The Toronto-based insurance giant increased its return-on-equity target to 18 per cent by 2027, up from its current 15 per cent target. It also expects to receive $22 billion in remittances over the next three years, compared to the $18.4 billion it received for the last three. (The Logic)

Talking point: The increased optimism follows a “transformation journey” at Manulife that started in 2017 and has resulted in the firm offloading risk and positioning itself to capitalize on global trends, said CEO Roy Gori during the three-day investor event in Hong Kong. Gori said he sees lots of potential in Asia, given its growing middle class and aging population. The region’s markets helped boost Manulife’s profits in the first quarter of the year, with core earnings up 39 per cent from a year earlier.