Manulife Financial Corporation


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Manulife Financial Corporation: Enhanced Asian Market Engagement and Growth Strategy 


Manulife Financial Corporation has posted a strong first quarter of 2024, exemplifying solid strategic execution and financial performance across its diversified operations. The company reported a 16% growth in core earnings and a significant 20% increase in core EPS, supported by robust contributions from its Asian markets and Global Wealth and Asset Management (WAM) segments. Furthermore, core return on equity (ROE) advanced by nearly two percentage points year-over-year to 16.7%, surpassing the medium-term target of 15%. A key highlight of the quarter was the closure of the Milestone reinsurance transaction with Global Atlantic, which included the largest-ever block of long-term care insurance. This transaction slightly impacted earnings but is viewed positively as it furthers the company’s strategy to optimize its capital and improve return metrics. Moreover, Manulife announced a substantial Universal Life reinsurance deal in Canada, expected to release $800 million of capital for further shareholder returns through an enhanced share buyback program. These strategic moves underline Manulife’s commitment to capital efficiency and shareholder value enhancement.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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