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Consolidated Statements of Income - CAD
CAD in Millions
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Premium income    
Gross premiums CAD 36,361 CAD 36,659
Premiums ceded to reinsurers (8,151) (9,027)
Net premiums 28,210 27,632
Investment income (note 4)    
Investment income 13,649 13,390
Realized and unrealized gains on assets supporting insurance and investment contract liabilities and on the macro hedge program 5,718 1,134
Net investment income 19,367 14,524
Other revenue 10,746 11,181
Total revenue 58,323 53,337
Contract benefits and expenses To contract holders and beneficiaries    
Gross claims and benefits (note 8) 24,994 25,059
Change in insurance contract liabilities 20,023 18,014
Change in investment contract liabilities 173  
Benefits and expenses ceded to reinsurers (8,158) (8,097)
Change in reinsurance assets (note 8) 2,269 (842)
Net benefits and claims 39,301 34,134
General expenses 7,233 6,995
Investment expenses (note 4) 1,673 1,646
Commissions 6,116 5,818
Interest expense 1,139 1,013
Net premium taxes 360 402
Total contract benefits and expenses 55,822 50,008
Income before income taxes 2,501 3,329
Income tax (expense) recovery (239) (196)
Net income 2,262 3,133
Net income (loss) attributed to:    
Non-controlling interests 194 143
Participating policyholders (36) 61
Shareholders 2,104 2,929
Net income 2,262 3,133
Net income attributed to shareholders 2,104 2,929
Preferred share dividends (159) (133)
Common shareholders' net income CAD 1,945 CAD 2,796
Earnings per share    
Basic earnings per common share (note 13) CAD 0.98 CAD 1.42
Diluted earnings per common share (note 13) 0.98 1.41
Dividends per common share CAD 0.82 CAD 0.74