This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Manulife Financial's CEO Discusses Q1 2012 Results - Earnings Call Transcript

The strength of our underlying earnings reflects our healthier business mix, with the emphasis on wealth management, Insurance products with less risks, higher margins and higher returns. While we're very pleased with our results, the first quarter was not without its challenges. We experienced poor policyholder experience, which we expect at largely a random fluctuation and mutual funds sale's slightly lower than last year. That being said, we reported record funds under management of $512 billion, which fuels current and future fee revenue. In Asia, we delivered record Insurance sales. This demonstrates, among other things, that investments in our brand and distribution are paying off. In Canada, our broad-based diversified financial services strategy has resulted in strong Insurance sales led by record sales in our Group Benefits business. In the United States, we continue to leverage our distribution strength, to deliver solid Insurance, mutual funds and 401(k) sales.

On the investment side, mutual funds managed by Manulife Asset Management received 8 Lipper Awards and our general account asset performance continue to be a strength of the company. In conclusion, I'm pleased with our solid first quarter results, favorable markets, positive hedging results, strong insurance sales and stronger underlying earnings relative to the fourth quarter of 2011 all contributed. We believe these results will provide investors with a sense of the potential of our company and where our strategy is leading us.

Before I turn things over to Michael Bell, I'd like to say a few words. This is Mike's last quarterly earnings call, and I want to give credit to Mike and the team for improving the transparency and understandability of the finances of our company. As I mentioned, we're bringing in a new CFO, Steve Roder, who will continue to lead these improvements. Steve brings to Manulife 25 years of experience in public accounting and his integrity values, professionalism and communication skills will ensure that our disclosure continues to be of the highest quality. In addition, Steve's deep understanding of the financial services market in Asia will be a key asset given our heightened focus on the region. I'm looking forward to working with Steve when he joins us formally at the beginning of June. Michael will be staying with us to ensure a smooth transition of responsibilities. Mike has helped guide Manulife through some of the most challenging times, and I want to thank him for all his considerable contributions.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs