Manulife Financial Corporation announced third quarter 2025 results for the period ended September 30, posting record core earnings of C$2.0 billion, a 10% increase on a constant exchange rate basis compared to the same quarter in 2024. Core earnings per share rose to C$1.16, representing 16% growth. Net income attributed to shareholders was C$1.8 billion, broadly consistent with the prior year.

The company’s insurance segments delivered notable growth, with a 25% rise in new business contractual service margin and an 11% jump in new business value. Asia’s core earnings climbed 29%, supported by continued business momentum and favorable insurance experience. In Canada, core earnings were up 4%, while the U.S. segment saw a 20% decline due partly to unfavorable claims experience.

Global Wealth and Asset Management faced net outflows of C$6.2 billion, reversing the C$5.2 billion in net inflows from the same period last year. However, Global WAM’s core EBITDA margin improved to 30.9%, reflecting expanded operating leverage.

During the quarter, Manulife advanced its strategic footprint through the completion of its purchase of Comvest Credit Partners, a U.S. private credit manager, and by entering an agreement to acquire PT Schroder Investment Management Indonesia. The company also announced a 50:50 life insurance joint venture with an existing partner in India, further diversifying its presence in key global markets. The LICAT ratio stood at 138%, and the financial leverage ratio improved to 22.7%, underlining Manulife’s robust capital position and balance sheet strength.