Manulife reports $1.1 billion in Q1 earnings, up from $485 million last year

Signage is seen on Manulife Financial Corp.'s office tower in Toronto. THE CANADIAN PRESS/Cole Burston

TORONTO — Manulife Financial Corp. reported $1.1 billion in net income attributable to shareholders during the first quarter, compared with $485 million during the same period last year.

That amounted to earnings per share of 65 cents during the period, up from 25 cents during the prior-year quarter.

The insurer says adjusted earnings, or what it calls core earnings, reached $1.8 billion during the first quarter, up year-over-year from $1.77 billion.

Core earnings for Manulife’s Asia segment came in at US$598 million during the period, compared with US$492 million last year.

Meanwhile, core earnings for its Canada segment came in at $352 million, compared with $374 million during last year’s first quarter.

Manulife CEO Phil Witherington says the company’s Asia segment achieved a strong quarter, with 22 per cent growth in core earnings and 15 per cent growth in new business value.

This report by The Canadian Press was first published May 13, 2026.