November 7, 2013 / 11:30 AM / in 4 years

Manulife Financial reports third-quarter profit

TORONTO, Nov 7 (Reuters) - Manulife Financial Corp, Canada’s largest life insurer, on Thursday reported a third-quarter profit, driven by strong wealth and mutual fund sales and a smaller actuarial loss.

The Toronto-based company said net income attributed to shareholders was C$1.03 billion ($989.01 million), or 54 Canadian cents a share.

That compared with a year-earlier loss of C$211 million, or a 13 Canadian cents a share, that included a C$1 billion charge resulting from the company’s annual review of actuarial assumptions on certain insurance products.

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