The Toronto-based insurance firm reported $1.04 billion in income attributable to shareholders for the quarter that ended June 30, up from $1.03 billion for the same period a year earlier. Its core earnings per share were 91 cents, up from 83 cents a year earlier. (The Logic)

Talking point: The muted results belie the firm’s strong growth in Asia, where it posted a 289-per-cent jump in income to US$424 million from a year ago. That’s in contrast to its Canadian and U.S. business, which declined 65 per cent to $79 million and 28 per cent to US$98 million, respectively. In June, CEO Roy Gori said during an investor event in Hong Kong that he sees a lot of potential in Asia, given its growing middle class and aging population. Manulife also cited the $300-million loss from selling debt instruments in offsetting gains and leading to a “neutral” book value.