Seeking Alpha

Strong wealth sales propel Manulife

  • Core Q4 earnings of $685M compares to $554M a year ago. Core ROE for the year was 10.4% vs. 10.6% in 2012.
  • Insurance sales of $617M fell 32% from a year ago, thanks to particularly strong sales in Japan in the 2012 Q4 ahead of product changes, and "normal variability" of sales in Canadian Group Benefits. CEO Don Guloien: "Insurance sales were slightly lower than what we would have liked, but with better margins."
  • Wealth sales of $12.2B grew 15% from a year ago, with strong mutual fund sales propelling particularly strong growth in the U.S. and Canada. Asian sales fell 18% after a big Q4 in 2012 amid a fund launch in Japan.
  • Investment-related gains of $265M in Q, of which $50M made it to core earnings.
  • CC at 2 ET
  • Press release, Q4 results
  • MFC no trades premarket

Check out Seeking Alpha’s new Earnings Center »

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs