February 12, 2020 / 10:14 PM / 4 months ago

Insurer Manulife profit misses estimates on decline in Japan sales

TORONTO, Feb 12 (Reuters) - Manulife Financial Corp , Canada’s biggest insurer, reported core quarterly earnings that missed analyst estimates on Wednesday, as declining sales in Japan offset growth elsewhere.

The Toronto-based company posted earnings excluding one-off items of C$1.5 billion ($1.13 billion), or 73 Canadian cents a share, in the fourth quarter, compared with analyst expectations of 75 cents, and 65 cents a year ago.

Manulife reported net income attributable to shareholders of C$1.2 billion, missing estimates of C$1.5 billion. ($1 = 1.3251 Canadian dollars) (Reporting By Nichola Saminather; Editing by Sandra Maler)

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