Manulife Financial (00945) announced financial results for the first half and second quarter ending June 30. Net income for the first half reached CAD 3.257 billion, up 45% year-over-year on a constant currency basis, while core earnings totaled CAD 3.759 billion, up 10% year-over-year. Earnings per share for the period stood at CAD 1.85. The company reported new business value of CAD 1.873 billion for the first half, an 8% increase year-over-year, and annualized premium equivalent (APE) sales of CAD 5.519 billion, up 13% year-over-year.
Manulife Reports First-Half Financial Performance Ending June 30
For the first half ending June 30, Manulife Financial recorded net income of CAD 3.257 billion, representing a 45% increase year-over-year on a constant currency basis. Core earnings for the period totaled CAD 3.759 billion, up 10% year-over-year. Earnings per share reached CAD 1.85.
New business value for the first half amounted to CAD 1.873 billion, an 8% increase compared to the prior year. Annualized premium equivalent (APE) sales totaled CAD 5.519 billion, up 13% year-over-year.
Company Announces Second-Quarter Results and Quarterly Dividend
For the second quarter ending June 30, Manulife reported net income of CAD 2.11 billion, up 17% year-over-year. Core earnings for the quarter reached CAD 1.923 billion, an increase of 12% year-over-year. Earnings per share for the quarter stood at CAD 1.2.
New business value for the second quarter totaled CAD 929 million, up 10% year-over-year, while APE sales reached CAD 2.698 billion, a 21% increase year-over-year. The company declared a quarterly dividend of CAD 0.485 per share.
CEO Highlights Growth Initiatives and AI Integration
Manulife President and Chief Executive Officer Phil Witherington stated that the company delivered strong performance in the second quarter, with core earnings per share increasing 16% year-over-year. All three insurance business segments recorded double-digit revenue growth, demonstrating the strength of the diversified business portfolio.
Witherington noted that Manulife continues to strengthen distribution capabilities and advance product innovation. Initiatives include launching new insurance solutions for high-net-worth clients, expanding the global wealth and asset management business with exchange-traded fund (ETF)-based investment solutions, and establishing a new financial advisor network in the United States. The company is also accelerating the integration of artificial intelligence across operations to enhance customer and distributor partner experiences, improve operational efficiency, and create tangible value.
CFO Details Capital Returns and Core ROE Performance
Chief Financial Officer Colin Simpson stated that the company maintains a disciplined approach to capital deployment, supported by robust asset strength and low financial leverage. Manulife returned CAD 2.6 billion to shareholders in the first half of 2026 through dividends and share buybacks.
Core return on equity (ROE) reached 16.3%, an increase of 130 basis points compared to the second quarter of 2025, reflecting the strength of the company's high-growth businesses.
FAQ
What were Manulife's core earnings for the first half ending June 30?
Manulife reported core earnings of CAD 3.759 billion for the first half ending June 30, representing a 10% increase year-over-year.
How much did Manulife return to shareholders in the first half of 2026?
Manulife returned CAD 2.6 billion to shareholders in the first half of 2026 through dividends and share buybacks, as stated by Chief Financial Officer Colin Simpson.
What dividend did Manulife declare for the quarter ending June 30?
Manulife declared a quarterly dividend of CAD 0.485 per share for the quarter ending June 30.
