Insurance and Reinsurance Contract Assets and Liabilities - Investment Income and Insurance Finance Income and Expense (Detail) - CAD ($)
$ in Millions |
12 Months Ended |
Dec. 31, 2025 |
Dec. 31, 2024 |
| Investment return |
|
|
| Investment-related income |
$ 19,072
|
$ 17,482
|
| Net gains (losses) on financial assets at FVTPL |
7,189
|
1,851
|
| Unrealized gains (losses) on FVOCI assets |
2,082
|
(1,213)
|
| Impairment and recovery (loss) on financial assets |
(106)
|
109
|
| Investment expenses |
(1,342)
|
(1,348)
|
| Interest on required surplus |
0
|
0
|
| Total investment return |
26,895
|
16,881
|
| Portion recognized in income (expenses) |
23,947
|
19,111
|
| Portion recognized in OCI |
2,948
|
(2,230)
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Interest accreted to insurance contracts |
(11,278)
|
(10,257)
|
| Due to changes in interest rates and other financial assumptions |
(3,576)
|
10,132
|
| Changes in fair value of underlying items of direct participation contracts |
(9,875)
|
(5,231)
|
| Effects of risk mitigation option |
1,199
|
1,755
|
| Net foreign exchange income (expenses) |
(147)
|
(2)
|
| Hedge accounting offset from insurance contracts issued |
149
|
(128)
|
| Other |
116
|
394
|
| Total insurance finance income (expenses) from insurance contracts issued |
(25,496)
|
(6,631)
|
| Effects of movements in foreign exchange rates |
156
|
(1,417)
|
| Total insurance finance income (expenses) from insurance contracts issued and effect of movement in foreign exchange rates |
(25,340)
|
(8,048)
|
| Portion recognized in income (expenses), including effects of exchange rates |
(22,681)
|
(16,219)
|
| Portion recognized in OCI, including effects of exchange rates |
(2,659)
|
8,171
|
| Reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
|
|
| Interest accreted to insurance contracts |
2,370
|
2,135
|
| Due to changes in interest rates and other financial assumptions |
618
|
(3,882)
|
| Effect of changes in non-performance risk of reinsurers |
12
|
(57)
|
| Other |
(234)
|
(88)
|
| Total reinsurance finance income (expenses) from reinsurance contracts held |
2,766
|
(1,892)
|
| Effect of movements in foreign exchange rates |
(422)
|
243
|
| Total reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
2,344
|
(1,649)
|
| Portion recognized in income (expenses), including effects of foreign exchange rates |
1,694
|
1,133
|
| Portion recognized in OCI, including effects of exchange rates |
650
|
(2,782)
|
| Decrease (increase) in investment contract liabilities |
(551)
|
(504)
|
| Total net investment income (loss), insurance finance income (expenses) and reinsurance finance income (expenses) |
3,348
|
6,680
|
| Amounts recognized in income (expenses) |
2,409
|
3,521
|
| Amounts recognized in OCI |
939
|
3,159
|
| Cash flow hedges |
|
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Reclassification of derivative OCI to IFIE – cash flow hedges |
9
|
52
|
| Fair value hedges |
|
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Reclassification of derivative income (loss) changes to IFIE – fair value hedge |
(2,093)
|
(3,346)
|
| Insurance contracts issued |
|
|
| Investment return |
|
|
| Investment-related income |
15,938
|
14,214
|
| Net gains (losses) on financial assets at FVTPL |
7,044
|
1,788
|
| Unrealized gains (losses) on FVOCI assets |
1,561
|
5,590
|
| Impairment and recovery (loss) on financial assets |
(80)
|
137
|
| Investment expenses |
(633)
|
(644)
|
| Interest on required surplus |
670
|
672
|
| Total investment return |
24,500
|
21,757
|
| Portion recognized in income (expenses) |
22,113
|
16,489
|
| Portion recognized in OCI |
2,387
|
5,268
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Interest accreted to insurance contracts |
(11,309)
|
(10,283)
|
| Due to changes in interest rates and other financial assumptions |
(3,596)
|
10,199
|
| Changes in fair value of underlying items of direct participation contracts |
(9,875)
|
(5,231)
|
| Effects of risk mitigation option |
1,199
|
1,755
|
| Net foreign exchange income (expenses) |
(147)
|
(2)
|
| Hedge accounting offset from insurance contracts issued |
149
|
(128)
|
| Other |
116
|
394
|
| Total insurance finance income (expenses) from insurance contracts issued |
(25,547)
|
(6,590)
|
| Effects of movements in foreign exchange rates |
156
|
(1,417)
|
| Total insurance finance income (expenses) from insurance contracts issued and effect of movement in foreign exchange rates |
(25,391)
|
(8,007)
|
| Portion recognized in income (expenses), including effects of exchange rates |
(22,710)
|
(16,252)
|
| Portion recognized in OCI, including effects of exchange rates |
(2,681)
|
8,245
|
| Reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
|
|
