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Consolidated Statements of Financial Position - CAD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and short-term securities $ 25,789 $ 20,338
Debt securities 210,621 212,149
Public equities 33,725 25,531
Mortgages 54,447 52,421
Private placements 49,668 45,606
Loans to Bank clients 2,310 2,436
Real estate 13,263 13,049
Other invested assets 52,674 45,680
Total invested assets 442,497 417,210
Other assets    
Accrued investment income 2,969 2,678
Derivatives (note 4) 8,667 8,546
Insurance contract assets (note 6) 102 145
Reinsurance contract held assets (note 6) 59,015 42,651
Deferred tax assets 5,884 6,739
Goodwill and intangible assets (note 5) 11,052 10,310
Miscellaneous 12,644 9,751
Total other assets 100,333 80,820
Segregated funds net assets (note 22) 435,988 377,544
Total assets 978,818 875,574
Liabilities    
Insurance contract liabilities, excluding those for account of segregated fund holders (note 6) 396,401 367,996
Reinsurance contract held liabilities (note 6) 2,669 2,831
Investment contract liabilities (note 7) 13,498 11,816
Deposits from Bank clients 22,063 21,616
Derivatives (note 4) 14,252 11,730
Deferred tax liabilities 1,890 1,697
Other liabilities 24,936 18,879
Long-term debt (note 9) 6,629 6,071
Capital instruments (note 10) 7,532 6,667
Total liabilities, excluding those for account of segregated fund holders 489,870 449,303
Insurance contract liabilities for account of segregated fund holders (note 6) 126,545 114,143
Investment contract liabilities for account of segregated fund holders 309,443 263,401
Insurance and investment contract liabilities for account of segregated fund holders (note 22) 435,988 377,544
Total liabilities 925,858 826,847
Equity    
Contributed surplus 204 222
Shareholders and other equity holders’ retained earnings 4,764 4,819
Shareholders and other equity holders’ accumulated other comprehensive income (loss) (“AOCI”):    
Insurance finance income (expenses) 37,999 30,010
Reinsurance finance income (expenses) (7,048) (4,634)
Fair value through other comprehensive income (“OCI”) investments (19,733) (16,262)
Total 7,327 4,801
Other 118 (104)
Total shareholders and other equity holders’ equity 50,972 47,039
Participating policyholders’ equity 567 257
Non-controlling interests 1,421 1,431
Total equity 52,960 48,727
Total liabilities and equity 978,818 875,574
Preferred shares and other equity    
Equity    
Issued shares (note 11) 6,660 6,660
Shareholders and other equity holders’ accumulated other comprehensive income (loss) (“AOCI”):    
Total equity 6,660 6,660
Common shares    
Equity    
Issued shares (note 11) 20,681 21,527
Shareholders and other equity holders’ accumulated other comprehensive income (loss) (“AOCI”):    
Total equity $ 20,681 $ 21,527