The insurer reported C$1.9 billion in core earnings, double-digit growth across insurance new business metrics, and C$2.1 billion in net income attributed to shareholders.
Manulife Financial Corporation reported stronger second-quarter 2026 earnings, with core EPS rising 16% from a year earlier and all three insurance new business metrics posting double-digit growth. Core earnings were C$1.9 billion, up 12% on a constant exchange rate basis, while net income attributed to shareholders climbed to C$2.1 billion from C$1.8 billion in the second quarter of 2025. Core ROE (return on equity) reached 16.3%, ROE was 18.0%, and the LICAT ratio (Canadian life insurer capital test) stood at 136%. Growth was led by Asia and Global Wealth and Asset Management, while Canada was weaker and U.S. results benefited from improved claims experience. APE sales (annualized premium equivalent) rose 21%, new business CSM (contractual service margin) increased 16%, and new business value gained 10% from a year earlier. Global WAM recorded C$0.4 billion of net inflows, below C$0.9 billion a year earlier, as institutional inflows offset retirement and retail pressures. Management said product launches, distribution expansion and wider use of AI (artificial intelligence) supported momentum during the quarter. The company also said a long-term care reinsurance transaction announced on Aug. 5 is expected to close in Q4 2026, subject to regulatory approvals, and should further reduce its risk profile.