v3.25.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2025
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, 2025
MFC
(Guarantor)
Subsidiaries
on a combined
basis
Consolidation 
adjustments
Total
consolidated
amounts
MFLP
Insurance service result
$-
$4,526
$-
$4,526
$-
Investment result
757
3,206
(1,554)
2,409
50
Other revenue
24
8,116
(11)
8,129
(12)
Net income (loss) attributed to shareholders and other equity holders
5,572
5,172
(5,172)
5,572
(1)
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
Summary of Condensed Consolidated Statements of Financial Position for MFC and MFLP Condensed Consolidated Statements of Financial Position
As at December 31, 2025
MFC
(Guarantor)
Subsidiaries
on a combined
basis
Consolidation 
adjustments
Total
consolidated
amounts
MFLP
Invested assets
$1,399
$458,529
$-
$459,928
$20
Insurance contract assets
-
194
-
194
-
Reinsurance contract held assets
-
60,881
-
60,881
-
Total other assets
63,341
47,566
(67,731)
43,176
965
Segregated funds net assets
-
461,254
-
461,254
-
Insurance contract liabilities, excluding those for account of segregated
fund holders
-
411,532
-
411,532
-
Reinsurance contract held liabilities
-
3,273
-
3,273
-
Investment contract liabilities
-
14,137
-
14,137
-
Total other liabilities
14,618
68,845
(714)
82,749
701
Insurance contract liabilities for account of segregated fund holders
-
129,006
-
129,006
-
Investment contract liabilities for account of segregated fund holders
-
332,248
-
332,248
-
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
-
Schedule of Pledged Assets The amounts pledged are as follows.
2025
2024
As at December 31,
Debt securities
Other
Debt securities
Other
In respect of:
Derivatives
$14,360
$129
$14,517
$25
Secured borrowings(1)
786
331
-
2,216
Regulatory requirements
1,771
93
303
91
Repurchase agreements
193
-
658
-
Mortgages on ALDA properties
-
351
-
284
Manulife Bank securitized mortgages(2)
-
8,193
-
7,603
Non-registered retirement plans in trust
-
276
-
286
Other
-
262
-
289
Total
$17,110
$9,635
$15,478
$10,794
(1)During the year, the Company pledged debt securities of $786 (2024 – $nil) and mortgage loans of $331 (2024 – $2,216) to FHLBI totalling $1,117 (2024 –
$2,216). Of this amount, $788 (2024 – $1,098) is required collateral for the US$500 (2024 – US$500) outstanding borrowing to JHUSA under the FHLBI facility;
and $329 (2024 – $1,118) is excess collateral that can be called back by JHUSA at any time.
(2)Pledged assets under the Manulife Bank mortgage securitization program totaled $8,193 (2024 – $7,603), comprising CMB securitization of $2,984 (2024 –
$3,274), HELOC securitization of $3,673 (2024 – $3,163), additional encumbrances of mortgages and cash required by the securitization program's operations of
$1,162 (2024 – $1,166) and encumbrances on mortgages from mortgage backed securities sold to third parties of $374 (2024 – $nil).