Fourth-quarter profit at Manulife Financial Corp. jumped 77% because of a strong contribution from John Hancock in the United States, the company said today.

Net income rose to a record $759 million, or 93¢ a share, for the period ended Dec. 31, from $428 million, or 92¢ a share, a year earlier.

The Canadian dollar’s strength against the U.S. dollar through the quarter shaved net income by about $38 million, Manulife said.

The insurer said return on equity fell to 13% from 19.1% in the quarter.

Total premiums and deposits rose to $14.2 billion, 73% higher than the fourth quarter of 2003.

During the fourth quarter, the insurer took an after-tax charge of $44 million for integration expenses and after-tax provisions for tsunami-related claims of $13 million.

Excluding integration costs, Manulife earned 99¢ a share, compared with 92¢ in the same period a year ago.

Manulife said the integration of John Hancock, which the firm acquired last year, is ahead of schedule and the company is on track to reach a target run rate of $325 million by the end of the year.

“This was a transformational year for Manulife Financial,” said Dominic D’Alessandro, president and CEO, in a news release.

“The John Hancock transaction significantly expanded our North American business footprint, extended our distribution channels and brought the well-recognized John Hancock brand name to our U.S. operations.”