Manulife Asia earnings jump 22% to $598m on sales growth

It saw growth across its annualised premium equivalent sales.

Manulife Financial Corporation reported that its Asia segment delivered core earnings of US$598m, up 22% year over year (YoY), according to a press release.

The company said it was due to growth across annualised premium equivalent sales, up 11% YoY to (US$1.5b).

It was also driven by increased new business contractual service margin and new business value, which grew by 15% YoY to US$533m.

During the period, Manulife established an exclusive partnership with Guardant Health to offer the Shield™ Multi‑Cancer Detection test to its Asian market.

“The collaboration makes us the first insurer in Asia to offer the Shield MCD test, broadening access to early cancer detection,” the group said.

Additionally, the company launched its distributor artificial intelligence tool in Vietnam to support faster access to product information, premium calculations and simplified illustrations for customers.