Manulife Reports Record Q1 2025 Results
Manulife reported its first quarter results for the period ending March 31, 2025, achieving record insurance new business results and steady growth in book value per common share. The company’s president and CEO, Roy Gori, stated, “We started the year with continued strong momentum, delivering record levels of insurance new business results this quarter.”
The insurer generated double-digit growth in new business value across all insurance segments, led by Asia with a 43% increase year-over-year. This performance demonstrated broad-based strength in Manulife’s top-line results. Core earnings decreased modestly on a constant exchange rate basis due to strengthened provisions related to expected credit loss (ECL) of $45 million post-tax and a provision for California wildfires of $43 million post-tax.
Asia core earnings were up 7%, reflecting continued business growth, improved impact of new business, and favorable claims experience. The region delivered another strong quarter with record levels of APE sales, new business CSM, and NBV, showing year-over-year growth of 50%, 38%, and 43%, respectively. This growth was driven by higher sales volumes in Hong Kong, Japan, and the rest of Asia. Manulife’s new business value margin of 38.1% demonstrated resilience in the face of market conditions.
To enhance sales support and improve customer experience, Manulife further strengthened its GenAI capabilities in Asia. The company rolled out an AI Assistant solution to support agents in Singapore and help teams better serve brokers in Japan. This solution enables faster access to product information, reduces administrative workload, and allows distributors to focus more on customer engagement.
The strong performance in Asia and the integration of technology to enhance customer experience position Manulife for continued growth in the region.
