Manulife Financial (MFC) 40-F 7 Feb 18 2017 FY Annual report (Canada) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2017shares
Document Information [Line Items]
Document Type	40-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Trading Symbol	MFC
Entity Registrant Name	MANULIFE FINANCIAL CORP
Entity Central Index Key	1,086,888
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Common shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	1,981,836,232
Class A Shares Series 2 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	14,000,000
Class A Shares Series 3 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	12,000,000
Class 1 Shares Series 3 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	6,335,831
Class 1 Shares Series 4 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	1,664,169
Class 1 Shares Series 5 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	8,000,000
Class 1 Shares Series 7 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	10,000,000
Class 1 Shares Series 9 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	10,000,000
Class 1 Shares Series 11 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	8,000,000
Class 1 Shares Series 13 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	8,000,000
Class 1 Shares Series 15 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	8,000,000
Class 1 Shares Series 17 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	14,000,000
Class 1 Shares Series 19 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	10,000,000
Class 1 Shares Series 21 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	17,000,000
Class 1 Shares Series 23 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	19,000,000

Consolidated Statements of Fina

Consolidated Statements of Financial Position - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Assets
Cash and short-term securities	CAD 15,965	CAD 15,151
Debt securities	174,000	168,622
Public equities	21,545	19,496
Mortgages	44,742	44,193
Private placements	32,132	29,729
Policy loans	5,808	6,041
Loans to bank clients	1,737	1,745
Real estate	13,810	14,132
Other invested assets	24,483	22,760
Total invested assets (note 4)	334,222	321,869
Other assets
Accrued investment income	2,182	2,260
Outstanding premiums	1,148	845
Derivatives (note 5)	15,569	23,672
Reinsurance assets (note 8)	30,359	34,952
Deferred tax assets (note 6)	4,569	4,439
Goodwill and intangible assets (note 7)	9,840	10,107
Miscellaneous	7,337	7,360
Total other assets	71,004	83,635
Segregated funds net assets (note 22)	324,307	315,177
Total assets	729,533	720,681
Liabilities
Insurance contract liabilities (note 8)	304,605	297,505
Investment contract liabilities (note 9)	3,126	3,275
Deposits from bank clients	18,131	17,919
Derivatives (note 5)	7,822	14,151
Deferred tax liabilities (note 6)	1,281	1,359
Other liabilities	14,926	15,596
Financial liabilities	349,891	349,805
Long-term debt (note 11)	4,785	5,696
Capital instruments (note 12)	8,387	7,180
Segregated funds net liabilities (note 22)	324,307	315,177
Total liabilities	687,370	677,858
Equity
Contributed surplus	277	284
Shareholders' retained earnings	10,083	9,759
Shareholders' accumulated other comprehensive income (loss):
Pension and other post-employment plans	(364)	(417)
Available-for-sale securities	179	(394)
Cash flow hedges	(109)	(232)
Translation of foreign operations and real estate revaluation surplus	4,381	6,390
Total shareholders' equity	41,013	41,832
Participating policyholders' equity	221	248
Non-controlling interests	929	743
Total equity	42,163	42,823
Total liabilities and equity	729,533	720,681
Preferred shares [Member]
Equity
Issued shares (note 13)	3,577	3,577
Shareholders' accumulated other comprehensive income (loss):
Total equity	3,577	3,577
Common shares [Member]
Equity
Issued shares (note 13)	22,989	22,865
Shareholders' accumulated other comprehensive income (loss):
Total equity	CAD 22,989	CAD 22,865

Consolidated Statements of Inco

Consolidated Statements of Income - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Premium income
Gross premiums	CAD 36,361	CAD 36,659
Premiums ceded to reinsurers	(8,151)	(9,027)
Net premiums	28,210	27,632
Investment income (note 4)
Investment income	13,649	13,390
Realized and unrealized gains on assets supporting insurance and investment contract liabilities and on the macro hedge program	5,718	1,134
Net investment income	19,367	14,524
Other revenue	10,746	11,181
Total revenue	58,323	53,337
Contract benefits and expenses To contract holders and beneficiaries
Gross claims and benefits (note 8)	24,994	25,059
Change in insurance contract liabilities	20,023	18,014
Change in investment contract liabilities	173
Benefits and expenses ceded to reinsurers	(8,158)	(8,097)
Change in reinsurance assets (note 8)	2,269	(842)
Net benefits and claims	39,301	34,134
General expenses	7,233	6,995
Investment expenses (note 4)	1,673	1,646
Commissions	6,116	5,818
Interest expense	1,139	1,013
Net premium taxes	360	402
Total contract benefits and expenses	55,822	50,008
Income before income taxes	2,501	3,329
Income tax (expense) recovery	(239)	(196)
Net income	2,262	3,133
Net income (loss) attributed to:
Non-controlling interests	194	143
Participating policyholders	(36)	61
Shareholders	2,104	2,929
Net income	2,262	3,133
Net income attributed to shareholders	2,104	2,929
Preferred share dividends	(159)	(133)
Common shareholders' net income	CAD 1,945	CAD 2,796
Earnings per share
Basic earnings per common share (note 13)	CAD 0.98	CAD 1.42
Diluted earnings per common share (note 13)	0.98	1.41
Dividends per common share	CAD 0.82	CAD 0.74

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Statement of comprehensive income [abstract]
Net income	CAD 2,262	CAD 3,133
Foreign exchange gains (losses) on:
Translation of foreign operations	(2,256)	(1,044)
Net investment hedges	227	2
Available-for-sale financial securities:
Unrealized gains (losses) arising during the year	601	(218)
Reclassification of net realized gains and impairments to net income	(32)	(523)
Cash flow hedges:
Unrealized gains arising during the year	110	21
Reclassification of realized losses to net income	13	11
Share of other comprehensive income of associates	1
Total items that may be subsequently reclassified to net income	(1,336)	(1,751)
Items that will not be reclassified to net income:
Change in pension and other post-employment plans	53	104
Real estate revaluation reserve	30
Total items that will not be reclassified to net income	83	104
Other comprehensive loss, net of tax	(1,253)	(1,647)
Total comprehensive income, net of tax	1,009	1,486
Total comprehensive income (loss) attributed to:
Non-controlling interests	192	141
Participating policyholders	(27)	61
Shareholders	844	1,284
Income tax expense (recovery) on:
Unrealized foreign exchange gains/losses on translation of foreign operations	(1)	1
Unrealized foreign exchange gains/losses on net investment hedges	48	22
Unrealized gains/losses on available-for-sale financial securities	284	(15)
Reclassification of realized gains/losses and recoveries/impairments to net income on available-for-sale financial securities	7	(183)
Unrealized gains/losses on cash flow hedges	49	15
Reclassification of realized gains/losses to net income on cash flow hedges	3	6
Change in pension and other post-employment plans	37	57
Real estate revaluation reserve	9
Total income tax expense (recovery)	CAD 436	CAD (97)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - CAD CAD in Millions	Total	Preferred shares [Member]	Common shares [Member]	Contributed Surplus [Member]	Shareholders' Retained Earnings [Member]	Shareholders' accumulated other comprehensive income (loss) ("AOCI") [Member]	Participating Policyholders' Equity [Member]	Non-controlling Interests [Member]
Balance, beginning of year at Dec. 31, 2015		CAD 2,693	CAD 22,799	CAD 277	CAD 8,398	CAD 6,992	CAD 187	CAD 592
Change in unrealized foreign exchange gains (losses) of net foreign operations	CAD (1,044)					(1,042)
