MANULIFE-S (00945) announces its 2025 annual performance with a core profit of 7.5 billion Canadian dollars.

MANULIFE-S (00945) released the full-year and fourth quarter performance for 2025. The core profit for 2025 reached 7.5 billion Canadian dollars, an increase of 3% compared to 2024, calculated at a fixed exchange rate. The core profit for the fourth quarter of 2025 reached 2 billion Canadian dollars, a 5% increase over the fourth quarter of 2024. The net income attributable to shareholders for 2025 was 5.6 billion Canadian dollars, an increase of 2 billion Canadian dollars from 2024; the net income attributable to shareholders for the fourth quarter of 2025 was 1.5 billion Canadian dollars, a decrease of 1 billion Canadian dollars from the fourth quarter of 2024. The core EPS for 2025 was 4.21 Canadian dollars, an increase of 8% compared to 2024; the core EPS for the fourth quarter of 2025 was 1.12 Canadian dollars, a 9% increase from the fourth quarter of 2024. The core ROE for the full year and fourth quarter of 2025 were 16.5% and 17.1% respectively. Compared to 2024, the APE sales increased by 14% in 2025, new business CSM increased by 28%, and new business value increased by 18%. Compared to the fourth quarter of 2024, the APE sales in the fourth quarter of 2025 decreased by 1%, new business CSM increased by 21%, and new business value increased by 8%. Phil Witherington, President and CEO of Manulife, said: "The year 2025 is an important year for Manulife. We achieved record core profits, completed a number of targeted strategic investments, and launched optimized corporate strategies. In all insurance business segments, we recorded over 20% growth in new business CSM, driving double-digit growth in CSM balances, laying a solid foundation for future profits. Through prudent capital deployment, we further strengthened our diversified business layout, including the acquisition of Comvest Credit Partners, announcing a joint venture with Mahindra to enter the Indian life insurance market, establishing a high net worth customer office in the Dubai International Financial Center, and reaching an agreement to acquire Schroders Global in Indonesia. These measures expand our world-class investment and insurance solutions for clients. In addition, Evident AI has recognized Manulife as the largest life insurance company in terms of AI maturity and responsible innovation, further reflecting our commitment to becoming an AI-driven company and actively using AI technology to enhance customer experience and productivity, delivering tangible value. Looking ahead to 2026, we will continue to build on this momentum. Despite ongoing uncertainties in the macroeconomic and geopolitical environment, with our continued and rigorous execution, diversified business portfolio, and winning team and culture, we are confident in seizing opportunities, achieving goals, and continuously bringing high-quality and sustainable long-term growth."