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CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
$ in Millions
Dec. 31, 2023
CAD ($)
$ / shares
Dec. 31, 2022
CAD ($)
$ / shares
Dec. 31, 2021
CAD ($)
$ / shares
Assets      
Cash, cash equivalents and short-term securities (Note 5) $ 13,173 $ 11,219 $ 12,278
Debt securities (Notes 5 and 6) 75,493 75,902 88,727
Equity securities (Notes 5 and 6) 7,138 7,148 9,113
Mortgages and loans (Notes 5 and 6) 54,600 51,253 55,727
Derivative assets (Notes 5 and 6) 2,183 2,095 1,583
Other financial invested assets (Note 5) 10,361 9,418 7,071
Financial assets 162,948 157,035 174,499
Investment properties (Note 5) 9,723 10,102 9,109
Other non-financial invested assets (Note 5) 1,657 1,652 1,660
Invested assets 174,328 168,789 185,268
Other assets (Note 8) 6,462 6,442 4,279
Reinsurance contract held assets 5,794 6,115 6,612
Insurance contract assets 184 75 162
Deferred tax assets (Note 19) 3,878 3,466 2,940
Intangible assets (Note 9) 5,174 4,724 3,370
Goodwill (Note 9) 8,969 8,705 6,517
Total general fund assets 204,789 198,316 209,148
Investments for account of segregated fund holders (Note 21) 128,452 125,292 139,996
Total assets 333,241 323,608 349,144
Liabilities      
Insurance contract liabilities excluding those for account of segregated fund holders (Note 10) 135,669 131,294 149,412
Reinsurance contract held liabilities 1,623 1,603 1,994
Investment contract liabilities 11,672 10,728 9,914
Derivative liabilities (Notes 5 and 6) 1,311 2,351 1,392
Deferred tax liabilities (Note 19) 281 468 234
Other liabilities (Note 11) 23,655 22,109 17,371
Senior debentures (Note 12) 200 200 200
Subordinated debt (Note 13) 6,178 6,676 6,425
Total general fund liabilities 180,589 175,429 186,942
Insurance contract liabilities for account of segregated fund holders (Note 21) 19,041 23,139 26,079
Investment contract liabilities for account of segregated fund holders (Note 21) 109,411 102,153 113,917
Total liabilities 309,041 300,721 326,938
Equity      
Issued share capital and contributed surplus 10,660 10,640 10,615
Shareholders’ retained earnings and accumulated other comprehensive income 12,922 11,889 11,342
Total shareholders’ equity 23,582 22,529 21,957
Participating policyholders’ equity 457 268 190
Non-controlling interests’ equity 161 90 59
Total equity 24,200 22,887 22,206
Total liabilities and equity $ 333,241 $ 323,608 $ 349,144
Exchange rates at the end of the reporting periods (in USD per share) | $ / shares 1.32 1.35 1.26