MANULIFE-S (00945) Announces Q3 Results: Core Earnings C$2.1 Billion, Up 4% Year-on-Year

MANULIFE-S (00945) Announces Q3 2026 Results. Core earnings were C$2.1 billion, up 4% from Q3 2025 on a constant exchange rate basis; net income attributable to shareholders was C$1.4 billion, down C$400 million from Q3 2025; core EPS was C$1.24, up 6% from Q3 2025; EPS was C$0.82, down 21% from Q3 2025; core ROE was 17.8%, and ROE was 11.8%; the Life Insurance Capital Adequacy Test (LICAT) ratio was 136%; APE sales, new business CSM2 and new business value5 were broadly in line with Q3 2025; Global Wealth and Asset Management recorded net outflows of C$3.6 billion, compared with net outflows of C$6.2 billion in Q3 2025. "Our third-quarter results were strong, with core EPS reaching a new high and core ROE of 17.8%, driven primarily by double-digit growth in core earnings in Asia and a significant contribution from our North American insurance businesses. These results reflect our disciplined execution of the strategy we launched a year ago and demonstrate our ability to deliver sustained growth amid an uncertain market environment." "In the quarter, we enhanced our investment and protection products to give customers more choice; completed the largest fundraising ever for Manulife | Comvest's Comvest private credit platform; expanded the application of AI-enabled solutions to deliver tangible results for customers and advisors; and advanced new health and longevity solutions and partnerships. These initiatives are strengthening our competitive advantages, deepening customer relationships and creating long-term value for shareholders." Phil Witherington, President and Chief Executive Officer of Manulife "In the quarter, we continued to deploy capital prudently, returning C$1.3 billion to shareholders while maintaining a strong balance sheet, with a LICAT ratio of 136% and a financial leverage ratio below our medium-term target. In addition, we completed our annual review of actuarial methods and assumptions, which had an overall net favorable impact, further confirming the strength of our reserves." "While continuing to invest in growth across our businesses, we also further improved expense efficiency in the quarter. Our financial flexibility and consistent execution provide a solid foundation for continued long-term value creation." Colin Simpson, Chief Financial Officer of Manulife