Manulife Financial Targets Core EPS Growth Of 10% - 12% Over Medium Term

(RTTNews) - Manulife Financial Corporation (MFC.TO) said it remains committed to its medium-term targets and has a clear path to delivering 10 to 12 percent annual Core earnings per share growth.

The company plans to generate 75 percent of total company core earnings from highest potential businesses by 2025. The company expects to see a very significant growth rate in insurance premiums over the next decade in Asia at more than double the rate it will in North America.

Manulife said that it has achieved its portfolio optimization target three years ahead of schedule, releasing C$5.9 billion of capital. In addition, Manulife's C$1 billion expense savings target was achieved two years ahead of schedule.

The company noted that it is on track to deliver on its Expense Efficiency target to consistently report an expense efficiency ratio of less than 50 per cent by 2022.