Manulife's sales and profit per share rose, and its long-term care deal with Munich Re is meant to reduce risk. Canadian disability claims and U.S. insurance problems temper the gains, but reported growth across the business supports a better outlook.
The growth adds to Manulife's ability to produce future profit, and share buybacks also lifted profit per share. Asia and Global WAM led the gains. Canadian and U.S. insurance problems temper the picture, but reported sales and profit growth carry more weight.
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