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Segmented Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segmented Information [Abstract] |
Summary of Results by Segments | The following tables present results by reporting segments.
For the year ended December 31, 2024 | Asia | Canada | U.S. | Global WAM | Corporate and Other | Total
Insurance service result |  |  |  |  |  |
Life, health and property and casualty insurance | $2,228 | $1,081 | $241 | $- | $164 | $3,714
Annuities and pensions | (68) | 239 | 116 | - | - | 287
Total insurance service result | 2,160 | 1,320 | 357 | - | 164 | 4,001
Net investment income (loss) | 7,987 | 5,169 | 4,962 | (655) | 1,648 | 19,111
Insurance finance income (expenses) |  |  |  |  |  |
Life, health and property and casualty insurance | (5,495) | (3,846) | (5,450) | - | 43 | (14,748)
Annuities and pensions | (1,839) | 196 | 172 | - | - | (1,471)
Total insurance finance income (expenses) | (7,334) | (3,650) | (5,278) | - | 43 | (16,219)
Reinsurance finance income (expenses) |  |  |  |  |  |
Life, health and property and casualty insurance | (65) | 347 | 705 | - | (2) | 985
Annuities and pensions | 669 | (1) | (520) | - | - | 148
Total reinsurance finance income (expenses) | 604 | 346 | 185 | - | (2) | 1,133
Decrease (increase) in investment contract liabilities | (9) | (76) | (87) | (327) | (5) | (504)
Net segregated fund investment result | - | - | - | - | - | -
Total investment result | 1,248 | 1,789 | (218) | (982) | 1,684 | 3,521
Other revenue | 155 | 294 | 137 | 7,439 | (437) | 7,588
Other expenses | (338) | (677) | (131) | (4,703) | (490) | (6,339)
Interest expenses | (28) | (1,047) | (13) | (7) | (586) | (1,681)
Net income (loss) before income taxes | 3,197 | 1,679 | 132 | 1,747 | 335 | 7,090
Income tax (expenses) recoveries | (460) | (353) | 3 | (148) | (254) | (1,212)
Net income (loss) | 2,737 | 1,326 | 135 | 1,599 | 81 | 5,878
Less net income (loss) attributed to: |  |  |  |  |  |
Non-controlling interests | 241 | - | - | 2 | 4 | 247
Participating policyholders | 141 | 105 | - | - | - | 246
Net income (loss) attributed to shareholders and other equity holders | $2,355 | $1,221 | $135 | $1,597 | $77 | $5,385
Total assets | $209,623 | $158,803 | $263,736 | $305,968 | $40,688 | $978,818
For the year ended December 31, 2023 | Asia | Canada | U.S. | Global WAM | Corporate and Other | Total
Insurance service result |  |  |  |  |  |
Life, health and property and casualty insurance | $2,070 | $995 | $526 | $- | $236 | $3,827
Annuities and pensions | (129) | 198 | 81 | - | - | 150
Total insurance service result | 1,941 | 1,193 | 607 | - | 236 | 3,977
Net investment income (loss) | 7,057 | 5,048 | 5,236 | (771) | 1,451 | 18,021
Insurance finance income (expenses) |  |  |  |  |  |
Life, health and property and casualty insurance | (4,970) | (3,288) | (4,815) | - | 723 | (12,350)
Annuities and pensions | (1,466) | (27) | (51) | - | - | (1,544)
Total insurance finance income (expenses) | (6,436) | (3,315) | (4,866) | - | 723 | (13,894)
Reinsurance finance income (expenses) |  |  |  |  |  |
Life, health and property and casualty insurance | (106) | 58 | 385 | - | (697) | (360)
Annuities and pensions | 1 | (1) | (374) | - | - | (374)
Total reinsurance finance income (expenses) | (105) | 57 | 11 | - | (697) | (734)
Decrease (increase) in investment contract liabilities | (38) | (73) | (148) | (175) | (1) | (435)
Net segregated fund investment result | - | - | - | - | - | -
Total investment result | 478 | 1,717 | 233 | (946) | 1,476 | 2,958
Other revenue | 67 | 272 | 79 | 6,709 | (381) | 6,746
Other expenses | (231) | (569) | (153) | (4,252) | (470) | (5,675)
Interest expenses | (11) | (1,004) | (15) | (14) | (510) | (1,554)
Net income (loss) before income taxes | 2,244 | 1,609 | 751 | 1,497 | 351 | 6,452
Income tax (expenses) recoveries | (440) | (373) | (112) | (198) | 278 | (845)
Net income (loss) | 1,804 | 1,236 | 639 | 1,299 | 629 | 5,607
Less net income (loss) attributed to: |  |  |  |  |  |
Non-controlling interests | 141 | - | - | 2 | 1 | 144
Participating policyholders | 315 | 45 | - | - | - | 360
Net income (loss) attributed to shareholders and other equity holders | $1,348 | $1,191 | $639 | $1,297 | $628 | $5,103
Total assets | $177,623 | $157,111 | $244,659 | $257,764 | $38,417 | $875,574
Summary of Results by Geographic Location | The following tables present results by geographical location.