Net income attributed to shareholders	2,929				2,929
Net income attributed to non-controlling interests	143							143
Issued (note 13)		900
Exercise of stock options and deferred share units				(12)
Net income (loss) attributed to participating policyholders	61						61
Issued on exercise of stock options			66
Change in actuarial gains (losses) on pension and other post-employment plans	104					104
Preferred share dividends					(133)
Other comprehensive loss attributed to non-controlling interests								(2)
Issuance costs, net of tax		(16)
Stock option expense				19
Change in unrealized gains (losses) on available-for-sale financial securities	(218)					(739)
Common share dividends					(1,435)
Contributions (distributions), net								10
Change in unrealized gains (losses) on derivative instruments designated as cash flow hedges	21					32
Balance, end of year at Dec. 31, 2016	42,823	3,577	22,865	284	9,759	5,347	248	743
Total shareholders' equity, end of year	41,832
Change in unrealized foreign exchange gains (losses) of net foreign operations	(2,256)					(2,029)
Net income attributed to shareholders	2,104				2,104
Net income attributed to non-controlling interests	194							194
Exercise of stock options and deferred share units				(22)
Net income (loss) attributed to participating policyholders	(36)						(36)
Issued on exercise of stock options			124
Change in actuarial gains (losses) on pension and other post-employment plans	53					53
Preferred share dividends					(159)
Other comprehensive loss attributed to non-controlling interests								(2)
Issuance costs, net of tax		0
Stock option expense				15
Other comprehensive income attributed to policyholders							9
Change in unrealized gains (losses) on available-for-sale financial securities	601					572
Common share dividends					(1,621)
Contributions (distributions), net								(6)
Change in unrealized gains (losses) on derivative instruments designated as cash flow hedges	110					123
Change in real estate revaluation reserve	30					20
Share of other comprehensive income of associates	1					1
Balance, end of year at Dec. 31, 2017	42,163	CAD 3,577	CAD 22,989	CAD 277	CAD 10,083	CAD 4,087	CAD 221	CAD 929
Total shareholders' equity, end of year	CAD 41,013

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net income	CAD 2,262	CAD 3,133
Adjustments:
Increase in insurance contract liabilities	20,023	18,014
Increase in investment contract liabilities	173
(Increase) decrease in reinsurance assets	2,269	(842)
Amortization of (premium) discount on invested assets	230	78
Other amortization	560	693
Net realized and unrealized (gains) losses and impairment on assets	(7,188)	(2,804)
Deferred income tax recovery	(331)	(235)
Stock option expense	15	19
Cash provided by (used in) operating activities before undernoted items	18,013	18,056
Changes in policy related and operating receivables and payables	(222)	(1,039)
Cash provided by (used in) operating activities	17,791	17,017
Investing activities
Purchases and mortgage advances	(87,224)	(104,059)
Disposals and repayments	70,720	82,001
Change in investment broker net receivables and payables	227	(186)
Net cash decrease from sale and purchase of subsidiaries and businesses	(10)	(495)
Cash provided by (used in) investing activities	(16,287)	(22,739)
Financing activities
Decrease in repurchase agreements and securities sold but not yet purchased	(29)	(23)
Issue of long-term debt, net (note 11)		3,899
Redemption of long-term debt (note 11)	(607)	(158)
Issue of capital instruments, net (note 12)	2,209	479
Redemption of capital instruments (note 12)	(899)	(949)
Secured borrowing from securitization transactions	741	847
Changes in deposits from Bank clients, net	261	(157)
Shareholders' dividends paid in cash	(1,780)	(1,593)
Contributions from (distributions to) non-controlling interests, net	(6)	10
Common shares issued, net (note 13)	124	66
Preferred shares issued, net (note 13)		884
Cash provided by (used in) financing activities	14	3,305
Cash and short-term securities
Increase (decrease) during the year	1,518	(2,417)
Effect of foreign exchange rate changes on cash and short-term securities	(658)	(347)
Balance, beginning of year	14,238	17,002
Balance, December 31	15,098	14,238
Cash and short-term securities
Gross cash and short-term securities, beginning of year	15,151	17,885
Net payments in transit, included in other liabilities, beginning of year	(913)	(883)
Balance, beginning of year	14,238	17,002
Gross cash and short-term securities, end of year	15,965	15,151
Net payments in transit, included in other liabilities, end of year	(867)	(913)
Balance, December 31	15,098	14,238
Supplemental disclosures on cash flow information
Interest received	10,596	10,550
Interest paid	1,118	983
Income taxes paid	CAD 1,360	CAD 841

Nature of Operations and Signif

Nature of Operations and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Nature of Operations and Significant Accounting Policies	Note 1 Nature of Operations and Significant Accounting Policies (a) Reporting entity Manulife Financial Corporation (“MFC”) is a publicly traded company and the holding company of The Manufacturers Life Insurance Company (“MLI”), a Canadian life insurance company. MFC and its subsidiaries (collectively, “Manulife” or the “Company”) is a leading financial services group with principal operations in Asia, Canada and the United States. Manulife’s international network of employees, agents and distribution partners offers financial protection and wealth management products and services to personal and business clients as well as asset management services to institutional customers. The Company operates as Manulife in Canada and Asia and as John Hancock in the United States. MFC is domiciled in Canada and incorporated under the Insurance Companies Act (Canada) (“ICA”). These Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These Consolidated Financial Statements should be read in conjunction with “Risk Management” in the 2017 Management’s Discussion and Analysis (“MD&A”) dealing with IFRS 7 “Financial Instruments: Disclosures” as the discussion on market risk and liquidity risk includes certain disclosures that are considered an integral part of these Consolidated Financial Statements. These Consolidated Financial Statements as at and for the year ended December 31, 2017 were authorized for issue by MFC’s Board of Directors on February 7, 2018. (b) Basis of preparation The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities as at the date of the Consolidated Financial Statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results may differ from these estimates. The most significant estimation processes relate to assumptions used in measuring insurance and investment contract liabilities, assessing assets for impairment, determining of pension and other post-employment benefit obligation and expense assumptions, determining income taxes and uncertain tax positions and fair valuation of certain invested assets. