Manulife Financial Corporation has reported net income of $4.3 billion for 2007, an increase of 8% over the full year 2006.
Manulife Financial’s fourth quarter 2007 shareholders’ earnings were $1.14 billion, an increase of 4% from the same period in 2006. The company has reported that its fourth quarter sales were strong, with insurance sales of $642 million, up 15% over the sales reported for the same period in 2006, and wealth management sales of $11.5 billion, up 24% over corresponding period of 2006.
Manulife Financial’s premiums and deposits amounted to $69.4 billion for 2007. The company’s fourth quarter premiums and deposits rose to $17.4 billion, an increase of 10% over the same period of 2006.
Peter Rubenovitch, senior executive vice president and CFO of Manulife Financial, said: Despite weak equity markets and unfavorable interest rate movements, we benefited from having a diversified investment portfolio, leaving overall investment experience favorable for the quarter. Strong sales and good expense management also contributed to the quarter’ s growth in earnings and ROE.