Manulife 2015 profits hit by lower fuel costs

Canadian-based financial services group Manulife Financial Corp. saw its full-year 2015 profits fall 37.41 percent to $2.19 billion from $3.5 billion in 2014, as lower oil and gas prices hit the company’s energy investments.

A disclosure to the local bourse showed that Manulife realized $246 million in net income attributed to shareholders for the fourth quarter of 2015, closing the year with a $2.191 billion overall profit.