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the year in which the estimates are revised and in any future years affected. Although some variability is inherent in these estimates, management believes that the amounts recorded are appropriate. The significant accounting policies used and the most significant judgments made by management in applying these accounting policies in the preparation of these Consolidated Financial Statements are summarized below. (c) Fair value measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction (not a forced liquidation or distress sale) between market participants at the measurement date, that is, an exit value. When available, quoted market prices are used to determine fair value. If quoted market prices are not available, fair value is typically based upon alternative valuation techniques such as discounted cash flows, matrix pricing, consensus pricing services and other techniques. Broker quotes are generally used when external public vendor prices are not available. The Company has a process in place that includes a review of price movements relative to the market, a comparison of prices between vendors, and a comparison to internal matrix pricing which uses predominately external observable data. Judgment is applied in adjusting external observable data for items including liquidity and credit factors. The Company categorizes its fair value measurements according to a three-level hierarchy. The hierarchy prioritizes the inputs used by the Company’s valuation techniques. A level is assigned to each fair value measurement based on the lowest level input significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are defined as follows: Level 1 – Fair value measurements that reflect unadjusted, quoted prices in active markets for identical assets and liabilities that the Company has the ability to access at the measurement date reflecting market transactions. Level 2 – Fair value measurements using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in inactive markets, inputs that are observable that are not prices (such as interest rates, credit risks, etc.) and inputs that are derived from or corroborated by observable market data. Most debt securities are classified within Level 2. Also, included in the Level 2 category are derivative instruments that are priced using models with observable market inputs, including interest rate swaps, equity swaps, and foreign currency forward contracts. Level 3 – Fair value measurements using significant non-market long-duration (d) Basis of consolidation MFC consolidates the financial statements of all entities, including certain structured entities that it controls. Subsidiaries are entities controlled by the Company. The Company has control over an entity when the Company has the power to govern the financial and operating policies of the entity, is exposed to variable returns from its activities which are significant in relation to the total variable returns of the entity and the Company is able to use its power over the entity to affect its share of variable returns. In assessing control, significant judgment is applied while considering all relevant facts and circumstances. When assessing decision-making power, the Company considers the extent of its rights relative to the management of an entity, the level of voting rights held in an entity which are potentially or presently exercisable, the existence of any contractual management agreements which may provide the Company with power over an entity’s financial and operating policies and to the extent of other parties’ ownership in an entity, if any, the possibility for de facto control being present. When assessing returns, the Company considers the significance of direct and indirect financial and non-financial The financial statements of subsidiaries are included in the MFC’s consolidated results from the date control is established and are excluded from consolidation from the date control ceases. The initial control assessment is performed at inception of the Company’s involvement with the entity and is reconsidered at a later date if the Company acquires or loses power over key operating and financial policies of the entity; acquires additional interests or disposes of interests in the entity; the contractual arrangements of the entity are amended such that the Company’s proportionate exposure to variable returns changes; or if the Company’s ability to use its power to affect its variable returns from the entity changes. The Company’s Consolidated Financial Statements have been prepared using uniform accounting policies for like transactions and events in similar circumstances. Intercompany balances, and income and expenses arising from intercompany transactions, have been eliminated in preparing the Consolidated Financial Statements. Non-controlling Non-controlling non-controlling The equity method of accounting is used to account for entities over which the Company has significant influence (“associates”), whereby the Company records its share of the associate’s net assets and financial results using uniform accounting policies for similar transactions and events. Significant judgment is used to determine whether voting rights, contractual management and other relationships with the entity, if any, provide the Company with significant influence over the entity. Gains and losses on the sale of associates are included in income when realized, while impairment losses are recognized immediately when there is objective evidence of impairment. Gains and losses on commercial transactions with associates are eliminated to the extent of the Company’s interest in the associate. Investments in associates are included in other invested assets on the Company’s Consolidated Statements of Financial Position. (e) Invested assets Invested assets that are considered financial instruments are classified as fair value through profit or loss (“FVTPL”), loans and receivables, or as available-for-sale non-derivative Valuation methods for the Company’s invested assets are described above. All fair value valuations are performed in accordance with IFRS 13 “Fair Value Measurement”. Disclosure of financial instruments carried at fair value with the three levels of the fair value hierarchy and the disclosure of the fair value for financial instruments not carried at fair value on the Consolidated Statements of Financial Position are presented in note 4. Fair value valuations are performed by the Company and by third-party service providers. When third-party service providers are engaged, the Company performs a variety of procedures to corroborate pricing information. These procedures may include, but are not limited to, inquiry and review of valuation techniques, inputs to the valuation and vendor controls reports. Cash and short-term securities comprise cash, current operating accounts, overnight bank and term deposits, and fixed income securities held for the purpose of meeting short-term cash commitments. Short-term securities are carried at fair value. Short-term securities are comprised of investments due to mature within one year of the date of purchase. Commercial paper and discount notes are classified as Level 2 because these securities are typically not actively traded. Net payments in transit and overdraft bank balances are included in other liabilities. Debt securities are carried at fair value. Debt securities are generally valued by independent pricing vendors using proprietary pricing models incorporating current market inputs for similar instruments with comparable terms and credit quality (matrix pricing). The significant inputs include, but are not limited to, yield curves, credit risks and spreads, measures of volatility and prepayment rates. These debt securities are classified as Level 2, but can be Level 3 if the significant inputs are market unobservable. Realized gains and losses on sale of debt securities and unrealized gains and losses on debt securities designated as FVTPL are recognized in investment income immediately. Unrealized gains and losses on AFS debt securities are recorded in OCI, with the exception of unrealized gains and losses on foreign currency translation which are included in income. Impairment losses on AFS debt securities are recognized in income on an individual security basis when there is objective evidence of impairment. Impairment is considered to have occurred, based on management’s judgment, when it is deemed probable that the Company will not be able to collect all amounts due according to the debt security’s contractual terms. Equities are comprised of common and preferred equities and are carried at fair value. Equities are generally classified as Level 1, as fair values are normally based on quoted market prices. Realized gains and losses on sale of equities and unrealized gains and losses on equities designated as FVTPL are recognized in investment income immediately. Unrealized