May 8, 2008 / 2:33 PM / 10 years ago

Manulife Financial profit down 11.9 pct on stocks

TORONTO, May 8 (Reuters) - First-quarter profit fell 11.9 percent at Manulife Financial Corp (MFC.TO) due to declines in global stock markets, the insurance company said on Thursday.

    Manulife, North America’s second-largest life insurer, earned C$869 million ($860 million), or 57 Canadian cents a share, in the three months ended March 31.

    That compared with profit of C$986 million, or 63 Canadian cents a share, in the same 2007 period.

    $1=$1.01 Canadian Reporting by Cameron French; Editing by Peter Galloway

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