v3.25.4
Investment Contract Liabilities (Tables)
12 Months Ended
Dec. 31, 2025
Investment Contract Liabilities [Abstract]  
Summary of Movement in Investment Contract Liabilities Measured at Fair Value The following table presents the movement in investment contract liabilities measured at fair value.
For the years ended December 31,
2025
2024
Balance, excluding those for account of segregated fund holders, January 1
$808
$749
New contracts
125
70
Changes in market conditions
177
67
Redemptions, surrenders and maturities
(159)
(154)
Impact of changes in foreign exchange rates
(43)
76
Balance, excluding those for account of segregated fund holders, December 31
908
808
Investment contract liabilities for account of segregated fund holders
332,248
309,443
Balance, December 31
$333,156
$310,251
Summary of Investment Contract Liabilities Measured at Amortized Cost and Fair Value Associated with these Contracts The following table presents carrying and fair values of investment contract liabilities measured at amortized cost, by reporting
segment.
2025
2024
As at December 31,
Amortized cost
Fair value
Amortized cost
Fair value
Asia
$229
$222
$325
$315
Canada
7,320
7,287
7,571
7,548
U.S.
1,240
1,235
1,406
1,375
GWAM
4,440
4,807
3,388
3,557
Investment contract liabilities
$13,229
$13,551
$12,690
$12,795
Summary of Changes in Investment Contract Liabilities Measured at Amortized Cost The following table presents the movement in investment contract liabilities measured at amortized cost, by business activity.
For the years ended December 31,
2025
2024
Balance, January 1
$12,690
$11,067
Policy deposits
2,887
3,218
Interest
337
316
Withdrawals
(2,443)
(2,240)
Fees
(1)
-
Impact of changes in foreign exchange rates
(246)
351
Other
5
(22)
Balance, December 31
$13,229
$12,690
Summary of Contractual Obligations and Commitments Relating to Investment Contracts The following table presents the Company’s contractual obligations and commitments relating to investment contract liabilities
including those for account of segregated fund holders as at December 31, 2025 and 2024.
Investment contract liabilities(1)
As at December 31,
Payments due by period
Less than 1
year(2)
1 to 3 years
3 to 5 years
Over 5
years
Total
2025
$340,567
$2,372
$1,183
$3,375
$347,497
2024
316,119
2,766
1,170
2,738
322,793
(1)Due to the nature of the products, the timing of net cash flows may be before contract maturity. Cash flows are undiscounted.
(2)Includes amounts which have no specific maturity, being payable on demand.