v3.25.4
Invested Assets and Investment Income - Remaining Term to Maturity (Details) - CAD ($)
$ in Millions
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  
Canadian government and agency      
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  
Other government and agency      
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  
Mortgage / asset-backed securities      
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  
Investment property      
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  
Various other      
Disclosure of financial assets [line items]      
Other invested assets 4,793 4,811  
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  
Less than 1 year | Canadian government and agency      
Disclosure of financial assets [line items]      
Debt securities 1,349 543  
Less than 1 year | U.S. government and agency      
Disclosure of financial assets [line items]      
Debt securities 160 644  
Less than 1 year | Other government and agency      
Disclosure of financial assets [line items]      
Debt securities 349 372  
Less than 1 year | Corporate      
Disclosure of financial assets [line items]      
Debt securities 8,522 7,810  
Less than 1 year | Mortgage / asset-backed securities      
Disclosure of financial assets [line items]      
Debt securities 121 60  
Less than 1 year | Own use property      
Disclosure of financial assets [line items]      
Real estate 0 0  
Less than 1 year | Investment property      
Disclosure of financial assets [line items]      
Real estate 0 0  
Less than 1 year | Alternative long-duration assets      
Disclosure of financial assets [line items]      
Other invested assets 0 67  
Less than 1 year | Various other      
Disclosure of financial assets [line items]      
Other invested assets 20 0  
1 to 3 years      
Disclosure of financial assets [line items]      
Cash and short-term securities 0 0  
Public equities 0 0  
Mortgages 12,099 11,944  
Private placements 6,001 5,093  
Loans to Bank clients 9 13  
Total invested assets (note 3) 36,892 37,223  
1 to 3 years | Canadian government and agency      
Disclosure of financial assets [line items]      
Debt securities 1,082 2,282  
1 to 3 years | U.S. government and agency      
Disclosure of financial assets [line items]      
Debt securities 798 640  
1 to 3 years | Other government and agency      
Disclosure of financial assets [line items]      
Debt securities 1,054 1,208  
1 to 3 years | Corporate      
Disclosure of financial assets [line items]      
Debt securities 15,619 15,763  
1 to 3 years | Mortgage / asset-backed securities      
Disclosure of financial assets [line items]      
Debt securities 212 260  
1 to 3 years | Own use property      
Disclosure of financial assets [line items]      
Real estate 0 0  
1 to 3 years | Investment property      
Disclosure of financial assets [line items]      
Real estate 0 0  
1 to 3 years | Alternative long-duration assets      
Disclosure of financial assets [line items]      
Other invested assets 18 0  
1 to 3 years | Various other      
Disclosure of financial assets [line items]      
Other invested assets 0 20  
3 to 5 years      
Disclosure of financial assets [line items]      
Cash and short-term securities 0 0  
Public equities 0 0  
Mortgages 9,922 10,478  
Private placements 5,197 4,986  
Loans to Bank clients 4 3  
Total invested assets (note 3) 35,031 34,789  
3 to 5 years | Canadian government and agency      
Disclosure of financial assets [line items]      
Debt securities 779 678  
3 to 5 years | U.S. government and agency      
Disclosure of financial assets [line items]      
Debt securities 1,619 1,473  
3 to 5 years | Other government and agency      
Disclosure of financial assets [line items]      
Debt securities 804 1,056  
3 to 5 years | Corporate      
Disclosure of financial assets [line items]      
Debt securities 16,387 15,817  
3 to 5 years | Mortgage / asset-backed securities      
Disclosure of financial assets [line items]      
Debt securities 215 213  
3 to 5 years | Own use property      
Disclosure of financial assets [line items]      
Real estate 0 0  
3 to 5 years | Investment property      
Disclosure of financial assets [line items]      
Real estate 0 0  
3 to 5 years | Alternative long-duration assets      
Disclosure of financial assets [line items]      
