Core Insights - Manulife Financial Corporation reported record core earnings and insurance new business results for the year 2025, with a 10.2% increase in common share dividends [1][2] - The company announced a new Normal Course Issuer Bid program to repurchase up to 2.5% of outstanding common shares, expected to commence in late February 2026 [1][2] - The company achieved over 20% growth in new business CSM across all insurance segments, contributing to double-digit growth in CSM balance [1][3] Financial Performance - Core earnings for 2025 reached $7.5 billion, a 3% increase from 2024, with 4Q25 core earnings at $2.0 billion, up 5% year-over-year [3][4] - Net income attributed to shareholders for 2025 was $5.6 billion, a $0.2 billion increase compared to 2024, while 4Q25 net income was $1.5 billion, down $0.1 billion from 4Q24 [3][4] - The company reported a core EBITDA margin improvement of 260 basis points in Global WAM [1][2] Business Segments Performance - In Asia, net income attributed to shareholders increased by 22% to $2.1 billion, with core earnings up 18% [3][4] - Canada saw a net income decrease of 43% to $1.3 billion, while core earnings increased by 6% [3][4] - The U.S. segment reported a net income loss of $367 million, with core earnings down 22% [3][4] Strategic Initiatives - Manulife entered the Indian life insurance market through a joint venture with Mahindra, expanding its global footprint [1][2] - The company acquired 75% of Comvest Credit Partners, enhancing its private credit capabilities [2][3] - A new simplified lending suite was launched in Canada to streamline the lending experience for high-net-worth clients [2][3] Customer Engagement and Innovation - The company launched the Manulife Longevity Institute, investing $350 million through 2030 to promote healthier and financially secure lives [2][3] - Manulife deployed GenAI sales enablement solutions across multiple markets, enhancing client interactions and sales performance [2][3] - A strategic collaboration with Bupa International Limited was established to enhance healthcare access for customers in Hong Kong [2][3] Market Trends and Challenges - Global WAM experienced net outflows of $14.3 billion in 2025, compared to net inflows of $13.3 billion in 2024, driven by lower net sales through third-party intermediaries [4][5] - The company faced challenges in the U.S. segment due to unfavorable life insurance claims experience and lower investment spreads [3][4] - Despite macroeconomic uncertainties, the company remains focused on disciplined execution and sustainable growth [1][2]

Core Insights - Manulife Financial Corporation reported record core earnings of $2.0 billion for the third quarter of 2025, reflecting a 10% increase compared to the same period in 2024 [6][20] - The company achieved a core EPS of $1.16, up 16% year-over-year, and net income attributed to shareholders was $1.8 billion, consistent with the previous year [4][21] - The strong performance was driven by growth across its Asia, Global Wealth and Asset Management (WAM), and Canada segments, with new business momentum continuing [2][23] Financial Performance - Core earnings increased by 10% year-over-year, with a core ROE of 18.1% and a LICAT ratio of 138% [3][6] - APE sales rose by 8%, new business CSM increased by 25%, and NBV grew by 11% compared to the third quarter of 2024 [6][24] - Global WAM experienced net outflows of $6.2 billion, contrasting with net inflows of $5.2 billion in the same quarter last year [6][24] Segment Performance - Asia's core earnings rose by 29%, driven by business growth and improved insurance experience [23][36] - Canada saw a 4% increase in core earnings, supported by higher investment spreads and favorable insurance experience [23][36] - The U.S. segment reported a 20% decrease in core earnings, primarily due to unfavorable life insurance claims experience [23][36] Strategic Developments - Manulife completed the acquisition of Comvest Credit Partners, enhancing its private credit capabilities [9] - The company also agreed to acquire Schroders Indonesia, reinforcing its position as the largest asset manager in Indonesia [10] - A joint venture with Mahindra & Mahindra Ltd. was established to enter the Indian insurance market, expanding Manulife's global footprint [11] Customer Experience Innovations - The launch of the Manulife AI Assistant in Hong Kong aims to improve customer service through AI-powered solutions [12] - An enhanced online application form for life and health insurance in Canada aims to streamline processes and improve advisor efficiency [13] - The introduction of a GenAI-powered coaching tool for insurance advisors is designed to enhance customer service and sales outcomes [14] Recognition and Ratings - Manulife was included in the TIME World's Best Companies 2025 List, highlighting its employee satisfaction, revenue growth, and sustainability transparency [8] - The company received an upgrade from MSCI, moving from AA to AAA in its ESG rating, reflecting strong governance and sustainability management [8]