Canadian insurers Manulife, Sun Life beat earnings forecasts

Manulife Financial Corp is Canada's biggest insurer. — File pic
Manulife Financial Corp is Canada's biggest insurer. — File pic

TORONTO, Nov 9 — Two of Canada’s biggest insurance companies yesterday reported second-quarter earnings that beat market expectations, benefiting in part from strong growth in Asia.

Canada’s biggest insurer Manulife Financial Corp yesterday said earnings per share, excluding one-off items, were C$0.53 (RM1.76() in the third quarter to Sept 30, compared with C$0.49 in the same period the year before.

Analysts had, on average, forecast earnings per share, excluding one-off items, of C$0.52, according to Thomson Reuters I/B/E/S data.

Sun Life Financial reported earnings per share, excluding one-off items, of C$1.05 in the third quarter to Sept 30, compared with C$1.04 in the same period the year before.

Analysts had, on average, forecast earnings, excluding one-off items, of C$1.01 Canadian cents per share, according to Thomson Reuters I/B/E/S data. — Reuters

Related Articles