Manuvie annonce un bénéfice net de 1,04 milliard $ au deuxième trimestre

Signage is seen on Manulife Financial Corp.'s office tower in Toronto, Tuesday, Feb. 11, 2020. THE CANADIAN PRESS/Cole Burston

TORONTO - Manulife Financial Corp. says earnings were fairly flat in the second quarter as better market performance was offset by a sizable loss on a sale of debt instruments.

The insurer says net income attributable to shareholders came in at $1.04 billion, compared with $1.03 billion for the same quarter last year.

It says the quarter included a $300 million loss on debt instruments related to its deal to reinsure a $5.8 billion block of ºÚÁϳԹÏÍø universal life insurance.

Manulife says adjusted earnings, or what it calls core earnings, came in at $1.74 billion, up six per cent from $1.64 billion in the same quarter last year.

The quarter saw a 289-per-cent surge in net income from its Asia division to US$424 million, while its Canada division saw a 65-per-cent drop to $79 million and its U.S. division had a 28-per-cent drop in net income to US$98 million.

The swings were less dramatic on an adjusted basis but still showed the company's growing focus on growth in Asia with a 40-per-cent increase in core earnings compared with seven-per-cent growth in Canada.

This report by ºÚÁϳԹÏÍø was first published Aug. 7, 2024.

Companies in this story: (TSX:MFC)

ºÚÁϳԹÏÍø. All rights reserved.