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Invested Assets and Investment Income - Movement in Invested Assets, Net Derivatives and Segregated Funds Net Assets Measured at Fair Value (Details) - CAD ($) $ in Millions | 12 Months Ended
--- | ---
Dec. 31, 2024 | Dec. 31, 2023
Level 3 |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | $ 85,391 | $ 83,721
Total gains (losses) included in net income | (1,303) | (964)
Total gains (losses) included in AOCI | 106 | 1,099
Purchases | 10,367 | 9,626
Sales | (6,702) | (3,472)
Settlements | (3,224) | (2,315)
Transfer in | 287 | 2,605
Transfer out | 651 | (2,939)
Currency movement | 5,066 | (1,970)
Assets at end of period | 90,639 | 85,391
Change in unrealized gains (losses) on assets still held | (1,488) | (549)
Level 3 | Other invested assets |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 33,585 | 31,069
Total gains (losses) included in net income | 1,502 | 423
Total gains (losses) included in AOCI | 14 | 7
Purchases | 4,308 | 4,760
Sales | (2,007) | (522)
Settlements | (1,187) | (1,219)
Transfer in | 0 | 0
Transfer out | 0 | (68)
Currency movement | 2,251 | (865)
Assets at end of period | 38,466 | 33,585
Change in unrealized gains (losses) on assets still held | 1,251 | 647
Level 3 | Derivatives |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | (2,166) | (3,188)
Total gains (losses) included in net income | (2,248) | (144)
Total gains (losses) included in AOCI | 0 | 0
Purchases | 0 | 0
Sales | 0 | 0
Settlements | (166) | 960
Transfer in | 0 | 0
Transfer out | 1,509 | 165
Currency movement | (164) | 41
Assets at end of period | (3,235) | (2,166)
Change in unrealized gains (losses) on assets still held | (2,065) | 17
Level 3 | Segregated Funds Net Assets |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 3,492 | 3,985
Total gains (losses) included in net income | 119 | (97)
Total gains (losses) included in AOCI | (67) | 0
Purchases | 148 | 110
Sales | (527) | (466)
Settlements | 17 | 24
Transfer in | 0 | 0
Transfer out | 0 | (15)
Currency movement | 152 | (49)
Assets at end of period | 3,334 | 3,492
Change in unrealized gains (losses) on assets still held | (76) | 32
Level 3 | FVOCI | Private placements |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 7,682 | 7,828
Total gains (losses) included in net income | (47) | (4)
Total gains (losses) included in AOCI | 50 | 258
Purchases | 3,039 | 1,942
Sales | (1,115) | (497)
Settlements | (1,040) | (1,172)
Transfer in | 254 | 2,546
Transfer out | (624) | (2,907)
Currency movement | 565 | (312)
Assets at end of period | 8,764 | 7,682
Change in unrealized gains (losses) on assets still held | 0 | 0
Level 3 | FVOCI | Mortgages |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 28,473 | 28,621
Total gains (losses) included in net income | (73) | 65
Total gains (losses) included in AOCI | 109 | 830
Purchases | 2,243 | 1,984
Sales | (2,834) | (1,626)
Settlements | (763) | (856)
Transfer in | 0 | 0
Transfer out | 0 | 0
Currency movement | 1,637 | (545)
Assets at end of period | 28,792 | 28,473
Change in unrealized gains (losses) on assets still held | 0 | 0
Level 3 | FVTPL | Public equities |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 41 | 71
Total gains (losses) included in net income | (3) | 0
Total gains (losses) included in AOCI | 0 | 0
Purchases | 0 | 37
Sales | (1) | 0
Settlements | 0 | 0
Transfer in | 0 | 0
Transfer out | (36) | (67)
Currency movement | (1) | 0
Assets at end of period | 0 | 41
Change in unrealized gains (losses) on assets still held | (3) | 0
Level 3 | FVTPL | Private placements |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 79 | 31
Total gains (losses) included in net income | 1 | 44
