Manulife net drops, Asia new business value skids by 14pc to US$356mInsurer Manulife said today net income fell by US$900 million to US$1.29 billion in the first quarter ended March 31. Asia new business value was US$356 million down from US$411 million in the year before quarter. In Asia, new business value fell by 14 percent to US$356 million as growth in Hong Kong and Asia was more than offset by a decline in Japan. In Canada, new business value of US$77 million was up by 24 percent from the year before quarter, driven by higher sales across all business lines. Total new business value was US$469 million, down by 11 percent from US$519 million.-The Standard

Source: The Standard May 07, 2020 02:37 UTC