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Source: Getty Images <\/p>\n Source: Getty Images <\/p>\n
Written by Amy Legate-Wolfe<\/a> at The Motley Fool Canada<\/p>\n Canadian insurers still look like strong long-term picks in 2026. They tend to throw off dependable cash, return a healthy chunk to shareholders, and lean on businesses that don\u2019t disappear just because markets get choppy. That\u2019s why today we\u2019re looking at the best of the best. But, which one edges out the other?<\/p>\n Manulife (TSX:MFC<\/a>) looks compelling right now because it has quietly turned into more than just a traditional insurer. It runs a huge global business across Asia, Canada, the U.S., and wealth and asset management, with $1.7 trillion in assets under management and administration at the end of 2025. Over the last year, one of the biggest themes was strength in Asia, which helped power growth and gave investors another reason to pay attention. Late last year MFC stock\u2019s Asia business posted a 29% jump in core earnings in one quarter, showing where the momentum sits.<\/p>\n The earnings story looks solid. For the fourth quarter of 2025, MFC stock reported core earnings up 5% year over year, while management called 2025 a defining year with record core earnings and more than 20% new business CSM growth across all insurance segments. It also raised its quarterly dividend by 10.2% to $0.485 per share, which gives investors another signal that management feels good about cash flow and capital strength.<\/p>\n Valuation<\/a> still leaves room for upside. MFC stock trades at about 15 times trailing earnings and roughly 10.3 times forward earnings at writing. That\u2019s not dirt cheap, but it still looks reasonable for a company with global scale, dividend growth, and expanding higher-growth operations in Asia and wealth management. The main risk is that insurance earnings can swing with claims, markets, and interest rates, but for a buy-and-hold investor, MFC stock<\/a> looks like the more attractive mix of growth and value.<\/p>\n Sun Life (TSX:SLF<\/a>) also deserves respect. It built a strong mix of insurance, wealth, and health businesses across Canada, the U.S., Asia, and asset management. That broader health and benefits focus gives it a slightly different flavour than MFC stock, and that can appeal to investors who want steadier fee and protection revenue. Over the last year, Sun Life kept pushing that strategy while also drawing attention for expansion ambitions abroad, including reported interest in insurance assets in Singapore.<\/p>\n Its latest numbers were strong. Sun Life reported fourth-quarter 2025 underlying net income of $1.1 billion, up from $965 million a year earlier, while full-year underlying net income rose to $4.2 billion from $3.9 billion. Underlying earnings per share climbed 17% in the quarter, and underlying return on equity came in at 19.1%. It also ended 2025 with $1.6 trillion in assets under management and lifted its dividend by 9% year over year.<\/p>\n Sun Life\u2019s valuation looks fair as well. It traded at 14 times trailing earnings and about 11 times forward earnings at writing, so it\u2019s hardly expensive. The catch is that a lot of its good qualities already look well understood by the market, and its growth story feels a touch more measured than MFC stock\u2019s at the moment. It still fits a buy-and-hold portfolio nicely, but investors need to watch asset-management flows, market sensitivity, and any slowdown in key growth regions.<\/p>\n Between the two, I\u2019d buy and hold MFC stock. Sun Life looks like a quality stock, but MFC stock has the sharper growth angle right now, especially through Asia and wealth management, while still offering a reasonable valuation and rising dividend. But both certainly can bring in substantial income even from a $7,000 investment.<\/p>\n COMPANY<\/p>\n RECENT PRICE<\/p>\n NUMBER OF SHARES<\/p>\n ANNUAL DIVIDEND<\/p>\n ANNUAL TOTAL PAYOUT<\/p>\n FREQUENCY<\/p>\n TOTAL INVESTMENT<\/p>\n MFC<\/p>\n $46.32<\/p>\n 151<\/p>\n $1.81<\/p>\n $273.31<\/p>\n Quarterly<\/p>\n $6,994.32<\/p>\n SLF<\/p>\n $85.37<\/p>\n 81<\/p>\n $3.60<\/p>\n $291.60<\/p>\n Quarterly<\/p>\n $6,914.97<\/p>\n For investors who want one Canadian insurer to tuck away and forget about for years, MFC stock gets the nod.<\/p>\n The post Manulife vs. Sun Life: 1 Canadian Insurer I\u2019d Buy and Hold<\/a> appeared first on The Motley Fool Canada<\/a>.<\/p>\n Before you buy stock in Manulife Financial Corporation, consider this:<\/p>\n The Motley Fool Canada team has identified what they believe are the top 10 TSX stocks for 2026\u2026 and Manulife Financial Corporation wasn\u2019t one of them. The 10 stocks that made the cut could potentially produce monster returns in the coming years.<\/p>\n Consider MercadoLibre, which we first recommended on January 8, 2014 \u2026 if you invested $1,000 in the \u201ceBay of Latin America\u201d at the time of our recommendation, you\u2019d have over $16,000!*<\/p>\n Now, it\u2019s worth noting Stock Advisor Canada\u2019s total average return is 87%* \u2013 a market-crushing outperformance compared to 76%* for the S&P\/TSX Composite Index. Don\u2019t miss out on our top 10 stocks, available when you join our mailing list!<\/p>\n Get the 10 stocks instantly<\/a><\/p>\n * Returns as of March 24th, 2026<\/p>\n More reading<\/p>\n Fool contributor Amy Legate-Wolfe<\/a> has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy<\/a>.<\/p>\n 2026<\/p>\n","protected":false},"excerpt":{"rendered":"Source: Getty Images Written by Amy Legate-Wolfe at The Motley Fool Canada Canadian insurers still look like strong…\n","protected":false},"author":2,"featured_media":8718,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4879,4880,17,4881,2311,2292,4689,4877,4876,4878],"class_list":{"0":"post-8717","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"tag-asset-management","9":"tag-assets-under-management","10":"tag-canada","11":"tag-core-earnings","12":"tag-dividend-growth","13":"tag-fool-canada","14":"tag-manulife","15":"tag-mfc-stock","16":"tag-sun-life","17":"tag-wealth-management"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/8717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=8717"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/8717\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/8718"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=8717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=8717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=8717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}