XML 98 R74.htm IDEA: XBRL DOCUMENT v3.25.0.1
Total Invested Assets and Related Net Investment Income - Narrative (Details)
$ in Millions
12 Months Ended
Dec. 31, 2024
CAD ($)
dollarsPerSquareFoot
Dec. 31, 2023
CAD ($)
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Assets supporting CLOs $ 5,356 $ 3,478
Collateralized loan obligation 5,028 3,247
Realized and unrealized losses on CLOs 56  
Other non-financial invested assets 1,829 1,657
Notional amount 178,698 162,948
Fair value 178,651 162,854
Financial liabilities 21,287 18,902
Financial liabilities, at fair value $ 21,236 $ 18,801
Repurchase agreement interest rate 3.52% 4.86%
Carrying value of securities lent $ 2,840 $ 2,705
Cash collateral on securities lent    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Cash collateral 194 187
Securitized Mortgages    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Notional amount 1,555 1,792
Fair value 1,505 1,697
Securities in Principal Reinvestment Account    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Notional amount 302 335
Cash and cash equivalents in Principal Reinvestment Account    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Notional amount 0 57
Transferred assets    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Fair value 2,840 2,705
Securities lending    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Carrying value of securities lent 2,377 2,044
Collateral associated with securities lending    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Carrying value of securities lent $ 2,506 2,158
Bottom of range    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Repurchase agreement maturity period 6 days  
Bottom of range | Discounted cash flow    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Rental growth rate (per annum) 0.00%  
Long-term vacancy rate 0.00%  
Discount rate 5.50%  
Terminal capitalization rate 4.50%  
Bottom of range | Discounted cash flow | Credit spread, measurement input    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Significant unobservable inputs 0.0099  
Bottom of range | Retail and office properties | Discounted cash flow    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Estimated rental value (per square foot, per annum) | dollarsPerSquareFoot 12.00  
Bottom of range | Industrial properties | Discounted cash flow    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Estimated rental value (per square foot, per annum) | dollarsPerSquareFoot 3.00  
Top of range    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Repurchase agreement maturity period 365 days  
Top of range | Discounted cash flow    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Rental growth rate (per annum) 3.20%  
Long-term vacancy rate 25.00%  
Discount rate 9.50%  
Terminal capitalization rate 8.75%  
Top of range | Discounted cash flow | Credit spread, measurement input    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Significant unobservable inputs 0.0357  
Top of range | Discounted cash flow | Liquidity adjustments, premium (discount), measurement input    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Significant unobservable inputs 0.0205  
Top of range | Retail and office properties | Discounted cash flow    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Estimated rental value (per square foot, per annum) | dollarsPerSquareFoot 76.00  
Top of range | Industrial properties | Discounted cash flow    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Estimated rental value (per square foot, per annum) | dollarsPerSquareFoot 23.00  
Weighted average    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Repurchase agreement maturity period 91 days  
Investments accounted for using equity method    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Other non-financial invested assets $ 1,829 1,657
Investment property | Discounted cash flow    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Expected return period 10 years  
At cost    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Other non-financial invested assets $ 9,290 9,723
At fair value    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Other non-financial invested assets 9,290 9,723
Other financial invested assets (CLOs)    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Maximum contractual exposure to credit risk of loans or receivables 263 192
Financial liabilities 5,028 3,247
Financial liabilities, at fair value 5,028 3,247
Securitized Mortgages    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Financial liabilities 1,854 2,119
Financial liabilities, at fair value 1,807 2,021
Cash and Accounts Receivable    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Assets supporting CLOs 679 251
Loans    
Disclosure Of Fair Value Measurement of Assets and Liabilities [Line Items]    
Assets supporting CLOs $ 4,677 $ 3,227