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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2024
Commitments and Contingencies [Abstract] |
Summary of Condensed Consolidated Statements of Income Information for MFC and MFLP | Condensed Consolidated Statements of Income Information
For the year ended December 31, 2024 | MFC (Guarantor) | Subsidiaries on a combined basis | Consolidation adjustments | Total consolidated amounts |  | MFLP
Insurance service result | $- | $4,001 | $- | $4,001 |  | $-
Investment result | 871 | 4,329 | (1,679) | 3,521 |  | 52
Other revenue | (34) | 7,620 | 2 | 7,588 |  | 20
Net income (loss) attributed to shareholders and other equity holders | 5,385 | 4,910 | (4,910) | 5,385 |  | 26
For the year ended December 31, 2023 | MFC (Guarantor) | 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
Summary of Condensed Consolidated Statements of Financial Position for MFC and MFLP | Condensed Consolidated Statements of Financial Position
As at December 31, 2024 | MFC (Guarantor) | Subsidiaries on a combined basis | Consolidation adjustments | Total consolidated amounts |  | MFLP
Invested assets | $126 | $442,371 | $- | $442,497 |  | $16
Insurance contract assets | - | 102 | - | 102 |  | -
Reinsurance contract held assets | - | 59,015 | - | 59,015 |  | -
Total other assets | 65,898 | 46,450 | (71,132) | 41,216 |  | 995
Segregated funds net assets | - | 435,988 | - | 435,988 |  | -
Insurance contract liabilities, excluding those for account of segregated fund holders | - | 396,401 | - | 396,401 |  | -
Reinsurance contract held liabilities | - | 2,669 | - | 2,669 |  | -
Investment contract liabilities | - | 13,498 | - | 13,498 |  | -
Total other liabilities | 15,052 | 63,825 | (1,575) | 77,302 |  | 726
Insurance contract liabilities for account of segregated fund holders | - | 126,545 | - | 126,545 |  | -
Investment contract liabilities for account of segregated fund holders | - | 309,443 | - | 309,443 |  | -
As at December 31, 2023 | MFC (Guarantor) | 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 |  | -
Schedule of Pledged Assets | The amounts pledged are as follows.
| 2024 |  | 2023
As at December 31, | Debt securities | Other |  | Debt securities | Other
In respect of: |  |  |  |  |
Derivatives | $14,517 | $25 |  | $10,431 | $26
Secured borrowings(1) | - | 2,216 |  | - | 2,220
Regulatory requirements | 303 | 91 |  | 307 | 74
Repurchase agreements | 658 | - |  | 201 | -
Mortgages on ALDA properties | - | 284 |  | - | 278
Manulife Bank securitized mortgages(2) | - | 7,603 |  | - | 6,990
Non-registered retirement plans in trust | - | 286 |  | - | 298
Other | - | 289 |  | - | 283
Total | $15,478 | $10,794 |  | $10,939 | $10,169
(1)During the year, the Company pledged certain of its mortgage loans with the FHLBI. Of this amount, $1,098 (2023 – $998) is required collateral for the US$500 outstanding borrowing to JHUSA under the FHLBI facility; and $1,118 (2023 – $1,222) is excess collateral that can be called back by JHUSA at any time. (2)The Manulife Bank mortgage securitization program includes CMB securitization of $3,274 (2023 – $2,900), HELOC securitization, which includes restricted cash and short-term securities, of $3,163 (2023 – $2,912), and additional encumbrances of mortgages and cash required by the securitization program's operations of $1,166 (2023 – $1,178).

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