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Mar 31
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Manulife Q1 2025 Earnings Report
Manulife reported a decline in net income and EPS for Q1 2025, though core earnings remained strong, driven by performance in Asia and Global Wealth and Asset Management.
Key Takeaways
Manulife's Q1 2025 showed solid core earnings of $1.8 billion, though overall net income declined to $485 million due to market-related losses. EPS dropped sharply, while core EPS rose modestly. The company posted record insurance sales and net flows in Global WAM, with strong segment contributions from Asia.
Core earnings were $1.767 billion, supported by strong Asia and Global WAM performance.
Net income fell to $485 million due to realized losses tied to the RGA U.S. Reinsurance transaction.
EPS dropped to $0.25, while core EPS rose to $0.99.
Book value per share increased 12% year-over-year to $25.88.
Manulife
Manulife
Manulife Revenue by Geographic Location
Revenue by Geographic Location
Asia segment Revenue
CapyFin.comCanada segment Revenue
CapyFin.comU.S. segment Revenue
CapyFin.comGlobal WAM segment Revenue
CapyFin.com Forward Guidance
Manulife remains confident in its strategy and balance sheet, emphasizing continued insurance growth, digital innovation, and capital return to shareholders.
Positive Outlook
- Strong growth in insurance new business, especially in Asia.
- Steady increase in book value per share.
- Renewed key bancassurance partnerships.
- Product innovation across all geographies.
- AI-driven tools deployed to enhance advisor and customer experience.
Challenges Ahead
- Net income affected by $0.7 billion realized losses on debt instruments.
- Weaker returns from alternative and public equities.
- Reduced net inflows in Global WAM vs. prior year.
- Increased provisions for credit losses and California wildfire.
- Lower U.S. segment earnings due to unfavorable actuarial assumptions.