Manulife Raises CEO’s Pay 21% to $10 Million as Profit Increases

Manulife Financial Corp. (MFC) awarded Chief Executive Officer Donald Guloien C$10.4 million ($10.1 million) in 2012, a 21 percent increase from a year earlier, after Canada’s largest insurer increased annual profit.

Guloien, 55, was awarded C$8.67 million in 2011, according to a regulatory filing today by the Toronto-based firm. Manulife reported 2012 profit of C$1.74 billion, compared with C$129 million a year earlier.

To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net

To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net; David Scheer at dscheer@bloomberg.net

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