For the year ended December 31, 2024 | Asia | Canada | U.S. | Other | Total
Insurance service result |  |  |  |  |
Life, health and property and casualty insurance | $2,230 | $1,075 | $235 | $174 | $3,714
Annuities and pensions | (68) | 239 | 116 | - | 287
Total insurance service result | 2,162 | 1,314 | 351 | 174 | 4,001
Net investment income (loss) | 8,052 | 5,882 | 5,118 | 59 | 19,111
Insurance finance income (expenses) |  |  |  |  |
Life, health and property and casualty insurance | (5,495) | (3,844) | (5,409) | - | (14,748)
Annuities and pensions | (1,839) | 196 | 172 | - | (1,471)
Total insurance finance income (expenses) | (7,334) | (3,648) | (5,237) | - | (16,219)
Reinsurance finance income (expenses) |  |  |  |  |
Life, health and property and casualty insurance | (65) | 344 | 706 | - | 985
Annuities and pensions | 669 | (1) | (520) | - | 148
Total reinsurance finance income (expenses) | 604 | 343 | 186 | - | 1,133
Decrease (increase) in investment contract liabilities | (187) | (163) | (149) | (5) | (504)
Net segregated fund investment result | - | - | - | - | -
Total investment result | $1,135 | $2,414 | $(82) | $54 | $3,521
Other revenue | $1,790 | $2,325 | $3,616 | $(143) | $7,588
For the year ended December 31, 2023 | Asia | Canada | U.S. | Other | Total
Insurance service result |  |  |  |  |
Life, health and property and casualty insurance | $2,087 | $981 | $511 | $248 | $3,827
Annuities and pensions | (128) | 198 | 80 | - | 150
Total insurance service result | 1,959 | 1,179 | 591 | 248 | 3,977
Net investment income (loss) | 7,259 | 5,724 | 4,975 | 63 | 18,021
Insurance finance income (expenses) |  |  |  |  |
Life, health and property and casualty insurance | (4,971) | (2,606) | (4,793) | 20 | (12,350)
Annuities and pensions | (1,466) | (27) | (51) | - | (1,544)
Total insurance finance income (expenses) | (6,437) | (2,633) | (4,844) | 20 | (13,894)
Reinsurance finance income (expenses) |  |  |  |  |
Life, health and property and casualty insurance | (121) | (623) | 384 | - | (360)
Annuities and pensions | 1 | (1) | (374) | - | (374)
Total reinsurance finance income (expenses) | (120) | (624) | 10 | - | (734)
Decrease (increase) in investment contract liabilities | (220) | (130) | (79) | (6) | (435)
Net segregated fund investment result | - | - | - | - | -
Total investment result | $482 | $2,337 | $62 | $77 | $2,958
Other revenue | $1,332 | $2,147 | $3,239 | $28 | $6,746

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