Life insurance results weighed on performance, but new business value still climbed
Manulife Financial Corporation reported net income attributed to shareholders of C$1.8 billion for the second quarter of 2025, an increase of C$0.7 billion from the same period in 2024.
The company’s core earnings for the quarter totaled C$1.7 billion, a 2% decline compared to the prior-year period.
The drop in core earnings reflected adverse life insurance claims in the US and increased expected credit loss (ECL) provisions, which offset growth in other business segments. Global Wealt…