Insurer’s Canadian core earnings up 4%
The cuts come just a year after the insurer cut 250 positions in its investment management division
Manulife unit only major financial firm to adopt TNFD recommendations
Great-West, Manulife enjoyed strong second-quarter results
Better market performance was offset by sizable loss on sale of debt instruments
Insurer has been working to shed assets with a low return on equity
Claims for substance abuse and mental health issues also increasing
Company says it will ramp up share buybacks
Earnings hurt by declining property values, rising credit losses
In Canada, assets under management were up 3% in 2023