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v3.22.4

Consolidated Statements of Income - CAD ($) $ in Millions | 12 Months Ended
--- | ---
Dec. 31, 2022 | Dec. 31, 2021
Premium income |  |
Gross premiums | $ 44,102 | $ 44,344
Premiums ceded to reinsurers | (6,249) | (5,279)
Net premiums | 37,853 | 39,065
Investment income (note 4) |  |
Investment income | 15,207 | 15,627
Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on the macro hedge program | (45,077) | (4,003)
Net investment income (loss) | (29,870) | 11,624
Other revenue (note 14) | 9,164 | 11,132
Total revenue | 17,147 | 61,821
Contract benefits and expenses |  |
Gross claims and benefits (note 7) | 33,320 | 31,110
Increase (decrease) in insurance contract liabilities (note 7) | (34,971) | 10,719
Increase (decrease) in investment contract liabilities (note 8) | 41 | 44
Benefits and expenses ceded to reinsurers | (7,016) | (6,805)
(Increase) decrease in reinsurance assets (note 7) | (673) | 754
Net benefits and claims | (9,299) | 35,822
General expenses | 7,782 | 7,828
Investment expenses (note 4) | 1,863 | 1,980
Commissions | 6,260 | 6,638
Interest expense | 1,350 | 1,011
Net premium taxes | 444 | 417
Total contract benefits and expenses | 8,400 | 53,696
Income before income taxes | 8,747 | 8,125
Income tax expense (note 17) | (1,565) | (1,213)
Net income | 7,182 | 6,912
Net income (loss) attributed to: |  |
Non-controlling interests | (1) | 255
Participating policyholders | (111) | (448)
Shareholders and other equity holders | 7,294 | 7,105
Net income | 7,182 | 6,912
Net income attributed to shareholders | 7,294 | 7,105
Preferred share dividends and other equity distributions | (260) | (215)
Common shareholders' net income | $ 7,034 | $ 6,890
Earnings per share |  |
Basic earnings per common share (note 12) | $ 3.68 | $ 3.55
Diluted earnings per common share (note 12) | 3.68 | 3.54
Dividends per common share | $ 1.32 | $ 1.17

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- Definition The amount of expense relating to selling, general and administrative activities of the entity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 85 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_85&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition Benefits and expenses ceded to reinsurers. + References No definition available. + Details
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- Definition Benefits claims and expenses. + References No definition available. + Details
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- Definition Benefits expense arising from insurance contracts. + References No definition available. + Details
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- Definition Change in insurance contract liabilities. + References No definition available. + Details
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- Definition Increase decrease in investment contract liabilities. + References No definition available. + Details
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- Definition Insurance claims and benefits gross. + References No definition available. + Details
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- Definition Insurance premium income. + References No definition available. + Details
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- Definition Investment expenses. + References No definition available. + Details
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- Definition Investment Income Loss [abstract] + References No definition available. + Details
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- Definition Net insurance premium taxes. + References No definition available. + Details
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- Definition Net investment income (loss). + References No definition available. + Details
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- Definition Premiums ceded to reinsurers. + References No definition available. + Details
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- Definition Profit loss attributable to common shareholders. + References No definition available. + Details
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- Definition Profit loss attributable to participating policyholders. + References No definition available. + Details
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- Definition Profit Loss Attributable To Preferred Share Dividends And Other Equity Distributions + References No definition available. + Details
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- Definition Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on the macro hedge program. + References No definition available. + Details
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