Core Insights - Manulife Financial Corporation reported third-quarter 2025 core earnings of 84 cents per share, exceeding the Zacks Consensus Estimate by 13.5% and reflecting a 15% year-over-year improvement [2][3] - The company's core earnings totaled $1.4 billion (C$2 billion), marking a 7.6% increase year over year, driven by strong growth in Global Wealth and Asset Management (WAM), Asia, and Canada [3] - New business value (NBV) for the quarter was $657 million (C$906 million), up 6.3% year over year, attributed to higher sales volumes in Asia, Canada, and the U.S. division [4] Financial Performance - Wealth and asset management assets under management and administration reached $774 billion (C$1,066 billion), a 9.6% increase year over year, despite net outflows of $4.5 billion (C$6.2 billion) [5] - Core return on equity improved by 150 basis points year over year to 18.1% [5] - Adjusted book value per common share rose to $38.22, reflecting a 12% year-over-year increase [6] Segment Performance - Global WAM's core earnings were $381 million (C$525 million), up 9% year over year, driven by higher net fee income and performance fees [7] - Asia division's core earnings reached $550 million, a 29% increase year over year, supported by improved insurance experience and business growth [8] - Canada division's core earnings were $310 million (C$428 million), up 2.6% year over year, driven by higher investment spreads and business growth in group insurance [9] - The U.S. division reported core earnings of $241 million, down 20% year over year, primarily due to unfavorable life insurance claims [10] Market Outlook - Analysts have not issued any earnings estimate revisions in the last two months, indicating a stable outlook [12] - Manulife holds a Zacks Rank 2 (Buy), suggesting an expectation of above-average returns in the coming months [14] - The company is positioned within the Zacks Insurance - Life Insurance industry, which has shown positive performance, with peers like Reinsurance Group gaining 6.6% over the past month [15]

Group 1 - The core viewpoint of the news is that the Hong Kong insurance stocks have collectively risen, driven by positive market sentiment and favorable regulatory changes [1] - China Taiping increased by nearly 4%, China Life by 2.3%, and other major insurers like China Ping An and China Taibao saw gains of nearly 2% [2] - Guosheng Securities reported that the insurance industry will benefit from the trend of bank deposits moving to insurance products, with diverse demands in retirement, healthcare, and savings expected to drive industry expansion [1] Group 2 - Short-term progress in the insurance companies' performance is expected to boost the liability side for 2026, with a significant reduction in the scheduled interest rates alleviating the risk of industry spread losses [1] - UBS highlighted that the recent notification from the National Financial Regulatory Administration to adjust risk factors for insurance companies encourages long-term patient capital, which is beneficial for market sentiment [1] - UBS reiterated China Ping An as the industry’s top pick with a "buy" rating and a target price of 70 HKD, citing attractive risk-reward dynamics [1]

Core Viewpoint - The Hong Kong insurance sector experienced a collective rise, driven by positive market sentiment and favorable regulatory changes, indicating a strong outlook for the industry in both the short and long term [1] Group 1: Market Performance - On December 12, major Hong Kong insurance stocks saw significant gains, with China Taiping rising nearly 4%, China Life up 2.3%, and China Ping An, China Taibao, and AIA increasing by nearly 2% [1] - The stock prices and their respective changes include: - China Taiping: 18.500, +3.76% - China Life: 27.440, +2.31% - China Taibao: 33.380, +1.95% - AIA: 78.750, +1.88% - China Ping An: 62.600, +1.79% - China Pacific Insurance: 16.830, +0.54% - China People's Insurance: 6.770, +0.15% [2] Group 2: Industry Outlook - Guosheng Securities reported that the insurance industry will benefit from the trend of bank deposits moving to insurance products, with diverse demands in retirement, healthcare, and savings expected to drive industry expansion [1] - The smooth progress of the insurance companies' "opening red" is anticipated to boost the liability performance in 2026 [1] - The adjustment of product reservation interest rates is expected to significantly alleviate the risk of industry interest spread losses, while the "integration of reporting and operations" is promoting a reduction in internal competition and increasing concentration among leading companies [1] Group 3: Regulatory Impact - UBS highlighted that the recent notification from the National Financial Regulatory Administration, which adjusts risk factors for insurance companies, reinforces the policy direction encouraging long-term patient capital, thus enhancing market sentiment [1] - The recent rise in Chinese government bond yields and the steepening yield curve are seen as beneficial for insurance companies in the long run [1] - UBS reiterated its preference for China Ping An as the top choice in the industry, maintaining a "buy" rating with a target price of 70 HKD, citing attractive risk-reward dynamics [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 3. 股份分類 | 優先股 | 股份類別 | A | 於香港聯交所上市 (註1) | 否 | | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 不設上限及無面值 | | | FF301 第 1 頁 共 12 頁 v 1.1.1 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 宏利金融有限公司 呈交日期: 2025年12月9日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00945 | 說明 | 普通股-不設上限及無面值 | | | | | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | 上月底結存 | | | | | | | | 增加 / 減少 (-) | | | | | | ...

