The Toronto-based insurer reported a quarterly profit of $1.84bn, up from $1.01bn the previous year, with earnings per share reaching $1, an increase from 52 cents a year prior.
Simpson noted that Manulife’s Canadian operations also performed well due to diversification efforts made in recent years.
“Our book value grew by 9 percent and 14 percent on an adjusted basis, surpassing analyst expectations,” Simpson said, adding that the company is “particularly pleased with this quarter’s results.”
Manulife’s previous all-time high of just over $44 was last seen in 2007, before the financial crisis of 2008 drove shares to lows of less than $10 in 2009. On Thursday, shares were trading above $45.
These earnings results were released one week after Manulife announced a workforce reduction of 2.5 percent within its global wealth and asset management unit, affecting approximately 225 positions.