gains and losses on AFS equities are recorded in OCI. Impairment losses on AFS equities are recognized in income on an individual security basis when there is objective evidence of impairment. Impairment is considered to have occurred when fair value has declined below cost by significant amounts or for prolonged periods of time. Judgment is applied in determining whether the decline is significant or prolonged. Mortgages are carried at amortized cost, and are classified as Level 3 for fair value purposes due to the lack of market observability of certain significant valuation inputs. Realized gains and losses are recorded in investment income immediately. Impairment losses are recorded on mortgages when there is no longer reasonable assurance as to the timely collection of the full amount of principal and interest and are measured based on the discounted value of expected future cash flows at the original effective interest rates inherent in the mortgage. Expected future cash flows of impaired mortgages are typically determined in reference to the fair value of collateral security underlying the mortgage, net of expected costs of realization and any applicable insurance recoveries. Significant judgment is applied in the determination of impairment including the timing and amount of future collections. The Company accounts for insured and uninsured mortgage securitizations as secured financing transactions since the criteria for sale accounting are not met. For these transactions, the Company continues to recognize the mortgages and records a liability in other liabilities for the amounts owed at maturity. Interest income from these mortgages and interest expense on the borrowings are recorded using the effective interest rate method. Private placements, which include corporate loans for which there is no active market, are carried at amortized cost and are generally classified as Level 2 for fair value disclosure purposes, but can be classified as Level 3 if significant inputs are market unobservable. Realized gains and losses are recorded in income immediately. Impairment losses are recorded on private placements when there is no longer assurance as to the timely collection of the full amount of principal and interest. Impairment is measured based on the discounted value of expected future cash flows at the original effective interest rate inherent in the loan. Significant judgment is applied in the determination of impairment including the timing and amount of future collections. Policy loans are carried at an amount equal to their unpaid balances and are classified as Level 2 for fair value disclosure purposes. Policy loans are fully collateralized by the cash surrender value of the underlying policies. Loans to Manulife Bank of Canada (“Manulife Bank” or “Bank”) clients are carried at unpaid principal balances less allowance for credit losses, if any, and are classified as Level 2 for fair value disclosure purposes. A loan to a Bank client is considered impaired when there is objective evidence of impairment as a result of one or more loss events that have occurred after initial recognition, with a negative impact on the estimated future cash flows of the loan. Once established, allowances for impairment of mortgages, private placements and loans to Bank clients are reversed only if the conditions that caused the impairment no longer exist. Reversals of impairment charges on AFS debt securities are only recognized in income to the extent that increases in fair value can be attributed to events subsequent to the impairment loss being recorded. Impairment losses for AFS equity instruments are not reversed through income. On disposition of an impaired asset, any allowance for impairment is released. In addition to impairments and provisions for loan losses (recoveries) reported in investment income, the measurement of insurance contract liabilities via investment return assumptions, includes expected future credit losses on fixed income investments. Refer to note 8(d). Interest income is recognized on debt securities, mortgages, private placements, policy loans and loans to Bank clients as it accrues and is calculated using the effective interest rate method. Premiums, discounts and transaction costs are amortized over the life of the underlying investment using the effective yield method for all debt securities as well as mortgages and private placements measured at amortized cost. The Company records purchases and sales of invested assets on a trade date basis, except for loans originated by the Company, which are recognized on a settlement date basis. Real estate consists of both own use and investment property. Own use property is carried at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated based on the cost of an asset less its residual value and is recognized in income on a straight-line basis over the estimated useful life ranging from 30 to 60 years. Impairment losses are recorded in income to the extent the recoverable amount is less than the carrying amount. Where own use property is included in assets backing insurance contract liabilities, the fair value of the property is used in the valuation of insurance contract liabilities. Own use property is classified as Level 3 for fair value disclosure purposes. An investment property is a property held to earn rental income, for capital appreciation, or both. Investment properties are measured at fair value, with changes in fair value recognized in income. Fair value is determined using external appraisals that are based on the highest and best use of the property. The valuation techniques used include discounted cash flows, the direct capitalization method as well as comparable sales analysis and include both observable and unobservable inputs. Inputs include existing and assumed tenancies, market data from recent comparable transactions, future economic outlook and market risk assumptions, capitalization rates and internal rates of return. Investment properties are classified as Level 3 for fair value disclosure purposes. When a property changes from own use to investment property, any gain arising on the remeasurement of the property to fair value at the date of transfer is recognized in OCI, to the extent that it is not reversing a previous impairment loss. Reversals of impairment losses are recognized in income. Other invested assets include private equity and property investments held in power and infrastructure and timber, as well as in agriculture and oil and gas sectors. Private equity investments are accounted for as associates using the equity method (as described in note 1(d) above) or are classified as FVTPL or AFS and carried at fair value. Investments in oil and gas exploration and evaluation activities are measured on the cost basis using the “successful efforts” method. Timber and agriculture properties are measured at fair value with changes in fair value recognized in income, with the exception of buildings, equipment and bearer plants which are measured at amortized cost. The fair value of other invested assets is determined using a variety of valuation techniques as described in note 4. Other invested assets that are measured or disclosed at fair value are classified as Level 3. Other invested assets also include investments in leveraged leases, which are accounted for using the equity method. The carrying value under the equity method reflects the amortized cost of the lease receivable and related non-recourse (f) Goodwill and intangible assets Goodwill represents the difference between the purchase consideration of an acquired business and the Company’s proportionate share of the net identifiable assets acquired. It is initially recorded at cost and subsequently measured at cost less any accumulated impairment. Goodwill is tested for impairment at least annually and whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable at the cash generating