initiatives has positioned it well for sustained growth. Manulife’s investments in AI and digital tools have enhanced customer engagement and operational efficiency. In the U.S., despite challenges leading to lower investment spreads, the company saw increased demand for insurance products among affluent customers.
Looking ahead, Manulife remains optimistic about its growth trajectory, underpinned by a solid foundation and strategic initiatives aimed at delivering value to shareholders. The management is confident in its ability to continue generating strong financial results amidst evolving market conditions, reinforcing its commitment to shareholders and customers alike.
