Manulife Financial Corp. gave little attention to its U.S. long-term care insurance (LTCI) business today as it reviewed its latest earnings.
Manulife (TSX:MFC), the parent of John Hancock, reports results for the company as a whole in Canadian dollars. The company earned $977 million in net income in Canadian currency for the second quarter on $4.2 billion in revenue, up from $308 million in net income on $4.2 billion in revenue for the comparable quarter in 2013.
The U.S. LTCI business — which reports its results in U.S. dollars — produced $13 million in new LTCI sales and $549 million in premiums and deposits. That compares with $13 million in LTCI sales and $547 million in premiums and deposits for the second quarter of 2013.
The company is not breaking out other LTCI unit performance indicators.