TORONTO, Feb 12 (Reuters) - Manulife Financial Corp reported a weaker-than-expected fourth-quarter profit on Thursday and warned macroeconomic factors like low interest rates would produce “headwinds” in 2015.
The insurer reported common shareholders’ net income fell to C$612 million ($487.11 million), or 33 Canadian cents a share, in the quarter ended Dec. 31, from C$1.26 billion, or 68 Canadian cents a share, a year earlier.
Canada’s largest life insurer said its core earnings were 36 Canadian cents per common share. Analysts on average had expected Manulife to earn 41 Canadian cents a share.
$1 = 1.2564 Canadian dollars Reporting by Jeffrey Hodgson Editing by W Simon