Manulife Financial Corp. is reporting improved earnings for the fourth quarter ended Dec. 31, 2001.

The insurer said profit climbed on strong improvements across all business lines, particularly in domestic and Asian markets.

According to the firm, net income in the fourth quarter was $336 million, or 69¢ a share, up from $286 million, or 59¢ a share, in the year-before quarter.

Manulife says 2001 was its eighth consecutive year of record earnings. Full year profit was $1.2 billion, or $2.38 a share, on total revenues of $25.8 billion.

It was the second year in a row that Manulife’s profit for the year exceeded $1 billion.

Fourth-quarter return on equity rose to 16.4% from 16.1% on an annualized basis. Total premiums and deposits stood at $6.8 billion, compared with $6.1 billion last year.

According to Manulife, three of four main units — led by a marked improvement in the Asian division — contributed to its record resutls.. The reinsurance unit posted a flat quarter.

“The growth in our customer base, combined with the very significant expansion of our agency sales force in Asia, contributed positively to this year’s results and provides a solid foundation for further earnings increases in the future,” says Dominic D’Alessandro, president and chief executive at Manulife.

Manulife is also raising its quarterly dividend by 2¢ to 14¢.