Manulife Financial (0945) said its core earnings for 2024 increased by 8 percent to C$7.2 billion (HK$39.37 billion), hitting a new high, thanks to strong global wealth and asset management business and sales in Asia.

The insurer said the strong performance of its businesses offset the impacts of global minimum taxes and reinsurance transactions that were closed earlier in 2024.

For the fourth quarter, the company recorded core earnings of C$1.91 billion, up by 6 percent from one year prior.

Manulife raised its quarterly dividend per common share by 10 percent to C$0.44.