Description

Manulife Financial’s 37% Hong Kong Surge — Can Asia Drive The Next Earnings Phase?

Manulife Financial Corporation reported second quarter 2026 results reflecting a continuation of its strategic execution and diversified business model. The company achieved a 21% year-over-year increase in annualized premium equivalent (APE) sales across all insurance segments, fueled by strong performances in Asia—including Hong Kong, Singapore, and Japan—and Canada. Notably, Hong Kong’s sales growth stood at 37%, supported by the strength of its domestic franchise, which comprises approximately 75% of sales year-to-date. The firm’s new business contractual service margin (CSM) grew 16% year-over-year, contributing to a 20% increase in the total CSM balance, positioning earnings for potential growth ahead. Core earnings rose by 12% year-over-year with core earnings per share up 16%, benefiting from steady share repurchases. Asia segment core earnings increased 21% to a record level, while Global Wealth and Asset Management (WAM) core earnings grew 9%, supported by a return to net inflows driven by institutional business strength.