Other invested assets 104 85  
3 to 5 years | Various other      
Disclosure of financial assets [line items]      
Other invested assets 0 0  
5 to 10 years      
Disclosure of financial assets [line items]      
Cash and short-term securities 0 0  
Public equities 0 0  
Mortgages 6,825 7,617  
Private placements 10,796 10,463  
Loans to Bank clients 0 0  
Total invested assets (note 3) 67,744 67,851  
5 to 10 years | Canadian government and agency      
Disclosure of financial assets [line items]      
Debt securities 3,888 3,339  
5 to 10 years | U.S. government and agency      
Disclosure of financial assets [line items]      
Debt securities 2,625 4,699  
5 to 10 years | Other government and agency      
Disclosure of financial assets [line items]      
Debt securities 3,155 3,566  
5 to 10 years | Corporate      
Disclosure of financial assets [line items]      
Debt securities 36,055 33,818  
5 to 10 years | Mortgage / asset-backed securities      
Disclosure of financial assets [line items]      
Debt securities 388 450  
5 to 10 years | Own use property      
Disclosure of financial assets [line items]      
Real estate 0 0  
5 to 10 years | Investment property      
Disclosure of financial assets [line items]      
Real estate 0 0  
5 to 10 years | Alternative long-duration assets      
Disclosure of financial assets [line items]      
Other invested assets 287 276  
5 to 10 years | Various other      
Disclosure of financial assets [line items]      
Other invested assets 3,725 3,623  
Over 10 years      
Disclosure of financial assets [line items]      
Cash and short-term securities 0 0  
Public equities 0 0  
Mortgages 10,288 9,876  
Private placements 27,718 27,500  
Loans to Bank clients 0 0  
Total invested assets (note 3) 157,964 154,487  
Over 10 years | Canadian government and agency      
Disclosure of financial assets [line items]      
Debt securities 11,576 12,885  
Over 10 years | U.S. government and agency      
Disclosure of financial assets [line items]      
Debt securities 22,064 21,198  
Over 10 years | Other government and agency      
Disclosure of financial assets [line items]      
Debt securities 32,120 29,268  
Over 10 years | Corporate      
Disclosure of financial assets [line items]      
Debt securities 51,847 51,754  
Over 10 years | Mortgage / asset-backed securities      
Disclosure of financial assets [line items]      
Debt securities 1,326 825  
Over 10 years | Own use property      
Disclosure of financial assets [line items]      
Real estate 0 0  
Over 10 years | Investment property      
Disclosure of financial assets [line items]      
Real estate 0 0  
Over 10 years | Alternative long-duration assets      
Disclosure of financial assets [line items]      
Other invested assets 504 524  
Over 10 years | Various other      
Disclosure of financial assets [line items]      
Other invested assets 521 657  
With no specific maturity      
Disclosure of financial assets [line items]      
Cash and short-term securities 0 0  
Public equities 40,971 33,725  
Mortgages 11,413 9,791  
Private placements 40 92  
Loans to Bank clients 2,676 2,247  
Total invested assets (note 3) 116,425 106,540  
With no specific maturity | Canadian government and agency      
Disclosure of financial assets [line items]      
Debt securities 0 0  
With no specific maturity | U.S. government and agency      
Disclosure of financial assets [line items]      
Debt securities 0 0  
With no specific maturity | Other government and agency      
Disclosure of financial assets [line items]      
Debt securities 0 0  
With no specific maturity | Corporate      
Disclosure of financial assets [line items]      
Debt securities 0 0  
With no specific maturity | Mortgage / asset-backed securities      
Disclosure of financial assets [line items]      
Debt securities 0 0  
With no specific maturity | Own use property      
Disclosure of financial assets [line items]      
Real estate 2,631 2,674  
With no specific maturity | Investment property      
Disclosure of financial assets [line items]      
Real estate 10,051 10,589  
With no specific maturity | Alternative long-duration assets      
Disclosure of financial assets [line items]      
Other invested assets 48,116 46,911  
With no specific maturity | Various other      
Disclosure of financial assets [line items]      
Other invested assets $ 527 $ 511