| Interest accreted to insurance contracts |
2,370
|
2,135
|
| Due to changes in interest rates and other financial assumptions |
620
|
(3,886)
|
| Effect of changes in non-performance risk of reinsurers |
12
|
(57)
|
| Other |
(234)
|
(88)
|
| Total reinsurance finance income (expenses) from reinsurance contracts held |
2,768
|
(1,896)
|
| Effect of movements in foreign exchange rates |
(422)
|
243
|
| Total reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
2,346
|
(1,653)
|
| Portion recognized in income (expenses), including effects of foreign exchange rates |
1,694
|
1,133
|
| Portion recognized in OCI, including effects of exchange rates |
652
|
(2,786)
|
| Decrease (increase) in investment contract liabilities |
(2)
|
(6)
|
| Total net investment income (loss), insurance finance income (expenses) and reinsurance finance income (expenses) |
1,453
|
12,091
|
| Amounts recognized in income (expenses) |
1,095
|
1,364
|
| Amounts recognized in OCI |
358
|
10,727
|
| Insurance contracts issued | Cash flow hedges |
|
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Reclassification of derivative OCI to IFIE – cash flow hedges |
9
|
52
|
| Insurance contracts issued | Fair value hedges |
|
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Reclassification of derivative income (loss) changes to IFIE – fair value hedge |
(2,093)
|
(3,346)
|
| Non-insurance |
|
|
| Investment return |
|
|
| Investment-related income |
3,134
|
3,268
|
| Net gains (losses) on financial assets at FVTPL |
145
|
63
|
| Unrealized gains (losses) on FVOCI assets |
521
|
(6,803)
|
| Impairment and recovery (loss) on financial assets |
(26)
|
(28)
|
| Investment expenses |
(709)
|
(704)
|
| Interest on required surplus |
(670)
|
(672)
|
| Total investment return |
2,395
|
(4,876)
|
| Portion recognized in income (expenses) |
1,834
|
2,622
|
| Portion recognized in OCI |
561
|
(7,498)
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Interest accreted to insurance contracts |
31
|
26
|
| Due to changes in interest rates and other financial assumptions |
20
|
(67)
|
| Changes in fair value of underlying items of direct participation contracts |
0
|
0
|
| Effects of risk mitigation option |
0
|
0
|
| Net foreign exchange income (expenses) |
0
|
0
|
| Hedge accounting offset from insurance contracts issued |
0
|
0
|
| Other |
0
|
0
|
| Total insurance finance income (expenses) from insurance contracts issued |
51
|
(41)
|
| Effects of movements in foreign exchange rates |
0
|
0
|
| Total insurance finance income (expenses) from insurance contracts issued and effect of movement in foreign exchange rates |
51
|
(41)
|
| Portion recognized in income (expenses), including effects of exchange rates |
29
|
33
|
| Portion recognized in OCI, including effects of exchange rates |
22
|
(74)
|
| Reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
|
|
| Interest accreted to insurance contracts |
0
|
0
|
| Due to changes in interest rates and other financial assumptions |
(2)
|
4
|
| Effect of changes in non-performance risk of reinsurers |
0
|
0
|
| Other |
0
|
0
|
| Total reinsurance finance income (expenses) from reinsurance contracts held |
(2)
|
4
|
| Effect of movements in foreign exchange rates |
0
|
0
|
| Total reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
(2)
|
4
|
| Portion recognized in income (expenses), including effects of foreign exchange rates |
0
|
0
|
| Portion recognized in OCI, including effects of exchange rates |
(2)
|
4
|
| Decrease (increase) in investment contract liabilities |
(549)
|
(498)
|
| Total net investment income (loss), insurance finance income (expenses) and reinsurance finance income (expenses) |
1,895
|
(5,411)
|
| Amounts recognized in income (expenses) |
1,314
|
2,157
|
| Amounts recognized in OCI |
581
|
(7,568)
|
| Non-insurance | Cash flow hedges |
|
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Reclassification of derivative OCI to IFIE – cash flow hedges |
0
|
0
|
| Non-insurance | Fair value hedges |
|
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Reclassification of derivative income (loss) changes to IFIE – fair value hedge |
0
|
0
|
| Asia |
|
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Portion recognized in income (expenses), including effects of exchange rates |
(9,459)
|
(7,334)
|
| Asia | Insurance contracts issued |
|
|
| Investment return |
|
|
| Total investment return |
11,530
|
8,795
|
| Portion recognized in income (expenses) |
11,551
|
7,994
|
| Portion recognized in OCI |
(21)
|
801
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Total insurance finance income (expenses) from insurance contracts issued and effect of movement in foreign exchange rates |
(9,626)
|
(8,311)
|