unit (“CGU”) or group of CGUs level. The Company allocates goodwill to CGUs or groups of CGUs for the purpose of impairment testing based on the lowest level within the entity in which the goodwill is monitored for internal management purposes. The allocation is made to those CGUs or groups of CGUs that are expected to benefit from the business combination in which the goodwill arose. Any potential impairment of goodwill is identified by comparing the recoverable amount of a CGU or group of CGUs to its carrying value. Goodwill is reduced by the amount of deficiency, if any. If the deficiency exceeds the carrying amount of goodwill, the carrying values of the remaining assets in the CGU or group of CGUs are subject to being reduced by the excess on a pro-rata The recoverable amount of a CGU is the higher of the estimated fair value less costs to sell or the value-in-use value-in-use, pre-tax Intangible assets with indefinite useful lives include the John Hancock brand name and certain investment management contracts. The indefinite useful life assessment for brand is based on the brand name being protected in markets where branded products are sold by trademarks, which are renewable indefinitely, and for certain investment management contracts due to the ability to renew these contracts indefinitely. In addition, there are no legal, regulatory or contractual provisions that limit the useful lives of these intangible assets. An intangible asset with an indefinite useful life is not amortized but is subject to an annual impairment test which is performed more frequently if there is an indication that it is not recoverable. Intangible assets with finite useful lives include acquired distribution networks, customer relationships, capitalized software, certain investment management contracts and other contractual rights. Distribution networks, customer relationships, and other finite life intangible assets are amortized over their estimated useful lives, six to 68 years, either based on straight-line or in relation to other asset consumption metrics. Software intangible assets are amortized on a straight-line basis over their estimated useful lives of three to five years. Finite life intangible assets are assessed for indicators of impairment at each reporting period. If any indication of impairment exists, these assets are subject to an impairment test. (g) Miscellaneous assets Miscellaneous assets include assets held in a rabbi trust with respect to unfunded defined benefit obligations, defined benefit assets, if any (refer to note 1(o)), deferred acquisition costs and capital assets. Deferred acquisition costs are carried at cost less accumulated amortization. These costs are recognized over the period where redemption fees may be charged or over the period revenue is earned. Capital assets are carried at cost less accumulated amortization computed on a straight-line basis over their estimated useful lives, which vary from two to 10 years. (h) Segregated funds The Company manages a number of segregated funds on behalf of policyholders. The investment returns on these funds are passed directly to policyholders. In some cases, the Company has provided guarantees associated with these funds. Segregated funds net assets are measured at fair value and primarily include investments in mutual funds, debt securities, equities, real estate, short-term investments and cash and cash equivalents. With respect to the consolidation requirement of IFRS, in assessing the Company’s degree of control over the underlying investments, the Company considers the scope of its decision-making rights, the rights held by other parties, its remuneration as an investment manager and its exposure to variability of returns. The Company has determined that it does not have control over the underlying investments as it acts as an agent on behalf of segregated fund policyholders. The methodology applied to determine the fair value of investments held in segregated funds is consistent with that applied to invested assets held by the general fund, as described above in note 1(e). Segregated funds liabilities are measured based on the value of the segregated funds net assets. Investment returns on segregated funds assets belong to policyholders and the Company does not bear the risk associated with these assets outside of guarantees offered on certain variable life and annuity products, for which the underlying investments are held within segregated funds. Accordingly, investment income earned by segregated funds and expenses incurred by segregated funds are offset and are not separately presented in the Consolidated Statements of Income. Fee income earned by the Company for managing the segregated funds is included in other revenue. Refer to note 22. Liabilities related to guarantees associated with certain segregated funds, as a result of certain variable life and annuity contracts, are recorded within the Company’s insurance contract liabilities. The Company holds assets supporting these guarantees which are recognized in invested assets according to their investment type. (i) Insurance and investment contract liabilities Most contracts issued by the Company are considered insurance, investment or service contracts. Contracts under which the Company accepts significant insurance risk from a policyholder are classified as insurance contracts in the Consolidated Financial Statements. A contract is considered to have significant insurance risk if, and only if, an insured event could cause an insurer to make significant additional payments in any scenario, excluding scenarios that lack commercial substance at the inception of the contract. Contracts under which the Company does not accept significant insurance risk are either classified as investment contracts or considered service contracts and are accounted for in accordance with IAS 39 “ ” Once a contract has been classified as an insurance contract it remains an insurance contract even if the insurance risk reduces significantly. Investment contracts can be reclassified as insurance contracts if insurance risk subsequently becomes significant. Insurance contract liabilities, net of reinsurance assets, represent the amount which, together with estimated future premiums and net investment income, will be sufficient to pay estimated future benefits, policyholder dividends and refunds, taxes (other than income taxes) and expenses on policies in-force. Investment contract liabilities include contracts issued to retail and institutional investors that do not contain significant insurance risk. Investment contract liabilities and deposits are measured at amortized cost or at fair value by election. The election reduces accounting mismatches between assets supporting these contracts and the related policy liabilities. Investment contract liabilities are derecognized when the contract expires, is discharged or is cancelled. Derivatives embedded within insurance contracts are separated if they are not considered to be closely related to the host insurance contract and do not meet the definition of an insurance contract. These embedded derivatives are presented separately in other assets or other liabilities and are measured at fair value with changes in fair value recognized in income. (j) Reinsurance assets The Company uses reinsurance in the normal course of business to manage its risk exposure. Insurance ceded to a reinsurer does not relieve the Company from its obligations to policyholders. The Company remains liable to its policyholders for the portion reinsured to the extent that any reinsurer does not meet its obligations for reinsurance ceded to it under a reinsurance agreement. Reinsurance assets represent the benefit derived from reinsurance agreements in-force Gains or losses on reinsurance transactions are recognized in income immediately on the transaction date and are not amortized. Premiums ceded and claims reimbursed are presented