0001086888-26-000044
SEC filingManulife Financial Corporation reported Q1 2026 core earnings of $1.8 billion, up 8% on CER basis, with core EPS up 11% to $1.06 and net income attributed to shareholders up 149% to $1,147 million.
Manulife delivered strong Q1 2026 results with core earnings rising 8% to $1.8 billion on a CER basis, primarily fueled by 22% growth in Asia from business expansion and favorable 2025 actuarial updates, despite less favorable insurance experience. Global WAM core earnings edged up 2% on higher net fee income, Manulife | Comvest contributions, and expense discipline, offset by eMPF transition impacts. Canada saw a 6% decline due to unfavorable Group Insurance claims and higher expenses, while U.S. core earnings dipped 4% from lower investment spreads but benefited from improved insurance experience. Net income surged 149% to $1.1 billion, reflecting resilient performance amid volatility. CEO Phil Witherington highlighted double-digit core EPS and new business CSM growth across insurance segments, robust Asia momentum, Global WAM margin expansion, and strategic advances in health partnerships, AI scaling, and U.S. products. CFO Colin Simpson noted excess capital strength, improved leverage at 22.5%, record adjusted book value per share, and $1.2 billion returned to shareholders, including the Schroders Indonesia acquisition. LICAT ratio of 136% underscores capital adequacy. New business metrics shone with APE sales up 7%, CSM up 16%, and NBV up 7%, signaling sustained momentum despite Global WAM's $4.4 billion net outflows from eMPF effects.