Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Manulife Financial Corp.    MFC   CA56501R1064

MANULIFE FINANCIAL CORP. (MFC)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweetsMarketScreener Strategies

Manulife Financial : Canada's Manulife, Sun Life post better-than-expected earnings

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/08/2018 | 12:16am CET

TORONTO (Reuters) - Manulife Financial Corp and Sun Life Financial, two of Canada's biggest insurers, on Wednesday posted third-quarter earnings that surpassed market expectations, helped by sales growth in Asia.

Canadian insurance companies have been expanding rapidly in the region, selling products to its growing middle class. The strategy is helping them drive growth and diversify from their domestic markets, where competition is intense.

Manulife said earnings per share, excluding one-off items, were C$0.75 in the third quarter, compared with C$0.53 a year ago. Analysts on average expected earnings of C$0.67 per share, according to IBES data from Refinitiv.

Sun Life reported earnings per share, excluding onetime items, of C$1.20 in the third quarter, compared with C$1.05 a year ago. Analysts had on average forecast earnings of C$1.17, according to IBES data from Refinitiv.

Manulife said sales grew by 13 percent in Asia during the quarter, benefiting from strong growth in Japan and Hong Kong. Sun Life said insurance sales in Asia increased by 7 percent, led by growth in India.

Sun Life Chief Executive Officer Dean Connor said he was bullish about the company's prospects in the region.

"The year-to-date growth is good and the longer term trend is also looking good," he said.

Manulife said it earned C$1.54 billion ($1.17 billion) during the quarter, excluding one-off items, up from C$1.09 billion a year ago. Core earnings at its Asian business rose to C$457 million from C$374 million a year ago.

Aside from growth in Asia, Manulife said it also benefited from positive net flows in its wealth and asset management businesses and cost efficiencies.

Sun Life said its net income, excluding one-off items, rose by 14 percent to C$730 million.

(Reporting by Matt Scuffham; editing by Bill Berkrot and Dan Grebler)

Stocks mentioned in the article
ChangeLast1st jan.
MANULIFE FINANCIAL CORP. 0.05% 22.01 Delayed Quote.-16.06%
SUN LIFE FINANCIAL INC -0.84% 48.62 Delayed Quote.-6.28%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MANULIFE FINANCIAL CORP.
11/19MANULIFE FINANCIAL CORP. : Ex-dividend day for
FA
11/16MANULIFE FINANCIAL : announces Automatic Share Repurchase Plan
PR
11/13JOHN HANCOCK : Partners with Professional Football Rookies in "The Long Game" To..
PR
11/12MANULIFE FINANCIAL : announces Normal Course Issuer Bid
PR
11/08MANULIFE FINANCIAL : Wins Four Thomson Reuters Lipper 2018 Awards
AQ
11/08MANULIFE FINANCIAL : Q3 earnings get Asia boost while region weighs on Sun Life ..
AQ
11/08MANULIFE FINANCIAL : shares rise 7 percent on better-than-expected earnings
RE
11/08MANULIFE : 3Q Earnings Snapshot
AQ
11/08MANULIFE FINANCIAL : Q3 profit surges to $1.57 billion despite lower Canadian co..
AQ
11/08MANULIFE FINANCIAL : Canada's Manulife, Sun Life post better-than-expected earni..
RE
More news
News from SeekingAlpha
11/1611 Upcoming Dividend Increases 
11/09Manulife Financial Corporation (MFC) CEO Roy Gori on Q3 2018 Results - Earnin.. 
11/0810 'Safer' Dividend Champions, Contenders, And Challengers To Gain 24.2% To 6.. 
11/08Manulife Financial Corporation 2018 Q3 - Results - Earnings Call Slides 
11/07More on Manulife Q3 results 
Financials (CAD)
Sales 2018 43 269 M
EBIT 2018 6 248 M
Net income 2018 5 553 M
Debt 2018 -
Yield 2018 3,98%
P/E ratio 2018 7,99
P/E ratio 2019 7,79
Capi. / Sales 2018 1,01x
Capi. / Sales 2019 0,79x
Capitalization 43 684 M
Chart MANULIFE FINANCIAL CORP.
Duration : Period :
Manulife Financial Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MANULIFE FINANCIAL CORP.
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 29,4  CAD
Spread / Average Target 33%
EPS Revisions
Managers
NameTitle
Roy Gori President, Chief Executive Officer & Director
John M. Cassaday Chairman
Linda Mantia Chief Operating Officer & Senior Executive VP
Philip Witherington Chief Financial Officer
Gregory A. Framke Chief Information Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
MANULIFE FINANCIAL CORP.-16.06%33 200
AXA-12.65%59 805
PRUDENTIAL-18.26%51 788
METLIFE-13.05%43 381
PRUDENTIAL FINANCIAL-20.37%37 814
AFLAC1.55%33 930