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CONSOLIDATED STATEMENTS OF OPERATIONS
$ in Millions
 12 Months Ended
Dec. 31, 2024
CAD ($)
$ / shares
$ / shares
Dec. 31, 2023
CAD ($)
$ / shares
$ / shares
Insurance service result    
Insurance revenue $ 22,637 $ 21,356
Insurance service expenses (19,631) (18,450)
Reinsurance contract held net income (expenses) 85 (69)
Net insurance service result 3,091 2,837
Investment result excluding result for account of segregated fund holders:    
Net investment income (loss) 7,415 11,586
Insurance finance income (expenses) from insurance contracts issued (5,139) (9,675)
Insurance finance income (expenses) from reinsurance contracts held 51 59
Decrease (increase) in investment contract liabilities (393) (331)
Net investment result excluding result for account of segregated fund holders 1,934 1,639
Investment result for insurance contracts for account of segregated fund holders:    
Investment income (loss) on investments for account of segregated fund holders 2,316 1,793
Insurance finance income (expenses) (2,316) (1,793)
Net investment result for insurance contracts for account of segregated fund holders 0 0
Net investment result 1,934 1,639
Fee income 8,581 7,832
Other expenses (income)    
Other income (163) (169)
Operating expenses and commissions 8,766 7,995
Interest expenses 664 552
Total other expenses (income) 9,267 8,378
Income (loss) before income taxes 4,339 3,930
Less: Income tax expense (benefit) 1,040 461
Total net income (loss) 3,299 3,469
Less: Net income (loss) allocated to the participating account 42 178
Net income (loss) attributable to non-controlling interests 128 126
Shareholders' net income (loss) 3,129 3,165
Less: Dividends on preferred shares and distributions on other equity instruments 80 79
Common shareholders' net income (loss) $ 3,049 $ 3,086
Average exchange rates during the reporting periods (in USD per share) | $ / shares 1.37 1.35
Earnings (loss) per share    
Basic (in CAD per share) | $ / shares $ 5.27 $ 5.27
Diluted (in CAD per share) | $ / shares 5.26 5.26
Dividends per common share (in CAD per share) | $ / shares $ 3.240 $ 3.000