MANULIFE(US:MFC)2024-02-15 14:27Financial Performance Highlights - Manulife's APE sales increased by 12% to $64 billion in 2023[37] - New business value grew by 10% to $23 billion[37] - Core EPS increased by 17% to $347[37] - Core ROE expanded to 159% achieving the medium-term target of 15%+[114] Business Segment Performance - Asia's APE sales increased by 11% to $731 million in 4Q23[173] - Global Wealth and Asset Management (WAM) average AUMA increased by 5% to $817 billion in 4Q23[176] - Global WAM net flows were positive at $45 billion in 2023[37] Capital Management - Manulife's LICAT ratio increased by 6 percentage points to 137%[37] - The company expects to release $12 billion of capital in 2024 from the LTC reinsurance deal[134] Strategic Initiatives - Manulife is focused on growing its high-return businesses and improving ROE[153] - The company is reducing risk by transacting on a LTC block representing 14% of total LTC insurance contract net liabilities[152]