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Canadian insurer Manulife Financial Corp on Wednesday beat analysts' estimates for third-quarter core profit as earnings growth from its Asian and wealth and asset management businesses offset declines in Canada.

Manulife reported underlying profit, excluding one-time charges, of $1.45-billion (US$1.11 billion), or 73 cents a share, in the three months through September, from $1.53-billion, or 76 U.S. cents, a year earlier. Analysts had expected 70 cents.

Net income attributed to shareholders rose to $2.1-billion from $723-million a year earlier as the company posted gains from investment-related experience versus losses in the prior period.

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