Financial Performance - Core earnings for 2024 reached CAD 7.2 billion, an 8% increase from 2023, with Q4 core earnings at CAD 1.9 billion, up 6% year-over-year [3]. - Net income attributable to shareholders for 2024 was CAD 5.4 billion, an increase of CAD 300 million compared to 2023, with Q4 net income at CAD 1.6 billion, relatively stable compared to Q4 2023 [3]. - The core EPS for 2024 was CAD 3.87, an 11% increase from 2023, with Q4 core EPS at CAD 1.03, up 9% year-over-year [3]. - Core earnings for Q4 2024 reached CAD 1,907 million, up from CAD 1,773 million in Q4 2023, representing an increase of 7.5% [29]. - Total core earnings for the full year 2024 were CAD 7,226 million, compared to CAD 6,684 million in 2023, reflecting a growth of 8.1% [29]. - The net income attributable to shareholders for Q4 2024 was CAD 1,638 million, compared to CAD 1,659 million in Q4 2023, showing a slight decrease of 1.3% [29]. - The company reported a market experience loss of CAD 192 million in Q4 2024, compared to a gain of CAD 186 million in Q3 2024 [29]. Capital Management - The company recorded CAD 7 billion in capital repatriation for 2024, compared to CAD 5.5 billion in 2023 [3]. - A total of CAD 3.2 billion was used to repurchase and cancel 4.6% of the issued common shares, equating to over 82 million shares [3]. - The company announced a 10% increase in quarterly common share dividends and initiated a new normal course issuer bid to repurchase up to 3% of issued common shares [3]. Sales and Growth - APE sales for 2024 reached CAD 8.4 billion, a 30% increase from 2023, with Q4 APE sales at CAD 2.2 billion, up 42% year-over-year [6]. - Total inflows for the year were CAD 171.7 billion, a 19% increase from CAD 143.4 billion in 2023, with Q4 inflows at CAD 43.5 billion, up 21% from CAD 35.1 billion [9]. - The company achieved net inflows of CAD 13.3 billion in global wealth and asset management business for 2024, a significant increase from CAD 4.5 billion in 2023 [6]. - The retirement business net inflows for 2024 were CAD 700 million, a significant improvement from a net outflow of CAD 4 billion in 2023, attributed to the absence of large plan redemptions and increased sales of new retirement plans [22]. Operational Efficiency - Core EBITDA margin improved to 28.6% in 2024, up 290 basis points from 25.7% in 2023, reflecting operational efficiency [9]. - The company successfully launched 27 generative AI applications by the end of 2024, with 32 more in development, enhancing customer engagement and operational efficiency [15]. - The overall business performance indicates a consistent growth trajectory, with a focus on improving operational efficiencies and market presence [53]. Regional Performance - In Asia, the Manulife Pro program expanded to Indonesia, Japan, and Hong Kong, resulting in a 23% year-over-year increase in agent APE sales in 2024 [12]. - APE sales in Asia for 2024 grew by 36%, with new business CSM and new business value increasing by 38% and 35% respectively, driven by broad growth across multiple Asian markets [22]. - In Canada, APE sales and new business value increased by 20% and 28% respectively, primarily due to growth in group insurance, participating life insurance, and segregated fund products [22]. - In the U.S., APE sales and new business value grew by 9% and 14% respectively, driven by increased demand for accumulation insurance products [22]. Expenses - Core expenses for Q4 2024 amounted to CAD 1,888 million, an increase from CAD 1,787 million in Q4 2023, representing a growth of 5.7% year-over-year [82]. - Total core expenses for the full year 2024 reached CAD 7,089 million, compared to CAD 6,682 million in 2023, reflecting an increase of 6.1% [82]. - General expenses in the income statement for Q4 2024 were CAD 1,328 million, up from CAD 1,180 million in Q4 2023, marking a 12.6% increase [82]. - Restructuring expenses in Q4 2024 totaled CAD 67 million, compared to CAD 46 million in Q4 2023, indicating a significant increase of 45.7% [82].

Core Viewpoint - Manulife Financial Corporation has appointed Nancy Carroll and John Montalbano to its Board of Directors, effective February 28, 2025, enhancing its governance with experienced professionals in financial services and asset management [1][4]. Group 1: New Board Members - Nancy Carroll has over 40 years of experience as a legal advisor in the insurance and reinsurance sectors, previously serving as a partner at McCarthy Tétrault LLP [2]. - John Montalbano is a seasoned executive in wealth and asset management, formerly the CEO of RBC Global Asset Management and currently the Principal of Tower Beach Capital Ltd [3]. Group 2: Board Contributions - The new board members are expected to provide valuable oversight of Manulife's strategy and operations, with Carroll joining the Audit Committee and Corporate Governance and Nominating Committee, while Montalbano will be part of the Management Resources and Compensation Committee and Risk Committee [4]. Group 3: Company Overview - Manulife Financial Corporation is a leading international financial services provider, operating under the Manulife brand in Canada, Asia, and Europe, and as John Hancock in the United States, serving over 36 million customers globally [5].

