Manulife Financial Corp. is reporting record earnings for the second-quarter ended June 30.

The insurer said profit climbed 13% as revenues rose sharply and the company kept a tight rein on expenses.

Second-quarter net income was $343 million, or 7¢ per share, compared with a year-earlier profit of $308 million, or 63¢ per share.

Revenue rose 17% to $7.5 billion from $6.4 billion a year ago, the company said in a statement. Return on equity was 16.1% compared with 16.1 a year ago.

“Our second quarter results are very good, given the challenging market conditions we’ve been experiencing,” said Dominic D’Alessandro, president and CEO of Manulife Financial.

“Each of our core businesses continue to perform well, with good income growth in most insurance categories and strong sales growth in our North American wealth management businesses,” said Peter Rubenovitch, executive vice president and CFO

The Board of Directors approved a quarterly dividend of 14¢ per share.