MANULIFE FINANCIAL (MFC) Company Report

Analyst Coverage

Research analysts who have asked questions during MANULIFE FINANCIAL earnings calls.

Doug Young

Desjardins Capital Markets

8 questions for MFC

Also covers: , BMO, BNS +7 more

Gabriel Dechaine

National Bank Financial

8 questions for MFC

Also covers: , BMO, BNS +6 more

Mario Mendonca

TD Securities

8 questions for MFC

Also covers: BMO, BNS, CM +5 more

Paul Holden

CIBC World Markets

8 questions for MFC

Also covers: BMO, BNS, GRWTF +5 more

Tom MacKinnon

BMO Capital Markets

8 questions for MFC

Also covers: CIXXF, FRFHF, GRWTF +3 more

John Aiken

Jefferies Securities

7 questions for MFC

Also covers: BMO, BNS, CM +3 more

Darko Mihelic

RBC Capital Markets

4 questions for MFC

Also covers: , BMO, BNS +4 more

Lemar Persaud

Cormark Securities

4 questions for MFC

Also covers: BMO, BNS, CM +3 more

Alex Scott

Barclays PLC

3 questions for MFC

Also covers: ACGL, AFL, AIG +30 more

Meny Grauman

Scotiabank

3 questions for MFC

Also covers: , BMO, CM +4 more

George Burmann

JP Turner and Company

2 questions for MFC

Also covers: MIL

Gregg Abella

Investment Partners Asset Management

2 questions for MFC

Also covers: MIL

Joe Pratt

Stifel

2 questions for MFC

Also covers: MIL

Mike Ward

UBS

2 questions for MFC

Also covers: GM, PAG, PRU +4 more

David Erb

Merrion Investment Management

1 question for MFC

Also covers: FRFHF, MIL

Graham Tanaka

Tanaka Capital Management

1 question for MFC

Also covers: ELVA, MIL, NXE

Nigel D'Souza

Veritas Investment Research

1 question for MFC

Also covers: BNS, CM, GRWTF +2 more

Rich Rogers

Abbey Capital

1 question for MFC

Thomas Gallagher

Evercore

1 question for MFC

Also covers: AFL, AMP, BHF +13 more

Tony Pollock

Aegis Capital

1 question for MFC

William Meyers

Miller Asset Management

1 question for MFC

Latest news

Recent press releases and 8-K filings for MFC.

Manulife Singapore Issues Record US$300M Life Policy

MFC

New Projects/Investments

Product Launch

Revenue Acceleration/Inflection

Manulife Singapore issued a US$300 million life insurance policy, certified as the most valuable ever, signaling strong demand from ultra-high-net-worth clients.
In the past 12 months, the firm has issued 25 individual policies of more than US$50 million, and Manulife expects double-digit growth in this high-net-worth insurance segment.
Manulife has broadened its high-net-worth product suite, introducing Signature high-net-worth offerings like Signature Indexed Income, Signature Indexed Universal Life Select (III), and Signature Legacy Harvest.

5 days ago

Bloomberg

Manulife Announces Normal Course Issuer Bid

MFC

Share Buyback

Manulife Financial Corporation has received approval from the Toronto Stock Exchange for a Normal Course Issuer Bid (NCIB).
The NCIB permits the purchase for cancellation of up to 42 million common shares, representing approximately 2.5% of Manulife’s issued and outstanding common shares as of February 10, 2026.
Purchases under the NCIB are scheduled to commence on February 24, 2026, and will continue until February 23, 2027, or an earlier date if purchases are completed.
This initiative is part of Manulife's capital management strategy, designed to maintain healthy regulatory capital ratios while balancing the objective of generating shareholder value.

Feb 20, 2026, 12:21 AM

6-K

Manulife announces Normal Course Issuer Bid

MFC

Share Buyback

Manulife Financial Corporation has received approval for a Normal Course Issuer Bid (NCIB) to purchase for cancellation up to 42 million of its common shares, representing approximately 2.5% of its issued and outstanding common shares as of February 10, 2026.
Purchases under the NCIB may commence on February 24, 2026, and continue until February 23, 2027, or until purchases are completed.
The company may purchase up to 1,483,481 common shares on the TSX during any trading day, which is 25% of the average daily trading volume for the six months ended January 31, 2026.
The NCIB is part of Manulife's capital management strategy, designed to maintain healthy regulatory capital ratios while balancing the objective of generating shareholder value.

Feb 19, 2026, 9:05 PM

Press Release

Manulife Financial Reports Record Full Year 2025 Core Earnings and Increased Shareholder Returns

MFC

Earnings

Dividends

Share Buyback

Manulife Financial reported record core earnings and 8% core EPS growth for the full year 2025, with core ROE expanding 30 basis points from the prior year.
The company generated $6.4 billion in remittances for 2025, exceeding its $6 billion expectation, and returned nearly $5.5 billion of capital to shareholders.
Manulife announced a 10% increase in its quarterly common share dividend and received OSFI approval for a new NCIB program to repurchase up to 42 million shares, or approximately 2.5% of issued and outstanding common shares, with buybacks planned to commence in late February 2026.
In Q4 2025, Asia core earnings increased 24% and Global WAM core earnings grew 7% year-over-year, while U.S. core earnings decreased 22% primarily due to lower investment spreads and unfavorable life insurance claims experience.
The company maintained a strong balance sheet at year-end 2025, with a LICAT ratio of 136% and a financial leverage ratio of 23.9%.

