gawravWarren Buffett has said in the past that he is against using leverage to buy stocks. While that is good advice, what often gets ignored is that his insurance company, GEICO, a subsidiary of Berkshire Hathaway (BRK.A)(BRK.B), enabled him to get a head start over simply using only ‘owned’ cash to invest. That’s because insurance companies carry a float, which is basically the unpaid premiums on policies, and so long as thresholds are met, it can be invested to generate extra earnings for the company ...

It has been about a month since the last earnings report for Manulife Financial (MFC) . Shares have added about 11.4% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Manulife due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Manulife Q2 Earnings Beat Estimates, NBV ...

会议主要讨论的核心内容 1) 公司已经完成了彻底的转型 [4][5][6] - ROE从11%提升到16% - 长期护理和可变年金业务占比从24%下降到12% - 费用效率从55%改善到45% - 数字化转型和客户满意度提升 2) 公司独特地位可以充分把握全球经济发展的大趋势 [5][8][9] - 亚洲中产阶级快速增长 - 全球人口老龄化 - 客户数字化转型 3) 公司已经展现了良好的执行力 [6] - 连续几个季度实现了既定目标和同行业的超越 问答环节重要的提问和回答 1) 为什么选择在印尼举办投资者日 [8][9] - 印尼是一个巨大的机会市场,人口近3亿,中产阶级未来20年将增加三倍,保险渗透率不到1% 2) 如何实现18%以上的ROE目标 [11][12][13] - 亚洲业务ROE将从16%提升到21% - 资产管理业务ROE将从25%提升到28% - 通过规模效应、分销渠道拓展和成本效率提升等 3) 关于再保险交易的展望 [14][15][16][17][18][19] - 公司已完成13亿美元的长期护理再保险交易,消除了市场对这一业务的负面看法 - 公司正在积极寻求另一笔类似的再保险交易,但需要保持谨慎和创造价值的原则 4) 长期护理业务的有机改善措施 [20][21][22][23] - 提高价格、减少欺诈浪费、延长居家护理时间等,可带来巨大的潜在收益 5) ALDA投资收益低于预期的原因分析 [31][32][33] - 主要受高利率环境下房地产和私募股权投资表现疲软的影响 - 但长期来看ALDA仍是一个优质的资产类别 6) 关于LROC(终身资本回报率)指标的重要性 [37][38][39] - LROC反映了新业务的盈利能力,是评估公司未来发展潜力的关键指标 - 公司已大幅提升LROC,体现了业务质量的持续改善 7) 公司正在构建"行为保险"生态系统 [41][42][43] - 通过与Prenuvo、GRAIL等健康服务商合作,帮助客户预防和及早发现疾病 - 这不仅有利于客户健康,也能为公司带来长期收益

Shares of Manulife Financial Corporation (MFC) have rallied 19% year to date, outperforming the industry’s increase of 12.3%, the Finance sector’s increase of 12.1% and the S&P 500 composite’s rise of 17.6%.A strong performing Asia business, expanding Wealth and Asset Management business and a solid capital position drive this Zacks Rank #3 (Hold) insurer. The company is one of the three dominant life insurers within its domestic Canadian market and possesses rapidly growing operations in the United States ...

skynesher/E+ via Getty Images Please note all $ figures in $CAD, not $USD, unless otherwise noted. Introduction Shares of Manulife Financial Corporation (NYSE:MFC, TSX:MFC:CA) have been on a tear lately, up 23% year to date and 41% over the last year. With strong share price performance driven by increasing ROEs across the Canadian Lifeco space, I think shares are still attractively priced when we consider that the company's ROEs are sustainable. As such, I believe the company's valuation doesn't fully ...

Manulife Financial Corporation (MFC) delivered second-quarter 2024 core earnings of 66 cents per share, which beat the Zacks Consensus Estimate by 3.1%. The bottom line improved 6.4% year over year.Core earnings of $1.3 billion (C$1.7 billion) increased 8.3% year over year. The improvement was driven by continued business growth momentum and updates to actuarial methods and assumptions in the second half of 2023, higher fee income from favorable market impacts and positive net flows, a favorable tax true-up ...