on a gross basis on the Consolidated Statements of Income. Reinsurance assets are not offset against the related insurance contract liabilities and are presented separately on the Consolidated Statements of Financial Position. Refer to note 8(a). (k) Other financial instruments accounted for as liabilities The Company issues a variety of other financial instruments classified as liabilities, including notes payable, term notes, senior notes, senior debentures, subordinated notes, surplus notes, subscription receipts and preferred shares. These financial liabilities are measured at amortized cost, with issuance costs deferred and amortized using the effective interest rate method. (l) Income taxes The provision for income taxes is calculated based on income tax laws and income tax rates substantively enacted as at the date of the Consolidated Statements of Financial Position. The income tax provision is comprised of current income taxes and deferred income taxes. Current and deferred income taxes relating to items recognized in OCI and directly in equity are similarly recognized in OCI and directly in equity, respectively. Current income taxes are amounts expected to be payable or recoverable as a result of operations in the current year and any adjustments to taxes payable in respect of previous years. Deferred income taxes are provided for using the liability method and result from temporary differences between the carrying values of assets and liabilities and their respective tax bases. Deferred income taxes are measured at the substantively enacted tax rates that are expected to be applied to temporary differences when they reverse. A deferred tax asset is recognized to the extent that future realization of the tax benefit is probable. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the tax benefit will be realized. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets and they relate to income taxes levied by the same tax authority on the same taxable entity. Deferred tax liabilities are recognized for all taxable temporary differences, except in respect of taxable temporary differences associated with investments in subsidiaries and associates, where the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. The Company records provisions for uncertain tax positions if it is probable that the Company will make a payment on tax positions as a result of examinations by tax authorities. These provisions are measured at the Company’s best estimate of the amount expected to be paid. Provisions are reversed to income in the period in which management assesses they are no longer required or determined by statute. The Company is subject to income tax laws in various jurisdictions. Tax laws are complex and potentially subject to different interpretations by the taxpayer and the relevant tax authority. The provision for income taxes and deferred income taxes represents management’s interpretation of the relevant tax laws and its estimate of current and future income tax implications of the transactions and events during the year. The Company may be required to change its provision for income taxes or deferred income tax balances when the ultimate deductibility of certain items is successfully challenged by taxing authorities, or if estimates used in determining the amount of deferred tax asset to recognize change significantly, or when receipt of new information indicates the need for adjustment in the amount of deferred income taxes to be recognized. Additionally, future events, such as changes in tax laws, tax regulations, or interpretations of such laws or regulations, could have an impact on the provision for income taxes, deferred tax balances and the effective tax rate. Any such changes could materially affect the amounts reported in the Consolidated Financial Statements in the period these changes occur. (m) Foreign currency translation Items included in the financial statements of each of the Company’s subsidiaries are measured by each subsidiary using the currency of the primary economic environment in which the entity operates (the “functional currency”). Transactions in a foreign currency are translated to the functional currency at the exchange rate prevailing at the date of the transaction. Assets and liabilities denominated in foreign currencies are translated to the functional currency at the exchange rate in effect at the reporting date. Revenue and expenses denominated in foreign currencies are translated at

Accounting and Reporting Change

Accounting and Reporting Changes	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Accounting and Reporting Changes	Note 2 Accounting and Reporting Changes (a) Changes in accounting policy (I) Annual improvements to IFRS Standards 2014 – 2016 Cycle Effective January 1, 2017, the Company adopted certain amendments issued within the Annual Improvements to IFRS Standards 2014-2016 Cycle, as issued by the IASB in December 2016. There are various minor amendments which are effective in 2017, with other amendments being effective January 1, 2018. The currently effective amendments were applied retrospectively. Adoption of these amendments did not have a significant impact on the Company’s Consolidated Financial Statements. (II) Amendments to IAS 12 “Income Taxes” Effective January 1, 2017, the Company adopted the amendments issued in January 2016 to IAS 12 “Income Taxes”. These amendments were applied retrospectively. The amendments clarify recognition of deferred tax assets relating to unrealized losses on debt instruments measured at fair value. A deductible temporary difference arises when the carrying amount of the debt instrument measured at fair value is less than the cost for tax purposes, irrespective of whether the debt instrument is held for sale or held to maturity. The recognition of the deferred tax asset that arises from this deductible temporary difference is considered in combination with other deferred taxes applying local tax law restrictions where applicable. In addition, when estimating future taxable profits, consideration can be given to recovering more than the asset’s carrying amount where probable. Adoption of these amendments did not have a significant impact on the Company’s Consolidated Financial Statements. (III) Amendments to IAS 7 “Statement of Cash Flows” Effective January 1, 2017, the Company adopted the amendments issued in January 2016 to IAS 7 “Statement of Cash Flows”. These amendments were applied prospectively. These amendments require companies to provide information about changes in their financing liabilities. Adoption of these amendments did not have a significant impact on the Company’s Consolidated Financial Statements. (b) Future accounting and reporting changes (I) IFRS 15 “Revenue from Contracts with Customers” IFRS 15 “Revenue from Contracts with Customers” was issued in May 2014, and replaces IAS 11 “Construction Contracts” IAS 18 “Revenue” and several interpretations. Amendments to IFRS 15 were issued in April 2016. IFRS 15 as amended is effective for annual periods beginning on or after January 1, 2018. The Company will adopt IFRS 15 effective January 1, 2018, using the modified retrospective method with no restatement of comparative information. IFRS 15 clarifies revenue recognition principles, provides a robust framework for recognizing revenue and cash flows arising from contracts with customers and enhances qualitative and quantitative disclosure requirements. IFRS 15 does not apply to insurance contracts, financial instruments and lease contracts. The Company’s service arrangements are generally satisfied over time, with revenue measured and collected from customers within a short term, as services are rendered. Adoption of IFRS 15 is not expected to have a significant impact on the Company’s Consolidated Financial Statements. (II) IFRS Interpretation Committee (“IFRIC”) Interpretation 22 “Foreign Currency Transactions and Advance