Total gains (losses) included in AOCI | 0 | 0
Purchases | 49 | 17
Sales | 0 | 0
Settlements | (13) | (1)
Transfer in | 29 | 34
Transfer out | (14) | (47)
Currency movement | 5 | 1
Assets at end of period | 136 | 79
Change in unrealized gains (losses) on assets still held | 1 | 44
Level 3 | FVTPL | Mortgages |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 1,055 | 1,138
Total gains (losses) included in net income | 32 | 37
Total gains (losses) included in AOCI | 0 | 0
Purchases | 339 | 160
Sales | (152) | (239)
Settlements | (38) | (39)
Transfer in | 0 | 0
Transfer out | 0 | 0
Currency movement | 3 | (2)
Assets at end of period | 1,239 | 1,055
Change in unrealized gains (losses) on assets still held | 0 | 0
Other government and agency | Level 3 | FVOCI | Debt securities |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 10 | 9
Total gains (losses) included in net income | 0 | 0
Total gains (losses) included in AOCI | 0 | 0
Purchases | 0 | 2
Sales | 0 | 0
Settlements | (5) | 0
Transfer in | 4 | 0
Transfer out | 0 | 0
Currency movement | 1 | (1)
Assets at end of period | 10 | 10
Change in unrealized gains (losses) on assets still held | 0 | 0
Corporate | Level 3 | FVOCI | Debt securities |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 231 | 32
Total gains (losses) included in net income | 0 | 0
Total gains (losses) included in AOCI | (33) | 3
Purchases | 0 | 178
Sales | 0 | 0
Settlements | (7) | (7)
Transfer in | 0 | 25
Transfer out | (151) | 0
Currency movement | 4 | 0
Assets at end of period | 44 | 231
Change in unrealized gains (losses) on assets still held | 0 | 0
Other securitized assets | Level 3 | FVOCI | Debt securities |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 21 | 26
Total gains (losses) included in net income | 0 | 0
Total gains (losses) included in AOCI | 33 | 1
Purchases | 0 | 0
Sales | 0 | 0
Settlements | (22) | (5)
Transfer in | 0 | 0
Transfer out | (33) | 0
Currency movement | 1 | (1)
Assets at end of period | 0 | 21
Change in unrealized gains (losses) on assets still held | 0 | 0
Investment property | Level 3 |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 10,458 | 11,417
Total gains (losses) included in net income | (504) | (1,054)
Total gains (losses) included in AOCI | 0 | 0
Purchases | 222 | 416
Sales | (66) | (122)
Settlements | 0 | 0
Transfer in | 0 | 0
Transfer out | 0 | 0
Currency movement | 479 | (199)
Assets at end of period | 10,589 | 10,458
Change in unrealized gains (losses) on assets still held | (514) | (1,055)
Own use property | Level 3 |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 2,430 | 2,682
Total gains (losses) included in net income | (82) | (234)
Total gains (losses) included in AOCI | 0 | 0
Purchases | 19 | 20
Sales | 0 | 0
Settlements | 0 | 0
Transfer in | 0 | 0
Transfer out | 0 | 0
Currency movement | 133 | (38)
Assets at end of period | 2,500 | 2,430
Change in unrealized gains (losses) on assets still held | (82) | (234)
Invested Assets | Level 3 |  |
Disclosure of financial assets [line items] |  |
Assets at beginning of period | 84,065 | 82,924
Total gains (losses) included in net income | 826 | (723)
Total gains (losses) included in AOCI | 173 | 1,099
Purchases | 10,219 | 9,516
Sales | (6,175) | (3,006)
Settlements | (3,075) | (3,299)
Transfer in | 287 | 2,605
Transfer out | (858) | (3,089)
Currency movement | 5,078 | (1,962)
Assets at end of period | 90,540 | 84,065
Change in unrealized gains (losses) on assets still held | $ 653 | (598)
Private Placement Bonds | Beyond Thirty Years | Level 2 |  |
Disclosure of financial assets [line items] |  |
Transfer out |  | $ (1,771)

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