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Consolidated Statements of Financial Position - CAD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Jan. 01, 2022
Assets      
Cash and short-term securities $ 20,338 $ 19,153 $ 22,594
Debt securities 212,149 203,842 224,139
Public equities 25,531 23,519 28,067
Mortgages 52,421 51,765 53,948
Private placements 45,606 42,010 47,289
Loans to Bank clients 2,436 2,781 2,506
Real estate 13,049 14,269 14,269
Other invested assets 45,680 42,803 35,291
Total invested assets (note 4) 417,210 400,142 428,103
Other assets      
Accrued investment income 2,678 2,635 2,428
Derivatives (note 5) 8,546 8,588 17,503
Insurance contract assets (note 7) 145 673 972
Reinsurance contract held assets (note 7) 42,651 45,871 52,829
Deferred tax assets 6,739 6,708 7,767
Goodwill and intangible assets (note 6) 10,310 10,519 9,919
Miscellaneous 9,751 9,991 8,911
Total other assets 80,820 84,985 100,329
Segregated funds net assets (note 23) 377,544 348,562 399,788
Total assets 875,574 833,689 928,220
Liabilities      
Insurance contract liabilities, excluding those for account of segregated fund holders (note 7) 367,996 354,849 405,621
Reinsurance contract held liabilities (note 7) 2,831 2,391 2,079
Investment contract liabilities (note 8) 11,816 10,079 10,064
Deposits from Bank clients 21,616 22,507 20,720
Derivatives (note 5) 11,730 14,289 10,038
Deferred tax liabilities 1,697 1,536 1,713
Other liabilities 18,879 18,894 19,443
Long-term debt (note 10) 6,071 6,234 4,882
Capital instruments (note 11) 6,667 6,122 6,980
Total liabilities, excluding those for account of segregated fund holders 449,303 436,901 481,540
Insurance contract liabilities for account of segregated fund holders (note 7) 114,143 110,216 130,836
Investment contract liabilities for account of segregated fund holders 263,401 238,346 268,952
Insurance and investment contract liabilities for account of segregated fund holders (note 23) 377,544 348,562 399,788
Total liabilities 826,847 785,463 881,328
Equity      
Contributed surplus 222 238 262
Shareholders and other equity holders' retained earnings 4,819 3,947 9,656
Shareholders and other equity holders' accumulated other comprehensive income (loss) ("AOCI"):      
Insurance finance income (expenses) 30,010 38,057 (17,117)
Reinsurance finance income (expenses) (4,634) (5,410) 984
Fair value through other comprehensive income ("OCI") investments (16,262) (24,645) 17,764
Translation of foreign operations 4,801 5,918 4,578
Other (104) (67) (246)
Total shareholders and other equity holders' equity 47,039 46,876 45,355
Participating policyholders' equity 257 (77) 101
Non-controlling interests 1,431 1,427 1,436
Total equity 48,727 48,226 46,892
Total liabilities and equity 875,574 833,689 928,220
Preferred shares and other equity [Member]      
Equity      
Issued shares (note 12) 6,660 6,660 6,381
Shareholders and other equity holders' accumulated other comprehensive income (loss) ("AOCI"):      
Total equity 6,660 6,660  
Common shares [Member]      
Equity      
Issued shares (note 12) 21,527 22,178 $ 23,093
Shareholders and other equity holders' accumulated other comprehensive income (loss) ("AOCI"):      
Total equity $ 21,527 $ 22,178