Financial Performance - Total core earnings for Q4 2024 reached $1,907 million, an increase from $1,773 million in Q4 2023, representing a growth of 7.5%[43] - Core earnings for Asia in Q4 2024 were $666 million, up from $564 million in Q4 2023, reflecting a growth of 18.1%[43] - The net income attributed to shareholders for the full year 2024 was $5,385 million, compared to $5,103 million in 2023, marking a year-over-year increase of 5.5%[43] - The core EPS for 2024 was reported at $4.00, compared to $3.73 in 2023, indicating a growth of 7.2%[43] - Core earnings available to common shareholders for the full year 2024 reached $6,915 million, compared to $6,381 million in 2023, reflecting a year-over-year growth of 8.4%[73] - Core earnings (post-tax) for 2023 totaled $6,684 million, with contributions from Asia ($2,048 million), Canada ($1,487 million), U.S. ($1,759 million), and WAM and Other ($1,321 million) [53] - The net income attributed to shareholders (post-tax) for 2023 was $5,103 million, with significant items excluded from core earnings resulting in a loss of $1,790 million from market experience [53] - In 4Q24, core earnings (post-tax) were reported at $1,907 million, with contributions from Asia ($666 million), Canada ($390 million), U.S. ($412 million), and WAM and Other ($481 million) [58] - The net income attributed to shareholders (post-tax) for 4Q24 was $1,638 million, reflecting a strong performance despite market experience losses of $192 million [57] - Core earnings (pre-tax) for 2023 reached $7,848 million, indicating a robust operational performance across all regions [54] - The total income (loss) before income taxes for 2023 was $6,452 million, indicating a solid revenue generation capability [53] Segment Performance - The Global Wealth and Asset Management segment reported core earnings of $481 million in Q4 2024, up from $353 million in Q4 2023, a significant increase of 36.3%[43] - The core revenue for Global WAM in Q4 2024 was $2,140 million, compared to $1,842 million in Q4 2023, reflecting a 16.2% increase[80] - Global WAM core earnings (post-tax) for Q4 2024 reached $481 million, up from $353 million in Q4 2023, representing a 36.2% year-over-year increase[79] - New business CSM net of NCI for Asia was $586 million in Q4 2024, compared to $424 million in Q4 2023, reflecting a 38.2% increase[78] Expenses and Charges - The restructuring charge for Q4 2024 was $52 million, compared to $36 million in Q4 2023, reflecting an increase of 44.4%[43] - Core expenses for Q4 2024 were $1,797 million, an increase of 4.7% from $1,725 million in Q4 2023[87] - Total expenses for Q4 2024 reached $1,888 million, up from $1,787 million in Q4 2023, reflecting a year-over-year increase of 5.6%[87] - The restructuring charge in Q4 2024 was $67 million, compared to $46 million in Q4 2023, indicating a significant increase in restructuring efforts[87] - For the full year 2024, core expenses totaled $6,899 million, a 5.3% increase from $6,550 million in 2023[87] - The company reported a total of $7,089 million in expenses for the full year 2024, compared to $6,682 million in 2023, marking an increase of 6.1%[87] Market and Investment Performance - The company experienced market experience losses of $192 million in Q4 2024, compared to gains of $186 million in Q3 2024[43] - The company’s total impact of new insurance business in CSM for Q4 2024 was $(622) million, compared to $2,674 million in Q4 2023, indicating significant volatility in investment performance[82] - Total investment income for the full year 2024 was $20,459 million, up from $19,318 million in 2023, indicating a growth of 5.9%[82] Future Outlook and Strategic Initiatives - The company plans to expand its digital and customer leadership initiatives, which are expected to drive revenue benefits and new business CSM growth[36] - Future outlook remains positive with ongoing investments in new products and technologies aimed at market expansion and enhancing customer engagement [56] - The company anticipates potential future common share repurchases as part of its strategic priorities[90] - Forward-looking statements indicate that the company aims to adapt products and services to changing market conditions[91] - The company emphasizes the importance of maintaining its reputation and financial strength amidst various market risks[93] Capital and Financial Ratios - The LICAT ratio for The Manufacturers Life Insurance Company as of December 31, 2024, was disclosed under regulatory requirements, indicating strong capital adequacy[34] - The adjusted book value as of December 31, 2024, was $63,994 million, an increase from $61,508 million as of September 30, 2024[75] - Core ROE for Q4 2024 was 16.5%, slightly down from 16.6% in Q3 2024 but up from 15.7% in Q2 2024[73] - The CSM, net of NCI, as of December 31, 2024, was $22,127 million, an increase from $20,930 million as of September 30, 2024[74]

Core Points - Manulife Financial Corporation has filed its 2024 audited annual financial statements and related MD&A with securities regulators, including the Canadian Securities Administrators and the U.S. Securities and Exchange Commission [1] - The financial information is accessible on the company's website, and shareholders can request a hard copy free of charge [1] Company Overview - Manulife Financial Corporation is a leading international financial services provider headquartered in Toronto, Canada, offering financial advice and insurance [2] - The company operates as Manulife in Canada, Asia, and Europe, and primarily as John Hancock in the United States [2] - As of the end of 2023, Manulife had over 38,000 employees, more than 98,000 agents, and thousands of distribution partners, serving over 35 million customers [2] - The company trades as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' in Hong Kong [2]

C$ unless otherwise stated                                                               TSX/NYSE/PSE: MFC     SEHK: 945TORONTO, Feb. 19, 2025 /PRNewswire/ - Manulife's Board of Directors today announced an increase of 10.0% or 4 cents per share to its quarterly common shareholders' dividend resulting in a dividend of $0.44 per share on the common shares of Manulife, payable on and after March 19, 2025, to shareholders of record at the close of business on March 5, 2025.In respect of the Company's Canadian ...

