Finance
Brookfield Corp. Profit Climbs as Wealth Unit Boosts Results
- Wealth unit to reinsure $1.4 billion of UK pension liabilities
- Brookfield also sees wealth opportunities in Asia, CEO says
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Brookfield Corp.’s earnings soared in the second quarter, boosted by strong results from its wealth solutions business as the company hunts for growth outside its home markets.
The Toronto-based investment firm, which owns a majority stake in Brookfield Asset Management, reported distributable earnings of $1.26 billion, or 80 cents a share, excluding gains on asset sales. That rose 19% over the same period a year ago.