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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2023
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Summary of Condensed Consolidated Statements of Income Information for MFC and MFLP | Condensed Consolidated Statements of Income Information
For the year ended December 31, 2023 |  | MFC (Guarantor) |  |  | Other subsidiaries on a combined basis |  |  | Consolidation adjustments |  |  | Total consolidated amounts |  |  |  |  |  | MFLP |
Insurance service result |  | $ | – |  |  | $ | 3,977 |  |  | $ | – |  |  | $ | 3,977 |  |  |  |  |  |  | $ | – |
Investment result |  |  | 638 |  |  |  | 3,646 |  |  |  | (1,326) |  |  |  | 2,958 |  |  |  |  |  |  |  | 51 |
Other revenue |  |  | 14 |  |  |  | 6,736 |  |  |  | (4) |  |  |  | 6,746 |  |  |  |  |  |  |  | (7 | )
Net income (loss) attributed to shareholders and other equity holders |  |  | 5,103 |  |  |  | 4,785 |  |  |  | (4,785) |  |  |  | 5,103 |  |  |  |  |  |  |  | 1 |
For the year ended December 31, 2022 |  | MFC (Guarantor) |  |  | Other subsidiaries on a combined basis |  |  | Consolidation adjustments |  |  | Total consolidated amounts |  |  |  |  |  | MFLP |
Insurance service result |  | $ | – |  |  | $ | 3,160 |  |  | $ | – |  |  | $ | 3,160 |  |  |  |  |  |  | $ | – |
Investment result |  |  | 554 |  |  |  | (5,823 | ) |  |  | (1,100 | ) |  |  | (6,369 | ) |  |  |  |  |  |  | 49 |
Other revenue |  |  | (36 | ) |  |  | 6,225 |  |  |  | (3 | ) |  |  | 6,186 |  |  |  |  |  |  |  | 15 |
Net income (loss) attributed to shareholders and other equity holders |  |  | (1,933 | ) |  |  | (2,156 | ) |  |  | 2,156 |  |  |  | (1,933 | ) |  |  |  |  |  |  | 21 |
Summary of Condensed Consolidated Statements of Financial Position for MFC and MFLP | Condensed Consolidated Statements of Financial Position
As at December 31, 2023 |  | MFC (Guarantor) |  |  | Other subsidiaries on a combined basis |  |  | Consolidation adjustments |  |  | Total consolidated amounts |  |  |  |  |  | MFLP |
Invested assets |  | $ | 86 |  |  | $ | 417,124 |  |  | $ | – |  |  | $ | 417,210 |  |  |  |  |  |  | $ | 9 |
Insurance contract assets |  |  | – |  |  |  | 145 |  |  |  | – |  |  |  | 145 |  |  |  |  |  |  |  | – |
Reinsurance contract held assets |  |  | – |  |  |  | 42,651 |  |  |  | – |  |  |  | 42,651 |  |  |  |  |  |  |  | – |
Total other assets |  |  | 59,023 |  |  |  | 42,411 |  |  |  | (63,410 | ) |  |  | 38,024 |  |  |  |  |  |  |  | 969 |
Segregated funds net assets |  |  | – |  |  |  | 377,544 |  |  |  | – |  |  |  | 377,544 |  |  |  |  |  |  |  | – |
Insurance contract liabilities, excluding those for account of segregated fund holders |  |  | – |  |  |  | 367,996 |  |  |  | – |  |  |  | 367,996 |  |  |  |  |  |  |  | – |
Reinsurance contract held liabilities |  |  | – |  |  |  | 2,831 |  |  |  | – |  |  |  | 2,831 |  |  |  |  |  |  |  | – |
Investment contract liabilities |  |  | – |  |  |  | 11,816 |  |  |  | – |  |  |  | 11,816 |  |  |  |  |  |  |  | – |
