Manulife Financial Corp

MFC: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Manulife Earnings: Headwinds From Canada and Investment Management Businesses; Shares Expensive

Maoyuan Chen

May 14, 2026

Manulife reported slightly disappointing results for the first quarter, with headwinds in its domestic group insurance and Asia retirement businesses. The firm’s first-quarter results translated into an adjusted return on equity of 16.5%, below its medium-term of 18%-plus.

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Manulife Financial Corp

Manulife Earnings: Headwinds From Canada and Investment Management Businesses; Shares Expensive

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