Manulife Financial-S (00945) announced its third-quarter results for the period ending September 30, 2025, achieving record-high core earnings and double-digit growth in core EPS. Core earnings reached CAD 2 billion, marking a 10% increase from Q3 2024 on a constant currency basis. Excluding the impact of expected credit loss (ECL) adjustments, core earnings stood at CAD 2 billion, up 6% year-over-year. Net income attributable to shareholders was CAD 1.8 billion, consistent with Q3 2024 levels. Core EPS rose 16% to CAD 1.16, while EPS grew 2% to CAD 1.02. Core ROE reached 18.1%, with ROE at 16.0%. The Life Insurance Capital Adequacy Test (LICAT) ratio was 138%.

APE sales increased 8% compared to Q3 2024, while new business CSM surged 25% and new business value grew 11%. Global Wealth and Asset Management recorded net outflows of CAD 6.2 billion, contrasting with net inflows of CAD 5.2 billion in Q3 2024.

"Through disciplined execution and the diversified strengths of our global operations, we delivered another quarter of strong financial and operational performance," the company stated. "Core earnings in Asia, Global Wealth and Asset Management, and Canada all reached record highs, with new business momentum remaining robust—each of our three insurance divisions posted new business CSM growth of 15% or higher. Despite net outflows in Global Wealth and Asset Management, core EBITDA margins continued to expand, demonstrating sustained operational leverage. Additionally, our strategic acquisitions—Comvest Credit Partners and the agreement to acquire Schroders’ Indonesia business—underscore our rigorous capital allocation and long-term growth strategy. These moves enhance our service capabilities and client solutions, driving further business expansion."

"Our updated strategy, with its clear priorities, not only reinforces confidence in achieving our 2027 targets but also solidifies Manulife’s foundation as a Canada-headquartered global leader in diversified financial services for long-term success."