CORRECTED-RPT-UPDATE 2-Manulife delays C$4 bln profit target
(In 5th paragraph, corrects Q3 2011 markets loss)
* Net loss EPS C$0.14 vs est C$0.31
* Stronger markets drive improvement
* Company takes C$1 bln charge, pushes back profit target
By Cameron French
Nov 8 (Reuters) - Manulife Financial Corp has pushed out its profit goal of C$4 billion by a year to 2016, citing macro-economic conditions, although its quarterly loss narrowed due to stronger financial markets-related results during the quarter.
The improved markets performance helped to offset a C$1 billion charge related to a shift in actuarial assumptions, Canada's largest life insurer said on Thursday.
Manulife's net loss of C$227 million ($228 million), or 14 Canadian cents per share, in the three months ended Sept. 30, compared with a year-earlier loss of C$1.28 billion, or 73 Canadian cents per share.
The result topped analysts' estimates for a net loss of 31 Canadian cents per share. Continued...