Manulife first-quarter profit halves

Thu May 2, 2013 6:35am EDT

May 2 (Reuters) - Manulife Financial Corp , Canada's largest insurer, reported a lower first-quarter profit on weak insurance sales and higher expenses.

Net income fell to C$540 million, or 28 cents per share, for the first quarter, from C$1.22 billion, or 63 cents per share, a year earlier.

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