Manulife Financial Corporation reported record core earnings of $2.1 billion, a 4% increase on a constant exchange rate basis compared to the prior year period, alongside diluted core earnings per share of $1.24, up 6%. Net income attributed to shareholders was $1.4 billion, down from $1.8 billion in the previous year due to larger net charges from market experience and Vietnam operations. The company also reported a core return on equity of 17.8% and an LICAT ratio of 136%. Global Wealth and Asset Management saw net outflows of $3.6 billion, significantly lower than the $6.2 billion outflow in the prior year quarter. Manulife Financial Corporation operates as a diversified financial services company providing life insurance, retirement solutions, and asset management globally.
