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Manulife CFO discusses ‘blowout’ Q3 earnings as stock hits all-time high

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Shares of Manulife Financial Corp. hit an all-time high in midday trading on Thursday after the company reported third quarter earnings Wednesday that beat expectations.

Manulife’s Chief Financial Officer, Colin Simpson joins BNN Bloomberg to discuss the company's latest earnings and his outlook for their Asia business.

Simpson said that growth in Manulife’s Asia business also contributed to the strong results, where core earnings rose 17 per cent in the quarter compared to last year.reported quarterly earnings of $1.84 billion, up from $1.01 billion last yearSimpson added that the company also performed well in Canada during the quarter, thanks to its diversification efforts in recent years.

“So, we’re really pleased with the progress that we’ve made… and particularly pleased with this quarter’s results.” “We continue to invest in the most strategic opportunities to scale the business and deliver additional capabilities to our clients,” the statement said.Simpson pinpointed 2017 as a turning point for Manulife, when he said it made a strategic shift “towards a lower risk, higher return business” that some people say is now “unrecognizable” compared to previous iterations of the company.

 

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