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 newsAnalyst Recommendations

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
11/07/2018 | 07:16pm EDT

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. -2.44% 22.36 Delayed Quote.15.44%
SUN LIFE FINANCIAL INC -2.01% 50.32 Delayed Quote.13.38%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MANULIFE FINANCIAL CORP.
03/22MANULIFE FINANCIAL : Investments Announces Portfolio Manager Changes to Two Fund..
AQ
03/20MANULIFE FINANCIAL : Investments Closed-End Funds Announce Monthly Fund Distribu..
AQ
03/20MANULIFE FINANCIAL : DBRS Comments on Court Ruling in Favour of Manulife and Ind..
AQ
03/18MANULIFE FINANCIAL : Canadian court rules in favor of Manulife in dispute with M..
RE
03/18MANULIFE FINANCIAL : says Saskatchewan court has ruled in its favour in Mosten c..
AQ
03/18MANULIFE FINANCIAL : Statement on Decision in Mosten Litigation
PR
03/18MANULIFE FINANCIAL : Statement on Decision in Mosten Litigation
AQ
03/15MANULIFE FINANCIAL : Management Information Circular and Annual Report Available..
PR
03/14MANULIFE FINANCIAL : Investments Announces Results of Special Meetings of Securi..
AQ
03/13JOHN HANCOCK : Investments Launches John Hancock : Multifactor Media and Communi..
PR
More news
Financials (CAD)
Sales 2019 47 336 M
EBIT 2019 5 800 M
Net income 2019 5 389 M
Debt 2019 -
Yield 2019 4,47%
P/E ratio 2019 8,16
P/E ratio 2020 7,37
Capi. / Sales 2019 0,93x
Capi. / Sales 2020 0,87x
Capitalization 43 919 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
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 28,1  CAD
Spread / Average Target 26%
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.15.44%32 728
AXA18.41%61 190
PRUDENTIAL PLC11.23%53 439
METLIFE5.26%40 004
AFLAC8.56%37 111
PRUDENTIAL FINANCIAL10.31%36 794