Consideration” IFRIC 22 “Foreign Currency Transactions and Advance Consideration” was issued in December 2016 and is effective for annual periods beginning on or after January 1, 2018 and may be applied retrospectively or prospectively. IFRIC 22 addresses which foreign exchange rate to use to measure a foreign currency transaction when advance payments are made or received and non-monetary non-monetary (III) Amendments to IFRS 2 “Share-Based Payment” Amendments to IFRS 2 “Share-Based Payment” were issued in June 2016 and are effective for annual periods beginning on or after January 1, 2018, to be applied prospectively. The amendments clarify the effects of vesting and non-vesting (IV) IFRS 9 “Financial Instruments” IFRS 9 “Financial Instruments” was issued in November 2009 and amended in October 2010, November 2013 and July 2014, and is effective for years beginning on or after January 1, 2018, to be applied retrospectively, or on a modified retrospective basis. Additionally, the IASB issued amendments in October 2017 that are effective for annual periods beginning on or after January 1, 2019. The standard is intended to replace IAS 39 “Financial Instruments: Recognition and Measurement”. The project has been divided into three phases: classification and measurement, impairment of financial assets, and hedge accounting. IFRS 9’s current classification and measurement methodology provides that financial assets are measured at either amortized cost or fair value on the basis of the entity’s business model for managing the financial assets and the contractual cash flow characteristics of the financial assets. The classification and measurement for financial liabilities remains generally unchanged; however, for a financial liability designated as at fair value through profit or loss, revisions have been made in the accounting for changes in fair value attributable to changes in the credit risk of that liability. Gains or losses caused by changes in an entity’s own credit risk on such liabilities are no longer recognized in profit or loss but instead are reflected in OCI. Revisions to hedge accounting were issued in November 2013 as part of the overall IFRS 9 project. The amendment introduces a new hedge accounting model, together with corresponding disclosures about risk management activities for those applying hedge accounting. The new model represents a substantial overhaul of hedge accounting that will enable entities to better reflect their risk management activities in their financial statements. Revisions issued in July 2014 replace the existing incurred loss model used for measuring the allowance for credit losses with an expected credit loss model. Changes were also made to the existing classification and measurement model designed primarily to address specific application issues raised by early adopters of the standard. The revision also addresses the income statement accounting mismatches and short-term volatility issues which have been identified as a result of the insurance contracts project. Revisions issued in October 2017 allow financial assets to be measured at amortized cost or fair value through OCI even if the lender is required to pay a reasonable compensation in the event of an early termination of the contract by the borrower (also referred to as prepayment features with negative compensation). The Company expects to defer IFRS 9 until January 1, 2021 as allowed under the amendments to IFRS 4 “Insurance Contracts” outlined below. The Company is assessing the impact of this standard. (V) Amendments to IFRS 4 “Insurance Contracts” Amendments to IFRS 4 “Insurance Contracts” were issued in September 2016, which are effective for annual periods beginning on or after January 1, 2018. The amendments introduce two approaches to address concerns about the differing effective dates of IFRS 9 “Financial Instruments” and IFRS 17 “Insurance Contracts”: the overlay approach and the deferral approach. The overlay approach provides an option for all issuers of insurance contracts to adjust profit or loss for eligible financial assets by removing any additional accounting volatility that may arise from applying IFRS 9 before IFRS 17 is implemented. The deferral approach provides companies whose activities are predominantly related to insurance an optional temporary exemption from applying IFRS 9 until January 1, 2021. The Company qualifies for the exemption and intends to defer IFRS 9 until January 1, 2021. (VI) IFRS 17 “Insurance Contracts” IFRS 17 was issued in May 2017 and is effective for years beginning on January 1, 2021, and to be applied retrospectively. If full retrospective application to a group of contracts is impractical, the modified retrospective or fair value methods may be used. The standard will replace IFRS 4 “Insurance Contracts” and will materially change the recognition and measurement of insurance contracts and the corresponding presentation and disclosures in the Company’s Financial Statements and MD&A. The Company is assessing the implications of this standard and expects that it will have a significant impact on the Company’s Consolidated Financial Statements. In addition, in certain jurisdictions, including Canada, it could have a material effect on tax and regulatory capital positions that are dependent upon IFRS accounting values. For life insurance companies, such as Manulife, that have long-duration products and/or regulatory and tax regimes dependent upon IFRS accounting values, the Company believes that an effective date of January 1, 2021 is aggressive. Therefore, while the Company’s implementation project is well underway, the Company and others in the life insurance industry are encouraging the IASB to defer the effective date. (VII) IFRS 16 “Leases” IFRS 16 “Leases” was issued in January 2016 and is effective for years beginning on or after January 1, 2019, to be applied retrospectively or on a modified retrospective basis. It will replace IAS 17 “Leases” and IFRIC 4 “Determining whether an arrangement contains a lease”. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, the customer (“lessee”) and the supplier (“lessor”). The standard brings most leases on-balance on-balance right-of-use (VIII) IFRS Interpretation Committee (“IFRIC”) Interpretation 23 “Uncertainty over Income Tax Treatments” IFRIC 23 “Uncertainty over Income Tax Treatments” was issued in June 2017 and is effective for years beginning on or after January 1, 2019, to be applied retrospectively. IFRIC 23 provides guidance on applying the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments including whether uncertain tax treatments should be considered together or separately based on which approach better predicts resolution of the uncertainty. Adoption of IFRIC 23 is not expected to have a significant impact on the Company’s Consolidated Financial Statements. (IX) Amendments to IAS 28 “Investments in Associates and Joint Ventures” Amendments to IAS 28 “Investments in Associates and Joint Ventures” were issued in October 2017 and are effective for annual periods beginning on or after January 1, 2019, to be applied retrospectively. The amendments clarify that an entity applies IFRS 9 “Financial Instruments” to financial interests in an associate or joint venture to which the equity method is not applied. IAS 39 is being applied to these interests until IFRS 9 is adopted in 2021. Adoption of these amendments is not expected to have a significant impact on the Company’s Consolidated Financial Statements. (X) Annual Improvements 2015 – 2017 Cycle Annual Improvements 2015 – 2017 Cycle was issued in December 2017 and is effective for years beginning on or after January 1, 2019. The IASB issued three minor amendments to different standards as part of the Annual Improvements process, with the amendments to be applied prospectively. Adoption of these amendments is not expected to have significant impact on the Company’s Consolidated Financial Statements.