财务数据和关键指标变化 - 公司第二季度APE销售同比增长17%,主要得益于加拿大和亚洲业务的强劲增长 [9][12] - 新业务价值同比增长23%,新业务CSM同比增长6% [12] - 核心每股收益同比增长9%,剔除全球最低税率影响后增长12% [13] - 核心权益回报率达15.7%,较上年同期提升20个基点 [13] - 调整后每股账面价值同比增长15%至33.96美元 [14] 各条业务线数据和关键指标变化 亚洲业务 - 亚洲业务核心利润同比增长40%,新业务价值同比增长19% [17] - 亚洲多数市场APE销售、新业务CSM和新业务价值均实现双位数增长 [17] - 香港和日本是亚洲业务的主要增长动力,但中国内地销售有所下降 [17] 全球财富管理业务 - 全球财富管理业务净流入10亿美元,主要来自机构业务,但退休业务有所流出 [12][18] - 全球财富管理业务核心利润同比增长23%,核心EBITDA利润率同比提升170个基点 [18][19] 加拿大业务 - 加拿大APE销售同比增长61%,主要得益于团体保险业务的强劲表现 [20] - 加拿大业务核心利润同比增长7% [20] 美国业务 - 美国保护性保险产品销售有所下降,新业务CSM同比下降 [21] - 美国业务核心利润同比下降11% [21] 各个市场数据和关键指标变化 - 中国内地销售有所下降,但其他亚洲新兴市场销售保持强劲增长 [17][48] - 日本和香港是亚洲业务的主要增长动力 [17] - 加拿大团体保险业务表现出色 [20] 公司战略和发展方向及行业竞争 - 公司已从2017年的高风险低收益转变为低风险高收益的业务 [7] - 公司有能力把握全球经济中的三大趋势:亚洲中产阶级的增长、全球退休缺口的扩大以及消费者数字化 [7] - 公司提出了新的财务目标,包括到2027年将核心权益回报率提升至18%以上,以及累计汇款达到220亿美元以上 [7][8] - 公司将重点执行在亚洲和全球财富管理业务,这两个高收益业务将是实现新目标的关键 [10][23] 管理层对经营环境和未来前景的评论 - 管理层对亚洲和全球财富管理业务的未来前景保持乐观 [10][48] - 管理层认为公司有能力实现新的财务目标,并将进一步巩固公司作为高增长、高收益和高现金生成公司的地位 [7][8][23] 其他重要信息 - 公司宣布将通过当前的股票回购计划,最多回购9000万股普通股,超过30亿美元 [9][22] - 公司最近完成了与Global Atlantic和RGA的再保险交易,释放了20亿美元的资本 [9] - 公司首席投资官Scott Hartz将于10月退休,由Trevor Kreel接任 [11] 问答环节重要的提问和回答 问题1 **Meny Grauman提问** 对于公司ALDA投资组合在本季度的较弱表现,尤其是私募股权投资部分,公司如何看待未来的表现和风险 [26][27][28][29][30] **Scott Hartz和Trevor Kreel回答** - 公司私募股权投资组合历史上一直是表现最好的ALDA类别之一,长期来看仍有信心 [28][29] - 本季度私募股权投资表现较弱主要是由于短期利率上升导致的估值压力 [28] - 预计随着未来短期利率下降,私募股权投资表现将会恢复良好 [28][29] - 公司将继续密切关注ALDA投资组合的表现,并适当调整投资规模 [30] 问题2 **John Aiken提问** DBS银行CEO的变更是否会对公司与DBS的合作关系产生影响 [32] **Roy Gori回答** - 公司与DBS的合作关系深厚,不会因为CEO变更而受到影响 [33] - 公司与DBS的合作关系不仅仅局限于现任CEO,而是与整个高管团队建立的 [33] 问题3 **Paul Holden提问** 公司如何看待全球最低税率(GMT)对亚洲业务的影响 [35][36] **Colin Simpson回答** - 本季度GMT对亚洲业务的影响约为3000万美元,占总影响的三分之二 [36] - 预计香港将于2025年采用GMT规则,公司将届时将相关税费分摊至亚洲业务 [36] - GMT对亚洲业务的贡献占比影响不大,从44%降至43% [36]

Second Quarter 2024 Financial & Operating Results August 8, 2024 Caution regarding forward-looking statements From time to time, Manulife makes written and/or oral forward-looking statements, including in this presentation. In addition, our representatives may make forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbour" provisions of Canadian provincial securities laws and the U.S. Private Securities Litigation Reform Act of ...

C$ unless otherwise stated                          TSX/NYSE/PSE: MFC   SEHK: 945TORONTO, Aug. 7, 2024 /PRNewswire/ - Manulife's Board of Directors today announced quarterly shareholders' dividends on the following non-cumulative preferred shares of Manulife Financial Corporation, payable on or after September 19, 2024, to shareholders of record at the close of business on August 21, 2024:Class A Shares Series 2 - $0.29063 per shareClass A Shares Series 3 - $0.28125 per shareClass 1 Shares Series 3 - $0.146 ...

C$ unless otherwise stated                          TSX/NYSE/PSE: MFC     SEHK: 945TORONTO, Aug. 7, 2024 /PRNewswire/ - Manulife's Board of Directors today announced a quarterly common shareholders' dividend of $0.40 per share on the common shares of Manulife, payable on and after September 19, 2024, to shareholders of record at the close of business on August 21, 2024.In respect of the Company's Canadian Dividend Reinvestment and Share Purchase Plan and its U.S. Dividend Reinvestment and Share Purchase Pla ...