(Bloomberg) -- Manulife Financial, Canada’s largest insurer, posted earnings that met analysts’ expectations as gains in insurance and asset management were tempered by rising interest rates.

The Toronto-based company said second-quarter net income declined 36$ to $455 million, or 29 cents a share, according to a statement. Profit excluding some items was 44 cents a share, matching the average estimate of 13 analysts surveyed by Bloomberg.

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