As the biggest insurance company in Canada, with a market capitalization of $43.37 billion, everyone’s gunning for Manulife Financial. Even, it seems, Mother Nature.
“We delivered resilient operating results in the third quarter amidst a challenging market and operating environment,” Manulife President and CEO Roy Gori said in announcing the results. “Sales were lower than expected with particularly weak results in Hong Kong. Management cited negative GDP growth and equity market volatility as primary reasons,” Holden wrote.
CIBC’s Paul Holden called Sun Life’s earnings statement “a strong quarter despite a tough macro backdrop.”
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