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

Insurance Revenue

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Insurance Service Expenses

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Net Expenses from Reinsurance Contracts Held

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Investment Income

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Realized and Unrealized Gains on Assets Supporting Insurance and Investment Contract Liabilities and on the Macro Hedge Program

Realized and Unrealized Gains on Assets Supporting Insurance and Investment Contract Liabilities and on the Macro Hedge Program %Chg

Realized and Unrealized Gains on Assets Supporting Insurance and Investment Contract Liabilities and on the Macro Hedge Program Common Size

Realized and Unrealized Gains on Assets Supporting Insurance and Investment Contract Liabilities

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Investment Expenses

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Net Investment Income

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Other Revenue 

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Total Revenue

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Gross Claims and Benefits

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Change in Insurance Contract Liabilities

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Change in Investment Contract Liabilities

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Benefits and Expenses Ceded to Reinsurers

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Change in Reinsurance Assets

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Net Benefits and Claims

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General Expenses

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Commissions

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Interest Expense

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Premium Taxes

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Total Contract Benefits and Expenses

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Income Before Income Taxes

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Insurance Finance Income and Effect of Movement in Foreign Exchange Rates

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Reinsurance Finance Income and Effect of Movement in Foreign Exchange Rates

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Decrease in Investment Contract Liabilities

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Investment Result Excluding Segregated Funds

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Gross Premiums

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Premiums Ceded to Reinsurers

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Premiums Ceded, Net of Commission and Additional Consideration Relating to Closed Block Reinsurance Transaction

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Net Premium Income

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Investment Income Related to Segregated Funds Net Assets

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Financial Changes Related to Insurance and Investment Contract Liabilities for Account of Segregated Fund Holders

Net Premiums Earned

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Net Gains on Investments

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Total Other Revenues

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Other Revenue

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Total Revenues

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Insurance Benefits & Claims

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Policy Amortization Costs

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Commissions Related to Non-Insurance Contracts

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Investment Expense

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Other Operating Expenses

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Operating Profit

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Interest Expenses

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Operating Margin

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Non-Operating Income

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Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

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Gross Profit

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Net Revenue

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Average Assets

Adjusted EBIT

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Adjusted EBT

Adjusted Funds From Operations

Income Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Premiums Earned	28,308	27,632	27,157	26,592	26,172	25,641
Net Premium Income
Insurance Revenue
Investment Income	18,906	18,711	18,232	18,249	17,496	17,037
Investment Income
Net Gains on Investments	4,547	2,493	680	2,210	5,506	1,346
Realized and Unrealized Gains on Assets Supporting Insurance and Investment Contract Liabilities and on the Macro Hedge Program
Realized and Unrealized Gains on Assets Supporting Insurance and Investment Contract Liabilities
Total Other Revenues	7,985	7,768	7,766	7,588	7,304	7,021
Other Revenue
Other Revenue
Total Revenues	59,746	56,604	53,835	54,639	56,478	51,045
Total Revenues %Chg	5.8%	10.9%	7.2%	9.2%	27.3%	14.1%
Total Revenue
Insurance Benefits & Claims	24,349	23,597	23,091	22,591	21,624	21,385
Insurance Service Expenses
Net Expenses from Reinsurance Contracts Held
Net Benefits and Claims
Policy Amortization Costs	1,525	1,509	1,509	1,480	1,425	1,391
Commissions
Commissions Related to Non-Insurance Contracts
Investment Expense	1,320	1,356	1,348	1,348	1,301	1,329
Investment Expenses
Investment Expenses
Other Operating Expenses	4,902	4,874	4,959	4,859	4,711	4,549
General Expenses
General Expenses
Premium Taxes
Operating Profit	27,650	25,268	22,928	24,361	27,417	22,391
Interest Expense	-1,545	-1,568	-1,636	-1,681	-1,651	-1,656
Interest Expense
Interest Expenses
Operating Margin	46.3%	44.6%	42.6%	44.6%	48.5%	43.9%
Non-Operating Income	-18,803	-16,286	-14,755	-15,590	-18,666	-14,802
Insurance Finance Income and Effect of Movement in Foreign Exchange Rates
Reinsurance Finance Income and Effect of Movement in Foreign Exchange Rates
Decrease in Investment Contract Liabilities
Total Non-Operating Income	-20,348	-17,854	-16,391	-17,271	-20,317	-16,458
Income Before Provision for Income Taxes	7,302	7,414	6,537	7,090	7,100	5,933
Income Before Income Taxes
Net Income Before Income Taxes
Provision for Income Taxes	1,130	1,094	1,008	1,212	1,128	803
Income Tax Expense
Income Tax Expenses
Consolidated Net Income	6,172	6,320	5,529	5,878	5,972	5,130
Net Income
Net Income Attributable to Minority Interests and Other	461	569	525	493	566	550
Non-Controlling Interests
Participating Policyholders
Net Income Attributable to Preferred Dividends	319	317	313	311	309	307
Preferred Share Dividends and Other Equity Distributions
Net Income Attributable to Common Shareholders	5,392	5,434	4,691	5,074	5,097	4,273
Common Shareholders' Net Income
Basic EPS	3.2	3.1	2.7	2.9	2.9	2.4
Diluted EPS	3.1	3.1	2.7	2.8	2.8	2.4
Basic Weighted Average Shares Outstanding	1,718.3	1,737.8	1,758.5	1,779	1,795.5	1,808.5
Diluted Weighted Average Shares Outstanding	1,724	1,743.8	1,764.8	1,785	1,801	1,813.3
Total Shares Outstanding	1,690	1,703	1,718	1,729	1,759	1,785
EBITDA	27,650	25,268	22,928	24,361	27,417	22,391
Effective Tax Rate	15.5%	14.8%	15.4%	17.1%	15.9%	13.5%