Total other liabilities |  |  | 12,070 |  |  |  | 55,129 |  |  |  | (539 | ) |  |  | 66,660 |  |  |  |  |  |  |  | 718 |
Insurance contract liabilities for account of segregated fund holders |  |  | – |  |  |  | 114,143 |  |  |  | – |  |  |  | 114,143 |  |  |  |  |  |  |  | – |
Investment contract liabilities for account of segregated fund holders |  |  | – |  |  |  | 263,401 |  |  |  | – |  |  |  | 263,401 |  |  |  |  |  |  |  | – |
As at December 31, 2022 |  | MFC (Guarantor) |  |  | Other subsidiaries on a combined basis |  |  | Consolidation adjustments |  |  | Total consolidated amounts |  |  |  |  |  | MFLP |
Invested assets |  | $ | 63 |  |  | $ | 400,079 |  |  | $ | – |  |  | $ | 400,142 |  |  |  |  |  |  | $ | 21 |
Insurance contract assets |  |  | – |  |  |  | 673 |  |  |  | – |  |  |  | 673 |  |  |  |  |  |  |  | – |
Reinsurance contract held assets |  |  | – |  |  |  | 45,871 |  |  |  | – |  |  |  | 45,871 |  |  |  |  |  |  |  | – |
Total other assets |  |  | 58,357 |  |  |  | 42,751 |  |  |  | (62,667 | ) |  |  | 38,441 |  |  |  |  |  |  |  | 950 |
Segregated funds net assets |  |  | – |  |  |  | 348,562 |  |  |  | – |  |  |  | 348,562 |  |  |  |  |  |  |  | – |
Insurance contract liabilities, excluding those for account of segregated fund holders |  |  | – |  |  |  | 354,849 |  |  |  | – |  |  |  | 354,849 |  |  |  |  |  |  |  | – |
Reinsurance contract held liabilities |  |  | – |  |  |  | 2,391 |  |  |  | – |  |  |  | 2,391 |  |  |  |  |  |  |  | – |
Investment contract liabilities |  |  | – |  |  |  | 10,079 |  |  |  | – |  |  |  | 10,079 |  |  |  |  |  |  |  | – |
Total other liabilities |  |  | 11,544 |  |  |  | 58,482 |  |  |  | (444 | ) |  |  | 69,582 |  |  |  |  |  |  |  | 712 |
Insurance contract liabilities for account of segregated fund holders |  |  | – |  |  |  | 110,216 |  |  |  | – |  |  |  | 110,216 |  |  |  |  |  |  |  | – |
Investment contract liabilities for account of segregated fund holders |  |  | – |  |  |  | 238,346 |  |  |  | – |  |  |  | 238,346 |  |  |  |  |  |  |  | – |
Schedule of Pledged Assets | The amounts pledged are as follows.
|  | 2023 |  |  |  |  |  | 2022 |
As at December 31, |  | Debt securities |  |  | Other |  |  |  |  |  | Debt securities |  |  | Other |
In respect of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  | $ | 10,431 |  |  | $ | 26 |  |  |  |  |  |  | $ | 11,944 |  |  | $ | 23 |
Secured borrowings |  |  | – |  |  |  | 2,220 |  |  |  |  |  |  |  | – |  |  |  | 2,241 |
Regulatory requirements |  |  | 307 |  |  |  | 74 |  |  |  |  |  |  |  | 320 |  |  |  | 77 |
Repurchase agreements |  |  | 201 |  |  |  | – |  |  |  |  |  |  |  | 886 |  |  |  | – |
Non-registered retirement plans in trust |  |  | – |  |  |  | 298 |  |  |  |  |  |  |  | – |  |  |  | 326 |
Other |  |  | – |  |  |  | 283 |  |  |  |  |  |  |  | – |  |  |  | 404 |
Total |  | $ | 10,939 |  |  | $ | 2,901 |  |  |  |  |  |  | $ | 13,150 |  |  | $ | 3,071 |

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