Core Viewpoint - Manulife Financial Corporation plans to initiate a Normal Course Issuer Bid (NCIB) to repurchase up to 51.5 million common shares, approximately 3% of its outstanding shares, to enhance shareholder value and manage capital effectively [1][3]. Group 1: NCIB Details - The NCIB allows Manulife to purchase up to 1,420,093 common shares daily on the TSX, which is 25% of the average daily trading volume of 5,680,374 shares over the past six months [2]. - The repurchase program is set to commence on February 24, 2025, and will continue until February 23, 2026, or until the maximum number of shares is repurchased [2]. - All shares acquired under the NCIB will be cancelled, and purchases will comply with Canadian and U.S. securities laws [4]. Group 2: Repurchase Flexibility - Manulife may also repurchase shares outside Canada and the U.S. and can acquire shares directly from other holders through private agreements, typically at a discount to market price [5]. - The company may engage in derivative-based programs to support its repurchase activities, including writing put options and entering into forward purchase agreements, subject to regulatory approval [5]. - Pre-defined plans with registered investment dealers may be established to facilitate repurchases during internal trading blackout periods [6]. Group 3: Previous NCIB Performance - In the previous NCIB (2024 NCIB), which started on February 23, 2024, Manulife repurchased 88,466,133 common shares at an average price of $39.11 per share, with the program set to expire on February 22, 2025 [7].

TSX/NYSE/PSE: MFC SEHK: 945                                                                                C$ unless otherwise stated TORONTO, Feb. 19, 2025 /PRNewswire/ - Manulife Financial Corporation ("Manulife" or the "Company") reported banner full year and fourth quarter results for the period ended December 31, 2024, with record core earnings, 30%+ increases across top-line business metrics1, double-digit core EPS2 growth for the full year, as well as declaring a common share dividend increase of 10% ...

C$ unless otherwise stated                                                                                   TSX/NYSE/PSE: MFC     SEHK: 945TORONTO, Feb. 18, 2025 /PRNewswire/ - Manulife Financial Corporation ("Manulife") today announced the applicable dividend rates for its Non-cumulative Rate Reset Class 1 Shares Series 19 (the "Series 19 Preferred Shares") (TSX: MFC.PR.N) and Non-cumulative Floating Rate Class 1 Shares Series 20 (the "Series 20 Preferred Shares").With respect to any Series 19 Preferred S ...

Core Viewpoint - Manulife Financial Corporation announced it will not redeem its Series 19 Preferred Shares on March 19, 2025, allowing holders to convert them into Series 20 Preferred Shares under certain conditions [1][2]. Group 1: Conversion Rights and Conditions - Holders of Series 19 Preferred Shares can convert them into Series 20 Preferred Shares on a one-for-one basis on March 19, 2025 [1]. - If there are fewer than 1,000,000 Series 19 Preferred Shares outstanding after March 4, 2025, all remaining Series 19 Preferred Shares will automatically convert into Series 20 Preferred Shares [2]. - Conversely, if there are fewer than 1,000,000 Series 20 Preferred Shares outstanding after March 4, 2025, no Series 19 Preferred Shares will be converted [2]. Group 2: Dividend Rates - The dividend rates for Series 19 Preferred Shares for the period from March 20, 2025, to March 19, 2030, and for Series 20 Preferred Shares for the period from March 20, 2025, to June 19, 2025, will be announced on February 18, 2025 [3]. Group 3: Redemption and Listing - Manulife may redeem Series 19 Preferred Shares on March 19, 2030, and every five years thereafter, and may redeem Series 20 Preferred Shares after March 19, 2025 [5]. - The Toronto Stock Exchange has conditionally approved the listing of Series 20 Preferred Shares, pending fulfillment of listing requirements [6]. Group 4: Company Overview - Manulife Financial Corporation is a leading international financial services provider, operating under the Manulife brand in Canada, Asia, and Europe, and as John Hancock in the United States [8][9]. - The company serves over 35 million customers globally and trades as 'MFC' on multiple stock exchanges [9].

C$ unless otherwise stated                                                                                      TSX/NYSE/PSE: MFC     SEHK: 945 TORONTO, Jan. 29, 2025 /PRNewswire/ - Manulife Financial Corporation will release its fourth quarter and full year 2024 financial results after markets close on Wednesday, February 19, 2025, which will be made available at manulife.com/en/investors/results-and-reports.  A live webcast and conference call are scheduled for Thursday, February 20, 2025, at 8:00 a.m. (E ...