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castanet.net 12 May, 2022 14:45 am

Manulife Financial says it earned $3 billion in first quarter of 2022

Manulife Financial says it earned $3 billion in first quarter of 2022
Manulife Financial Corp. says it earned $3 billion in the first quarter of 2022, an increase of $2.2 billion from the same quarter of 2021.

In Asia, Manulife's new business volumes decreased 28 per cent in the quarter to $340 million.Manulife says its annual premium equivalent sales decreased 17 per cent in Asia due to continued adverse impacts from COVID-19 in Hong Kong and several other markets.says it earned $3 billion in the first quarter of 2022, an increase of $2.2 billion from the same quarter of 2021.

Manulife says the increase in net income was driven by gains from the direct impact of markets compared to losses in the prior quarter, as well as investment-related experience and higher-than-expected returns on alternative long-duration assets.6 billion, down four per cent year-over-year in part due to lower new business gains in Asia.

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