TORONTO (Yosefardi) – Manulife Asset Management, the investment management arm of Manulife, reported insurance sales of US$21 million in third quarter (Q3) of 2015, a 13% decrease as a result of a challenging economic environment.
For Wealth and Asset Management, Manulife reported gross flows of US$111 million in Q3/15 for Indonesia operation, decreased 41%. Weaker mutual fund sales as a result of unfavourable market conditions were partially offset by increased pension business sales.
For Asia region, Manulife’s insurance sales reached US$379 million in Q3/15, a 19% higher than Q3/14, with double digit growth in most territories and record sales in Asia Other. Year-to-date sales of US$1,091 million were 31% higher than the same period of 2014.
Wealth and Asset Management’s gross flows was US$1.9 billion in Q3/15 for Asia operation, were 8% lower than Q3/14. Year-to-date gross flows of US$9.7 billion were 79% higher than the same period of 2014.