Manulife targets half of profit from Asia

Manulife Financial is expecting to hit a goal of getting half of its profit from Asia by 2025. The Canadian insurer is counting on the region to be its most promising driver of growth after more than a century of operation. Chief executive officer Roy Gori said Asia and wealth and asset management are massive priorities. Under Gori’s stint as CEO since October 2017, Manulife has grown from the sixth-largest pan-Asian insurance company to the third-largest. Manulife last year generated about 39% of its core earnings from the region, including contributions from wealth and asset management. Gori said Asia’s growing middle class and ageing population bode particularly well for Manulife’s business in the face of global challenges.