Staff reporter

Manulife Financial (0945) said its core earnings for 2024 increased by 8 percent to C$7.2 billion (HK$39.39 billion), hitting a new high, thanks to strong global wealth and asset management business and sales in Asia.

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

It posted a net profit of around C$5.39 billion in 2024, rising 5 percent from the previous year.