v3.25.4
Invested Assets and Investment Income - Carrying Values and Fair Values of Invested Assets (Details) - CAD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disclosure of financial assets [line items]      
Cash and short-term securities $ 26,703 $ 25,789 $ 20,338
Debt securities 214,114 210,621  
Public equities 40,971 33,725  
Mortgages 57,119 54,447  
Private placements 51,782 49,668  
Loans to Bank clients 2,735 2,310  
Real estate 12,682 13,263  
Other invested assets 53,822 52,674  
Total invested assets (note 3) 459,928 442,497  
Less than 1 year      
Disclosure of financial assets [line items]      
Cash and short-term securities 26,703 25,789  
Debt securities 1,842 1,266  
Public equities 0 0  
Mortgages 6,572 4,741  
Private placements 2,030 1,534  
Loans to Bank clients 46 47  
Total invested assets (note 3) 45,872 41,607  
Not later than ninety days      
Disclosure of financial assets [line items]      
Debt securities 236 145  
Total fair value      
Disclosure of financial assets [line items]      
Cash and short-term securities 26,703 25,789  
Public equities 40,971 33,725  
Mortgages 57,600 54,812  
Private placements 51,782 49,668  
Loans to Bank clients 2,699 2,285  
Total invested assets (note 3) 461,158 443,485  
Canadian government and agency      
Disclosure of financial assets [line items]      
Debt securities 18,674 19,727  
Canadian government and agency | Less than 1 year      
Disclosure of financial assets [line items]      
Debt securities 1,349 543  
Canadian government and agency | Total fair value      
Disclosure of financial assets [line items]      
Debt securities 18,674 19,727  
U.S. government and agency      
Disclosure of financial assets [line items]      
Debt securities 27,266 28,654  
U.S. government and agency | Less than 1 year      
Disclosure of financial assets [line items]      
Debt securities 160 644  
U.S. government and agency | Total fair value      
Disclosure of financial assets [line items]      
Debt securities 26,999 28,366  
Other government and agency      
Disclosure of financial assets [line items]      
Debt securities 37,482 35,470  
Other government and agency | Less than 1 year      
Disclosure of financial assets [line items]      
Debt securities 349 372  
Other government and agency | Total fair value      
Disclosure of financial assets [line items]      
Debt securities 37,482 35,470  
Corporate      
Disclosure of financial assets [line items]      
Debt securities 128,430 124,962  
Corporate | Less than 1 year      
Disclosure of financial assets [line items]      
Debt securities 8,522 7,810  
Corporate | Total fair value      
Disclosure of financial assets [line items]      
Debt securities 128,248 124,762  
Mortgage / asset-backed securities      
Disclosure of financial assets [line items]      
Debt securities 2,262 1,808  
Mortgage / asset-backed securities | Less than 1 year      
Disclosure of financial assets [line items]      
Debt securities 121 60  
Mortgage / asset-backed securities | Total fair value      
Disclosure of financial assets [line items]      
Debt securities 2,262 1,808  
Own use property      
Disclosure of financial assets [line items]      
Real estate 2,631 2,674  
Own use property | Accumulated depreciation      
Disclosure of financial assets [line items]      
Real estate (66) (65)  
Own use property | Less than 1 year      
Disclosure of financial assets [line items]      
Real estate 0 0  
Own use property | Total fair value      
Disclosure of financial assets [line items]      
Real estate 2,762 2,798  
Own use property | Total fair value | Insurance contracts with direct participating features      
Disclosure of financial assets [line items]      
Real estate 2,466 2,500  
Own use property | Carrying amount | Insurance contracts with direct participating features      
Disclosure of financial assets [line items]      
Real estate 165 174  
Investment property      
Disclosure of financial assets [line items]      
Real estate 10,051 10,589  
Investment property | Less than 1 year      
Disclosure of financial assets [line items]      
Real estate 0 0  
Investment property | Total fair value      
Disclosure of financial assets [line items]      
Real estate 10,051 10,589  
Alternative long-duration assets      
Disclosure of financial assets [line items]      
Other invested assets 49,029 47,863  
Alternative long-duration assets | Private equity investments      
Disclosure of financial assets [line items]      
Carrying value 18,466 18,343  
Alternative long-duration assets | Infrastructure      
Disclosure of financial assets [line items]      
Carrying value 18,629 17,804  
Alternative long-duration assets | Timber and agriculture      
Disclosure of financial assets [line items]      
Carrying value 6,012 5,917  
Alternative long-duration assets | Energy      
Disclosure of financial assets [line items]      
Carrying value 1,658 1,916  
Alternative long-duration assets | Various other      
Disclosure of financial assets [line items]      
