Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; And Corporate and Other segments. The Wealth and Asset Management Businesses segment provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks. The Insurance and Annuity Products segment offers deposit and credit products; individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing. The Corporate and Other segment is involved in property and casualty insurance and reinsurance businesses; and run-off reinsurance operations, including variable annuities, and accident and health. It also manages timberland and agricultural portfolios; and engages in insurance agency, portfolio and mutual fund management, mutual fund dealer, life, annuity, long-term care, and financial reinsurance; and fund management businesses. Additionally, the company holds and manages provides investment management, counseling, advisory, and dealer services. Manulife Financial Corporation was incorporated in 1887 and is headquartered in Toronto, Canada.

Manulife Financial Corporation

Cash and Short-Term Securities

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Debt Securities

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Public Equities

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Mortgages

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Private Placements

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Policy Loans

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Real Estate

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Reinsurance Assets

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Insurance Contract Assets

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Miscellaneous

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Insurance Contract Liabilities, Excluding Those for Account of Segregated Fund Holders

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Reinsurance Contract Held Liabilities

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Other Liabilities

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Total Liabilities Excluding Long-Term Debt, Capital Instruments and Segregated Funds Net Liabilities

Assets	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Debt Securities	324,504	312,862	317,636	314,736	310,346	296,886
Debt Securities
Mortgages
Private Placements
Equity and Preferred Securities	39,279	34,668	33,999	33,725	30,850	27,972
Public Equities
Other Investments	69,352	67,163	68,740	68,247	65,072	63,663
Policy Loans
Loans to Bank Clients
Real Estate
Other Invested Assets
Total Investments	458,967	438,466	445,737	442,497	429,152	410,619
Total Invested Assets
Cash and Cash Equivalents	25,832	23,773	25,362	25,789	22,884	22,098
Cash and Short-Term Securities
Reinsurance Contract Assets	62,896	61,418	65,197	59,117	59,395	57,937
Reinsurance Assets
Insurance Contract Assets
Reinsurance Contract Held Assets
Other Receivables	3,304	2,901	3,242	2,969	2,905	2,651
Accrued Investment Income
Outstanding Premiums
Other Assets	501,515	474,684	467,242	474,235	461,178	444,066
Derivatives
Deferred Tax Assets
Goodwill and Intangible Assets
Miscellaneous
Segregated Funds Net Assets
Total Assets	1,026,682	977,469	981,418	978,818	952,630	915,273
Total Assets

Liabilities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Claims Reserves	429,070	411,558	420,591	409,899	404,209	383,759
Insurance Contract Liabilities, Excluding Those for Account of Segregated Fund Holders
Insurance Contract Liabilities
Investment Contract Liabilities
Reinsurance Contract Liabilities	3,153	2,942	2,796	2,669	2,763	2,492
Reinsurance Contract Held Liabilities
Accounts Payable	23,181	22,416	22,952	22,063	22,345	21,745
Deposits from Bank Clients
Total Debt	6,417	6,292	6,635	6,629	6,225	6,304
Long-Term Debt
Other Liabilities	511,870	483,008	475,280	484,598	465,449	450,217
Derivatives
Deferred Tax Liabilities
Other Liabilities
Capital Instruments
Insurance and Investment Contract Liabilities for Account of Segregated Fund Holders
Total Liabilities	973,691	926,216	928,254	925,858	900,991	864,517
Total Liabilities

Equity	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Preferred Stock	6,660	6,660	6,660	6,660	6,660	6,660
Preferred Shares and Other Equity
Common Stock	20,238	20,398	20,572	20,681	21,015	21,314
Common Shares
Additional Paid-in Capital	200	201	202	204	208	210
Contributed Surplus
Accumulated Other Comprehensive Income	18,529	17,283	19,624	18,663	16,717	16,207
Insurance Finance Income (Expenses)
Reinsurance Finance Income
Fair Value Through Other Comprehensive Income Investments
Translation of Foreign Operations
Pension and Other Post-Employment Plans
Available-for-Sale Securities
Real Estate Revaluation Surplus
Cost of Hedging
Cash Flow Hedges
Other
Retained Earnings	5,089	4,538	4,077	4,764	4,973	4,574
Shareholders and Other Equity Holders' Retained Earnings
Total Common Shareholders' Equity	50,716	49,080	51,135	50,972	49,573	48,965
Total Shareholders and Other Equity Holders' Equity
Minority Interests and Other	2,275	2,173	2,029	1,988	2,066	1,791
Participating Policyholders' Equity
Non-Controlling Interests
Total Shareholders' Equity	52,991	51,253	53,164	52,960	51,639	50,756
Total Equity
Total Liabilities and Shareholders' Equity	1,026,682	977,469	981,418	978,818	952,630	915,273
Total Liabilities and Equity