BENGALURU - Canada’s largest insurer, Manulife Financial, on Wednesday reported better-than-expected quarterly profit powered by strong insurance sales in Asia, its biggest market, as Hong Kong borders reopened after the Covid-19 pandemic.
Manulife said annual premium equivalent sales in Asia, a gauge of insurance sales in annualised metrics, rose 26 per cent in the second quarter ended June 30, as business recovered across the region, mainly in Hong Kong on demand from customers in mainland China after borders reopened earlier in 2023.
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