Adriano Marchese
Manulife Financial's stock declined after the company said a challenging insurance environment in Canada and the U.S. led to lower-than-expected earnings in the first quarter.
Shares were off by 5.6% to 51.53 Canadian dollars, equivalent to $37.59 in midday trading Thursday, but are still up 3.4% on the year.
The diversified financial-services company and insurer late Wednesday reported core earnings per share of C$1.06, missing analyst expectations of C$1.10, according to FactSet.
In Canada, Manulife said an unfavorable insurance experience led to a 6% drop in core earnings, while in the U.S. lower investment spreads led to a 4% decline.
Those results offset growth in Asia, where the company saw a 22% increase in core earnings as business continued to grow in the region.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 14, 2026 12:17 ET (16:17 GMT)
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