Manulife Financial Corporation has reported strong earnings in its Asia segment, with a 57% increase in net income for the first quarter of 2025. However, its global earnings faced a decline during the same period.
In Q1 2025, Manulife’s net income attributable to shareholders in Asia soared 57% year-on-year (YoY) to $435 million. The company also saw impressive growth in other key financial metrics. Core earnings in the region rose by 7% YoY to $492 million. Additionally, annual premium equivalent sales climbed by 50% YoY to $1.4 billion, and new business value surged by 43% YoY, reaching $457 million.
While Manulife’s Asia performance was robust, its global earnings for Q1 2025 contracted by 47% YoY to $485 million. This global decline was in contrast to the strong results seen in Asia, highlighting a disparity in regional performance.
Phil Witherington, President and CEO of Manulife Asia, expressed optimism in a press release, stating, “2025 has got off to a strong start for Manulife in Asia. Building on last year’s momentum, the Asia segment achieved record levels across all value metrics in the first quarter, including annualised premium equivalent, new business value, and new business contractual service margin.”
Manulife’s performance in Asia has exceeded expectations in Q1 2025, with significant gains in key financial indicators. Despite global earnings facing challenges, the company’s success in the Asia market is a positive sign for its future growth in the region.
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