| Portion recognized in income (expenses), including effects of exchange rates |
(9,458)
|
(7,334)
|
| Portion recognized in OCI, including effects of exchange rates |
(168)
|
(977)
|
| Reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
|
|
| Total reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
(409)
|
436
|
| Portion recognized in income (expenses), including effects of foreign exchange rates |
(104)
|
604
|
| Portion recognized in OCI, including effects of exchange rates |
(305)
|
(168)
|
| Canada |
|
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Portion recognized in income (expenses), including effects of exchange rates |
(4,355)
|
(3,650)
|
| Canada | Insurance contracts issued |
|
|
| Investment return |
|
|
| Total investment return |
4,164
|
9,405
|
| Portion recognized in income (expenses) |
4,216
|
3,529
|
| Portion recognized in OCI |
(52)
|
5,876
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Total insurance finance income (expenses) from insurance contracts issued and effect of movement in foreign exchange rates |
(3,345)
|
(3,177)
|
| Portion recognized in income (expenses), including effects of exchange rates |
(4,354)
|
(3,650)
|
| Portion recognized in OCI, including effects of exchange rates |
1,009
|
473
|
| Reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
|
|
| Total reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
(212)
|
406
|
| Portion recognized in income (expenses), including effects of foreign exchange rates |
251
|
347
|
| Portion recognized in OCI, including effects of exchange rates |
(463)
|
59
|
| U.S. |
|
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Portion recognized in income (expenses), including effects of exchange rates |
(8,895)
|
(5,278)
|
| U.S. | Insurance contracts issued |
|
|
| Investment return |
|
|
| Total investment return |
8,780
|
3,532
|
| Portion recognized in income (expenses) |
6,319
|
4,943
|
| Portion recognized in OCI |
2,461
|
(1,411)
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Total insurance finance income (expenses) from insurance contracts issued and effect of movement in foreign exchange rates |
(12,416)
|
3,471
|
| Portion recognized in income (expenses), including effects of exchange rates |
(8,894)
|
(5,278)
|
| Portion recognized in OCI, including effects of exchange rates |
(3,522)
|
8,749
|
| Reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
|
|
| Total reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
2,962
|
(2,492)
|
| Portion recognized in income (expenses), including effects of foreign exchange rates |
1,542
|
185
|
| Portion recognized in OCI, including effects of exchange rates |
1,420
|
(2,677)
|
| Corporate and Other |
|
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Portion recognized in income (expenses), including effects of exchange rates |
26
|
43
|
| Corporate and Other | Insurance contracts issued |
|
|
| Investment return |
|
|
| Total investment return |
26
|
25
|
| Portion recognized in income (expenses) |
27
|
23
|
| Portion recognized in OCI |
(1)
|
2
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Total insurance finance income (expenses) from insurance contracts issued and effect of movement in foreign exchange rates |
(4)
|
10
|
| Portion recognized in income (expenses), including effects of exchange rates |
(4)
|
10
|
| Portion recognized in OCI, including effects of exchange rates |
0
|
0
|
| Reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
|
|
| Total reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
5
|
(3)
|
| Portion recognized in income (expenses), including effects of foreign exchange rates |
5
|
(3)
|
| Portion recognized in OCI, including effects of exchange rates |
0
|
0
|
| Corporate and Other | Non-insurance |
|
|
| Investment return |
|
|
| Total investment return |
2,395
|
(4,876)
|
| Portion recognized in income (expenses) |
1,834
|
2,622
|
| Portion recognized in OCI |
561
|
(7,498)
|
| Insurance finance income (expenses) from insurance contracts issued and effect of movement in exchange rates |
|
|
| Total insurance finance income (expenses) from insurance contracts issued and effect of movement in foreign exchange rates |
51
|
(41)
|
| Portion recognized in income (expenses), including effects of exchange rates |
29
|
33
|
| Portion recognized in OCI, including effects of exchange rates |
22
|
(74)
|
| Reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
|
|
| Total reinsurance finance income (expenses) from reinsurance contracts held and effect of movement in foreign exchange rates |
(2)
|
4
|
| Portion recognized in income (expenses), including effects of foreign exchange rates |
0
|
0
|
| Portion recognized in OCI, including effects of exchange rates |
$ (2)
|
$ 4
|