MANULIFE(US:MFC)2024-08-08 13:37Financial Performance - Core EPS increased by 9% to C$0.91 in 2Q24, or 12% excluding GMT impact[19] - Adjusted book value per common share grew by 15% to C$33.96, reflecting 11% growth in book value per common share and 26% growth in CSM balance per common share[12, 20] - Core earnings increased 6% to C$1737 million in 2Q24, driven by strong business growth in Asia and Canada, improved insurance experience, and favorable impact of actuarial updates[23, 26] - Global WAM net flows were C$0.1 billion[12] Business Growth - APE sales increased by 17% to C$1907 million in 2Q24[12, 16] - New business value increased by 23% to C$723 million in 2Q24[12, 16] - New business CSM increased by 6% to C$628 million in 2Q24[12, 16] - Asia core earnings grew by 40% to US$472 million[13, 28] Capital Management - MLI's LICAT ratio was 139%[12] - Financial leverage ratio was 24.6%[12] Strategic Targets - The company has updated its 2027 targets, including a core ROE of 18%+[9] - Cumulative remittances target for 2024-2027 is C$22 billion+[10]