Manulife Financial
May 8, 2008
Equity markets take bite out of Manulife
“Actuarial practices require us to assume that these declines are permanent and, accordingly, an after-tax (non-cash) charge of $265 million was recorded in the quarter.”
Manulife Financial Corp. reported Thursday a profit of $869 million, down from a year-ago $986 million as sliding equity markets took an estimated $265-million bite out of earnings. via The Toronto Star
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