Manulife's Core Earnings Flat in Q4 2020 Despite Challenging Environment
Manulife Financial Corporation's core earnings in Q4 2020 were flat YOY at $1.5 billion with offsetting impacts from the absence of core investment gains, lower investment income in the Corporate & Other segment, favourable in-force business growth for Asia & U.S., and higher average assets under management and administration from Global Wealth and Asset Management. F2020 core earnings totalled $5.5 billion, a decrease of 9% YOY.
Manulife Financial is a provider of financial protection and wealth management products and services, including individual life insurance, group life and health insurance, long-term care insurance, pension products, annuities and mutual funds to individual and group customers in Asia, Canada and the United States. Co. also provides investment management services with respect to Co.'s general fund assets, segregated fund assets, mutual funds, and to institutional customers. Co. also offers reinsurance services, specializing in property and aviation catastrophe risk reinsurance products.
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