Feb 12, 2026, 1:00 PM

Transcript

Manulife Financial Reports Strong 2025 Results and Strategic Progress

MFC

Earnings

Dividends

Share Buyback

Manulife Financial reported a defining year in 2025, achieving record core earnings and 8% core EPS growth, with core ROE expanding 30 basis points and tracking well towards its 2027 target of 18%+. The company maintains a strong balance sheet with a LICAT ratio of 136% and a leverage ratio of 23.9%.
The company announced a 10% increase in its quarterly common share dividend and received approval for a new NCIB program to repurchase up to 42 million shares (approximately 2.5% of outstanding common shares), reflecting a commitment to shareholder value.
Strategic initiatives in 2025 included the acquisition of Comvest Credit Partners, a joint venture in India, and an agreement to acquire Schroders Indonesia, alongside significant investments in becoming an AI-powered organization.
In Q4 2025, Asia's core earnings increased 24% year-over-year, and Global WAM's core EBITDA margin expanded 60 basis points to 29.2%, despite $9.5 billion in net outflows. The U.S. segment saw a 9% increase in APE sales and 34% growth in new business CSM, though core earnings decreased 22% due to lower investment spreads and unfavorable life insurance claims experience, which is expected to normalize.

Feb 12, 2026, 1:00 PM

Transcript

Manulife Financial reports record 2025 core earnings and increases dividend

MFC

Earnings

Dividends

Share Buyback

Manulife Financial reported record core earnings for 2025, achieving 8% core EPS growth and expanding its core ROE by 30 basis points from the prior year, tracking towards its 2027 target of 18%+.
The company announced a 10% increase in its quarterly common share dividend and received approval for a new NCIB program to repurchase up to 42 million shares, or approximately 2.5% of issued and outstanding common shares.
Manulife generated $6.4 billion of remittances in 2025 and maintained a strong balance sheet with a LICAT ratio of 136% and a leverage ratio of 23.9%.
Strategic investments in 2025 included the acquisition of Comvest Credit Partners, a joint venture in the India life insurance market, and an agreement to acquire Schroders Indonesia.

Feb 12, 2026, 1:00 PM

Transcript

Manulife Announces Intention to Launch New Normal Course Issuer Bid

MFC

Share Buyback

Manulife Financial Corporation announced its intention to launch a Normal Course Issuer Bid (NCIB), subject to Toronto Stock Exchange (TSX) approval, to purchase for cancellation up to 42 million of its common shares.
This represents approximately 2.5% of Manulife's 1,676,743,043 common shares issued and outstanding as of January 31, 2026.
The Office of the Superintendent of Financial Institutions (Canada) has approved the NCIB, which is part of Manulife's capital management strategy.
Under its previous 2025 NCIB, which expires on February 23, 2026, Manulife completed the purchase of 51.5 million common shares for cancellation by January 22, 2026, at a volume weighted average purchase price of $44.28 per common share.

Feb 12, 2026, 1:38 AM

6-K

Manulife Financial Corporation Receives Unqualified Audit Opinion for 2025 Financial Statements

MFC

The independent auditor has issued an opinion stating that Manulife Financial Corporation's consolidated financial statements for the years ended December 31, 2025 and 2024 present fairly, in all material respects, its financial position, performance, and cash flows in accordance with International Financial Reporting Standards (IFRS).
Key audit matters highlighted include the valuation of insurance contract liabilities, which totaled $541 billion at December 31, 2025, and the valuation of invested assets with significant non-observable market inputs, amounting to $95.3 billion at the same date.
The audit also focused on IFRS 9 hedge accounting, noting that for the year ended December 31, 2025, the company recognized changes in value of hedged assets of $338 million and hedged liabilities of $1,180 million.

Feb 11, 2026, 10:17 PM

6-K

Manulife Reports Record 2025 Core Earnings and Increases Dividend

MFC

Earnings

Dividends

Share Buyback

Manulife Financial Corporation reported record core earnings of $7.5 billion for the full year 2025, an increase of 3% from 2024, and $2.0 billion in Q4 2025, up 5% from Q4 2024. Core EPS for 2025 was $4.21, up 8%, and $1.12 for Q4 2025, up 9%.
The company announced a 10.2% increase in its quarterly common shareholders’ dividend, resulting in a dividend of $0.485 per share, payable on and after March 19, 2026.
Manulife returned $5.4 billion to shareholders in 2025, including the purchase and cancellation of 3.1% of common shares outstanding (54.4 million shares) for $2.4 billion. A new Normal Course Issuer Bid (NCIB) program is expected to commence in late February 2026, permitting the repurchase of up to approximately 2.5% of outstanding common shares.
Full year 2025 insurance new business results showed APE sales up 14%, new business CSM up 28%, and new business value (NBV) up 18% from 2024.
Strategic investments in 2025 included establishing a life insurance joint venture in India with Mahindra, opening an office in the Dubai International Financial Centre, acquiring 75% of Comvest Credit Partners, and agreeing to acquire Schroders Indonesia.

Feb 11, 2026, 10:16 PM

6-K

Manulife Reports Record Full Year 2025 Results and Announces Dividend Increase

MFC

Earnings

Dividends

Share Buyback

Manulife Financial Corporation reported record core earnings of $7.5 billion for the full year 2025, an increase of 3% from 2024 on a constant exchange rate basis, with Core EPS reaching $4.21, up 8% from 2024.
The company declared a 10.2% increase in its quarterly common share dividend and announced a new Normal Course Issuer Bid (NCIB) program to repurchase up to approximately 2.5% of outstanding common shares, expected to commence in late February 2026.
Full year 2025 insurance new business results showed significant growth, with APE sales up 14%, new business CSM up 28%, and new business value (NBV) up 18% from 2024.
Manulife expanded its diversified business portfolio through strategic initiatives, including the acquisition of 75% of Comvest Credit Partners, establishing a life insurance joint venture in India with Mahindra, and an agreement to acquire Schroders Indonesia.