Manulife Unveils 2025 Q4 and Annual Financial Results
Manulife Financial Corporation recently announced its financial results for the fourth quarter and the entire year of 2025. The figures highlight strong growth in core earnings and significant developments for the company moving forward.
2025 Financial Overview
For the year ending December 31, 2025, Manulife reported core earnings of C$7.5 billion, marking a 3% increase from 2024 when adjusted for constant exchange rates. The fourth quarter also saw core earnings rise to C$2.0 billion, a 5% increase year-over-year.
Key Financial Metrics
- Net income attributed to shareholders: C$5.6 billion for 2025, increasing by C$0.2 billion compared to 2024. Fourth quarter net income was C$1.5 billion, down C$0.1 billion from the previous year.
- Core earnings per share: C$4.21 for the year, an 8% rise from 2024, and C$1.12 in the fourth quarter, rising by 9% year-over-year.
- Return on equity (ROE): 12.0% for 2025, with a core ROE of 16.5%.
- Annualized premium equivalent (APE) sales: Increased by 14% for the year.
- New business Charlie Sustainable Margin (CSM): Increased by 28% in 2025.
Strategic Developments
Manulife’s strategic initiatives in 2025 included targeted investments across various sectors. The company successfully entered the Indian life insurance market through a joint venture with Mahindra and established a high-net-worth office in Dubai.
- Acquisition Strategy: The company acquired a 75% stake in Comvest Credit Partners to enhance its private credit capabilities.
- Healthcare Collaboration: In Asia, a partnership with Bupa International was initiated to improve healthcare access and service integration.
Shareholder Value Enhancement
In an effort to reward shareholders, Manulife declared a 10.2% increase in its quarterly dividend per common share. Moreover, it has initiated a Normal Course Issuer Bid (NCIB), allowing the repurchase of up to 2.5% of its outstanding shares, set to begin in late February 2026.
Looking Ahead
Phil Witherington, President and CEO of Manulife, expressed confidence in the company’s trajectory despite ongoing macroeconomic challenges. The focus remains on disciplined execution and sustained growth.
Colin Simpson, Chief Financial Officer, emphasized the robust cash generation capabilities of the company, stating that Manulife returned C$5.4 billion to shareholders in 2025. This collaborative effort positions the company to leverage future growth opportunities as it adapts to changing market dynamics.
As Manulife approaches 2026, it continues to enhance its offerings and strategic footprint in key markets globally, focusing on delivering high-quality and sustainable growth.