Carrying value 4,264 3,883  
Alternative long-duration assets | Less than 1 year      
Disclosure of financial assets [line items]      
Other invested assets 0 67  
Alternative long-duration assets | Total fair value      
Disclosure of financial assets [line items]      
Other invested assets 50,132 48,875  
Various other      
Disclosure of financial assets [line items]      
Other invested assets 4,793 4,811  
Various other | Less than 1 year      
Disclosure of financial assets [line items]      
Other invested assets 20 0  
Various other | Total fair value      
Disclosure of financial assets [line items]      
Other invested assets 4,793 4,811  
SPPI Nonqualifying | Total fair value      
Disclosure of financial assets [line items]      
Debt securities 0 0  
Private placements 98 132  
Other invested assets 552 547  
Change in the fair value of invested assets 29 25  
Cash, cash equivalents and short term securities      
Disclosure of financial assets [line items]      
Short-term securities 11,791 10,121  
Cash equivalents 9,135 9,813  
Other      
Disclosure of financial assets [line items]      
Other invested assets 4,266 4,300  
FVTPL      
Disclosure of financial assets [line items]      
Cash and short-term securities 0 25  
Public equities 40,971 33,725  
Mortgages 1,351 1,239  
Private placements 953 866  
Loans to Bank clients 0 0  
Total invested assets (note 3) 82,601 74,289  
FVTPL | Canadian government and agency      
Disclosure of financial assets [line items]      
Debt securities 966 1,056  
FVTPL | U.S. government and agency      
Disclosure of financial assets [line items]      
Debt securities 39 58  
FVTPL | Other government and agency      
Disclosure of financial assets [line items]      
Debt securities 63 68  
FVTPL | Corporate      
Disclosure of financial assets [line items]      
Debt securities 2,742 2,761  
FVTPL | Mortgage / asset-backed securities      
Disclosure of financial assets [line items]      
Debt securities 270 17  
FVTPL | Own use property      
Disclosure of financial assets [line items]      
Real estate 0 0  
FVTPL | Investment property      
Disclosure of financial assets [line items]      
Real estate 0 0  
FVTPL | Alternative long-duration assets      
Disclosure of financial assets [line items]      
Other invested assets 35,101 34,334  
FVTPL | Various other      
Disclosure of financial assets [line items]      
Other invested assets 145 140  
FVOCI      
Disclosure of financial assets [line items]      
Cash and short-term securities 20,827 19,909  
Public equities 0 0  
Mortgages 28,589 28,792  
Private placements 50,829 48,802  
Loans to Bank clients 0 0  
Total invested assets (note 3) 309,526 303,058  
FVOCI | Canadian government and agency      
Disclosure of financial assets [line items]      
Debt securities 17,708 18,671  
FVOCI | U.S. government and agency      
Disclosure of financial assets [line items]      
Debt securities 26,595 27,628  
FVOCI | Other government and agency      
Disclosure of financial assets [line items]      
Debt securities 37,419 35,402  
FVOCI | Corporate      
Disclosure of financial assets [line items]      
Debt securities 125,184 121,674  
FVOCI | Mortgage / asset-backed securities      
Disclosure of financial assets [line items]      
Debt securities 1,992 1,791  
FVOCI | Own use property      
Disclosure of financial assets [line items]      
Real estate 0 0  
FVOCI | Investment property      
Disclosure of financial assets [line items]      
Real estate 0 0  
FVOCI | Alternative long-duration assets      
Disclosure of financial assets [line items]      
Other invested assets 383 389  
FVOCI | Various other      
Disclosure of financial assets [line items]      
Other invested assets 0 0  
Other      
Disclosure of financial assets [line items]      
Cash and short-term securities 5,876    
Public equities 0 0  
Mortgages 27,179 24,416  
Private placements 0 0  
Loans to Bank clients 2,735 2,310  
Total invested assets (note 3) 67,801 65,150  
Cash 5,777 5,855  
Other | Canadian government and agency      
Disclosure of financial assets [line items]      
Debt securities 0 0  
Other | U.S. government and agency      
Disclosure of financial assets [line items]      
Debt securities 632 968  
Other | Other government and agency      
Disclosure of financial assets [line items]      
Debt securities 0 0  
Other | Corporate      
Disclosure of financial assets [line items]      
Debt securities 504 527  
Other | Mortgage / asset-backed securities      
Disclosure of financial assets [line items]      
Debt securities 0 0  
Other | Own use property      
Disclosure of financial assets [line items]      
Real estate 2,631 2,674  
Other | Investment property      
Disclosure of financial assets [line items]      
Real estate 10,051 10,589  
Other | Alternative long-duration assets      
Disclosure of financial assets [line items]      
Other invested assets 13,545 13,140  
Other | Various other      
Disclosure of financial assets [line items]      
Other invested assets $ 4,648 $ 4,671