Manulife's Profits Surge on Strong Asian Growth and AI Integration

The Canadian insurer reports a significant profit increase, driven by robust performance in Asia and advancements in artificial intelligence tools.

Manulife Financial Corp. reported a third-quarter profit of C$1.83-billion, marking a 4% increase from the previous year.
The company's Asia operations were a major contributor, with net income rising nearly tenfold to $606-million.
Manulife's annual premium equivalent (APE) saw a 40% jump, largely due to a 64% increase in its Asia unit.
The insurer is expanding its use of AI tools, with successful pilot projects in Singapore and North America improving efficiency and sales.
Manulife's wealth and asset management business also performed well, with core earnings increasing by 37% to a record C$499-million.