Manulife Financial Corp. says it earned record profits last year as fourth-quarter net income increased 17% to $2.08 billion.<\/p>\n
The Toronto-based insurer and financial services company says its earnings attributable to shareholders reached $7.1 billion in 2021, up 21% from $5.87 billion in 2020, driven by its insurance business.<\/p>\n
For the three months ended Dec. 31, Manulife earned $1.03 per diluted share, up from 89 cents per share or $1.78 billion a year earlier.<\/p>\n
Core earnings were $1.71 billion or 84 cents per share, two cents higher than forecast by analysts, according to financial data firm Refinitiv. They compared with $1.47 billion or 74 cents per share in the fourth quarter of 2020.<\/p>\n
Core full-year earnings grew to $6.54 billion or $3.25 per share, from $5.52 billion or $2.75 per share in the prior year.<\/p>\n
New business increased to $555 million in the quarter and to $2.24 billion for the year, with Asia contributing $391 million and $1.67 billion respectively.<\/p>\n
“Our ability to adapt and serve clients across the globe who are navigating a very uncertain environment continues to drive our operating results,” stated CEO Roy Gori<\/p>\n
Manulife said its assets under management and administration, in global wealth and asset management, grew by more than $100 billion last year.<\/p>\n
The insurer’s AUM was $856 billion as of Dec. 31, up from $754 billion a year earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"
Q4 profit grew 17%<\/p>\n","protected":false},"author":145539,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2318,2312],"tags":[2483],"yst_prominent_words":[7730,39330,27245,19933,18553,18543,14674,12095,11179,8683,6,7198,7071,5072,2144,1830],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/439088"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/145539"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=439088"}],"version-history":[{"count":4,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/439088\/revisions"}],"predecessor-version":[{"id":439129,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/439088\/revisions\/439129"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=439088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=439088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=439088"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=439088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}