Manulife loss narrows on strong investment portfolio

Thu Nov 8, 2012 6:12am EST
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Nov 8 (Reuters) - Manulife Financial Corp's quarterly loss narrowed as a stronger performance in its investment portfolio offset a C$1 billion charge related to a shift in actuarial assumptions.

Canada's largest life insurer reported a net loss of C$227 million ($228 million), or 14 Canadian cents per share, in the three months ended Sept. 30, compared with a loss of C$1.28 billion, or 73 Canadian cents per share, a year earlier.

Analysts had expected a net loss of 31 Canadian cents per share. Excluding items, the market had expected a profit of 32 Canadian cents per share, according to Thomson Reuters I/B/E/S.