Core Insights - Manulife Financial Asia Limited has won the ACES Awards 2025 in the category of Top Sustainability Advocates in Asia, marking its first regional win [1][2] Group 1: Sustainability Commitment - The award recognizes Manulife's commitment to sustainability through its Impact Agenda, environmental stewardship, and the integration of sustainable investing across its operations [2][3] - Manulife has achieved a 27% reduction in Scope 1 and 2 emissions and has planted over 1.4 billion trees, demonstrating its leadership in managing natural capital with over CAD$22 billion in timberland and agriculture assets under management [4] Group 2: Community and Employee Initiatives - Manulife has advanced community programs like Peso Smart and MLK Scholars, empowering thousands of youth across Asia and North America [4] - The company fosters well-being and belonging for over 39,000 employees and 109,000 agents globally through inclusive workplace initiatives [4] Group 3: Future Initiatives - The recently launched Manulife Longevity Institute aims to create a global platform to help people live longer, healthier, and more financially secure lives by 2030 [5]

Core Insights - Manulife Financial Corporation (MFC) achieved a 52-week high of $35.62 on December 5, closing at $35.29, reflecting a 10.5% increase over the past year, outperforming the industry's decline of 1.4% [1] - MFC has outperformed peers such as Primerica, Voya Financial, and Reinsurance Group of America, which saw declines of 11.8%, 11.1%, and 10.4% respectively [1] Financial Performance - MFC has a market capitalization of $59.43 billion, with an average trading volume of 1.8 million shares over the last three months [2] - The company has a mixed earnings surprise history, beating estimates in two of the last four quarters with an average surprise of 4.93% [2] - MFC's price-to-earnings ratio stands at 11.34X, above the industry average of 7.85X, indicating a premium valuation [7] Growth Strategy - MFC aims for half of its core earnings to come from Asia by 2025, supported by strong regional performance [6][12] - The company is expanding its Wealth and Asset Management business, with Europe identified as a key growth area [6][13] - The Zacks Consensus Estimate projects a 1.4% increase in earnings per share for 2025 and a 9.4% increase for 2026 [10] Shareholder Returns - MFC has a strong commitment to returning wealth to shareholders through dividends and buybacks, with a seven-year CAGR of 10% in dividends and a target payout ratio of 35-45% [14] - The company maintains a free cash flow conversion rate above 100%, reflecting solid earnings [15] Operational Efficiency - MFC's return on equity over the trailing 12 months is 16.1%, surpassing the industry average of 15.4%, indicating effective use of shareholder funds [11] - The company targets a medium-term expense efficiency ratio of less than 45%, aiming for diligent expense management to drive growth [16] Market Outlook - The average price target for MFC from 12 analysts is $38.06 per share, suggesting a potential upside of 7.9% from the last closing price [8] - MFC's solid capital position and consistent wealth distribution make it an attractive option for yield-seeking investors [17]

Core Viewpoint - Manulife Financial-S (00945) has priced a public offering of senior notes totaling $1 billion with an interest rate of 4.986% maturing in 2035, with the offering price set at 100 cents on the dollar [1] Group 1 - The total principal amount of the senior notes is $1 billion [1] - The interest rate for the notes is 4.986% [1] - The maturity date for the notes is set for December 2, 2035 [1] Group 2 - The net proceeds from the sale of the notes will be used for general corporate purposes, which may include future refinancing needs [1]

Core Viewpoint - Manulife Financial Corporation (00945) has priced a public offering of senior notes totaling $1 billion with an interest rate of 4.986% maturing in 2035, with the offering price set at 100 cents on the dollar [1] Group 1 - The total principal amount of the senior notes is $1 billion [1] - The interest rate for the notes is 4.986% [1] - The maturity date for the notes is December 2, 2035 [1] Group 2 - The net proceeds from the sale of the notes will be used for general corporate purposes, which may include future refinancing needs [1]

Core Viewpoint - Manulife Financial-S (00945.HK) has priced a public offering of senior notes totaling $1 billion with an interest rate of 4.986% maturing in 2035, at a public offering price of 100 cents on the dollar [1] Group 1 - The total principal amount of the senior notes is $1 billion [1] - The interest rate for the notes is set at 4.986% [1] - The maturity date for the notes is in 2035 [1] - The public offering price is 100 cents on the dollar [1]

除非另有註明，所有金額均按加元呈列 即時發佈 2025年12月2日 新聞稿 TSX/NYSE/PSE: MFC SEHK: 945 宏利金融有限公司為於美國公開發行的優先票據定價 宏利金融有限公司是全球領先的金融服務供應商，致力於幫助客戶輕鬆作出明智抉擇，實現精彩 人生。本公司為個人、團體及企業客戶提供理財建議與保險方案，全球總部位於加拿大多倫多， 在加拿大、亞洲及歐洲以「宏利」名稱營運，在美國則主要以「恒康」的名稱經營業務。本公司 通過「宏利財富與資產管理」，為全球個人客戶、機構客戶以及退休計劃成員提供投資、理財建 議及退休計劃服務。截至 2024 年底，本公司有超過 37,000 員工、超過 109,000 代理人以及數以 萬計的經銷合作夥伴，為 3,600 多萬客戶提供服務。本公司在多倫多、紐約及菲律賓證券交易所 以股份代號 MFC 上市，在香港交易所則以股份代號 945 上市。 多倫多 – 2025 年 12 月 2 日 – 宏利金融有限公司 (NYSE: MFC)（「本公司」）今天宣佈，已為於 美國公開發行的本金總額 1,000,000,000 美元、利率 4.986 厘、2035 年到期的優先票據 ...