Manulife Financial (MFC) has reported a net income of C$1.03m ($991.6m) in the third quarter of fiscal 2013, compared to a net loss of C$211m ($202.3m) in the same quarter last year.
The company generated core earnings of C$704m ($675.1m), compared to C$570m ($486.2m) in the third quarter of 2012.
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MFC also posted a 4% increase in insurance sales compared to the corresponding quarter a year ago.
Manulife Financial president and chief executive officer Donald Guloien said that the company is pleased to see its strategy unfolding into strong operating results, and are making real tangible progress against its longer-term objectives.
"Insurance sales increased modestly, but most importantly, were accompanied by much higher margins; wealth sales were extremely positive across the board," Guloien added.
For nine months ended 30 September 2013, the company reported a net income of C$1.83bn ($1.75bn), compared to C$733m ($702.9m) for the first same period of 2012.
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