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Consolidated Statements of Income - CAD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Premium income    
Gross premiums $ 44,344 $ 41,408
Premiums ceded to reinsurers (5,279) (8,491)
Net premiums 39,065 32,917
Investment income (note 3)    
Investment income 15,627 16,433
Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on the macro hedge program (4,003) 18,967
Net investment income 11,624 35,400
Other revenue (note 13) 11,132 10,591
Total revenue 61,821 78,908
Contract benefits and expenses    
Gross claims and benefits (note 6) 31,110 30,133
Increase (decrease) in insurance contract liabilities (note 6) 10,719 36,982
Increase (decrease) in investment contract liabilities (note 7) 44 178
Benefits and expenses ceded to reinsurers (6,805) (6,795)
(Increase) decrease in reinsurance assets (note 6) 754 (5,263)
Net benefits and claims 35,822 55,235
General expenses 7,828 7,510
Investment expenses (note 3) 1,980 1,787
Commissions 6,638 6,043
Interest expense 1,011 1,181
Net premium taxes 417 381
Total contract benefits and expenses 53,696 72,137
Income before income taxes 8,125 6,771
Income tax expense (note 16) (1,213) (1,195)
Net income 6,912 5,576
Net income (loss) attributed to:    
Non-controlling interests 255 250
Participating policyholders (448) (545)
Shareholders and other equity holders 7,105 5,871
Net income 6,912 5,576
Net income attributed to shareholders 7,105 5,871
Preferred share dividends and other equity distributions (215) (171)
Common shareholders' net income $ 6,890 $ 5,700
Earnings per share    
Basic earnings per common share (note 11) $ 3.55 $ 2.94
Diluted earnings per common share (note 11) 3.54 2.93
Dividends per common share $ 1.17 $ 1.12