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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