Acquisition and Distribution Ag

Acquisition and Distribution Agreements	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Acquisition and Distribution Agreements	Note 3 Acquisition and Distribution Agreements (a) Mandatory Provident Fund business of Standard Chartered On November 1, 2016, the C C C 15-year C (b) Distribution agreement with DBS Bank Ltd (“DBS”) Effective January 1, 2016, the C 15-year C C C

Invested Assets and Investment

Invested Assets and Investment Income	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Invested Assets and Investment Income	Note 4 Invested Assets and Investment Income (a) Carrying values and fair values of invested assets As at December 31, 2017 FVTPL (1) AFS (2) Other (3) Total carrying Total fair (9) Cash and short-term securities (4) $ 439 $ 11,429 $ 4,097 $ 15,965 $ 15,965 Debt securities (5) Canadian government and agency 17,886 4,892 – 22,778 22,778 U.S. government and agency 12,497 13,472 – 25,969 25,969 Other government and agency 16,838 2,988 – 19,826 19,826 Corporate 96,785 5,366 – 102,151 102,151 Mortgage/asset-backed securities 3,018 258 – 3,276 3,276 Public equities 18,473 3,072 – 21,545 21,545 Mortgages – – 44,742 44,742 46,065 Private placements – – 32,132 32,132 34,581 Policy loans – – 5,808 5,808 5,808 Loans to Bank clients – – 1,737 1,737 1,742 Real estate Own use property (6) – – 1,281 1,281 2,448 Investment property – – 12,529 12,529 12,529 Other invested assets Alternative long-duration assets (7) 12,018 88 8,624 20,730 21,053 Various other (8) 142 – 3,611 3,753 3,752 Total invested assets $ 178,096 $ 41,565 $ 114,561 $ 334,222 $ 339,488 As at December 31, 2016 FVTPL (1) AFS (2) Other (3) Total carrying Total fair (9) Cash and short-term securities (4) $ 269 $ 11,705 $ 3,177 $ 15,151 $ 15,151 Debt securities (5) Canadian government and agency 18,030 6,715 – 24,745 24,745 U.S. government and agency 13,971 13,333 – 27,304 27,304 Other government and agency 18,629 2,312 – 20,941 20,941 Corporate 87,374 5,041 – 92,415 92,415 Mortgage/asset-backed securities 2,886 331 – 3,217 3,217 Public equities 16,531 2,965 – 19,496 19,496 Mortgages – – 44,193 44,193 45,665 Private placements – – 29,729 29,729 31,459 Policy loans – – 6,041 6,041 6,041 Loans to Bank clients – – 1,745 1,745 1,746 Real estate Own use property (6) – – 1,376 1,376 2,524 Investment property – – 12,756 12,756 12,756 Other invested assets Alternative long-duration assets (7) 10,707 96 8,048 18,851 19,193 Various other (8) 164 – 3,745 3,909 3,910 Total invested assets $ 168,561 $ 42,498 $ 110,810 $ 321,869 $ 326,563 (1) The FVTPL classification was elected for securities backing insurance contract liabilities to substantially reduce any accounting mismatch arising from changes in the fair value of these assets and changes in the value of the related insurance contract liabilities. If this election had not been made and instead the available-for-sale (2) Securities that are designated as AFS are not actively traded by the Company but sales do occur as circumstances warrant. Such sales result in a reclassification of any accumulated unrealized gain (loss) in AOCI to net income as a realized gain (loss). (3) Primarily includes assets classified as loans and carried at amortized cost, own use properties, investment properties, equity method accounted investments, oil and gas investments, and leveraged leases. Refer to note 1(e) for further details regarding accounting policy. (4) Includes short-term securities with maturities of less than one year at acquisition amounting to $2,737 (2016 – $3,111), cash equivalents with maturities of less than 90 days at acquisition amounting to $9,131 (2016 – $8,863) and cash of $4,097 (2016 – $3,177). (5) Debt securities include securities which were acquired with maturities of less than one year and less than 90 days of $1,768 and $161, respectively (2016 – $893 and $192, respectively). (6) Includes accumulated depreciation of $389 (2016 – $404). (7) Alternative long-duration assets (“ALDA”) include investments in private equity of $4,959, power and infrastructure of $7,355, oil and gas of $2,813, timber and agriculture of $5,033 and various other invested assets of $570 (2016 – $4,619, $6,679, $2,093, $4,972 and $488, respectively). (8) Includes $3,273 (2016 – $3,369) of leveraged leases. Refer to note 1(e) regarding accounting policy. (9) The methodologies used in determining fair values of invested assets are described in note 1 and note 4(g). (b) Equity method accounted invested assets Other invested assets include investments in associates and joint ventures which are accounted for using the equity method of accounting as follows. 2017 2016 As at December 31, Carrying % of total Carrying % of total Leveraged leases $ 3,273 56 $ 3,369 58 Timber and agriculture 451 8 430 8 Real estate 498 9 419 7 Other 1,535 27 1,562 27 Total $ 5,757 100 $ 5,780 100 The Company’s share of profit and dividends from these investments for the year ended December 31, 2017 were $291 and $14, respectively (2016 – $252 and $17, respectively). (c) Investment income For the year ended December 31, 2017 FVTPL AFS Other (1) Total Yields (2) Cash and short-term securities 0.9% Interest income $ 7 $ 153 $ – $ 160 Gains (losses) (3) 22 (47 ) – (25 ) Debt securities 5.4% Interest income 5,102 577 – 5,679 Gains (losses) (3) 3,690 (205 ) – 3,485 Recovery (impairment loss), net 16 (1 ) – 15 Public equities 16.6% Dividend income 524 79 – 603 Gains (3) 2,372 226 – 2,598 Impairment loss – (14 ) – (14 ) Mortgages 3.9% Interest income – – 1,685 1,685 Gains (3) – – 69 69 Provision, net – – (32 ) (32 ) Private placements 5.3% Interest income – – 1,553 1,553 Gains (3) – – 43 43 Impairment loss, net – – 10 10 Policy loans – – 365 365 6.1% Loans to Bank clients 4.0% Interest income – – 68 68 Real estate 6.2% Rental income, net of depreciation (4) – – 517 517 Gains (3) – – 341 341 Impairment loss – – (4 ) (4 ) Derivatives n/a Interest income, net 809 – 84 893 Gains (losses) (3) (1,029 ) – 84 (945 ) Other invested assets 10.3% Interest income – – 174 174 Oil and gas, timber, agriculture and other income – – 1,690 1,690 Gains (losses) (3) 441 (7 ) 50 484 Impairment loss, net – – (45 ) (45 ) Total investment income $ 11,954 $ 761 $ 6,652 $ 19,367 6.0% Investment income Interest income $ 5,918 $ 730 $ 3,929 $ 10,577 3.3% Dividend, rental and other income 524 79 2,207 2,810 0.9% Impairments, provisions and recoveries, net 16 (15 ) (71 ) (70 ) 0.0% Other 460 (51 ) (77 ) 332 0.1% 6,918 743 5,988 13,649 Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on macro equity hedges Debt securities 3,694 (8 ) – 3,686 1.1% Public equities 2,200 35 – 2,235 0.7% Mortgages – – 69 69 0.0% Private placements – – 40 40 0.0% Real estate – – 350 350 0.1% Other invested assets 329 (9 ) 121 441 0.1% Derivatives, including macro equity hedging program (1,187 ) – 84 (1,103 ) (0.3% ) 5,036 18 664 5,718 Total investment income $ 11,954 $ 761 $ 6,652 $ 19,367 6.0% For the year ended December 31, 2016 FVTPL AFS Other (1) Total Yields (2) Cash and short-term securities 0.7% Interest income $ 7 $ 117 $ – $ 124 Gains (losses) (3) 18 (18 ) – – Debt securities 4.7% Interest income 5,051 588 – 5,639 Gains (3) 1,658 548 – 2,206 Recovery (impairment loss), net (18 ) – – (18 ) Public equities 10.6% Dividend income 534 58 – 592 Gains (3) 1,008 201 – 1,209 Impairment loss – (48 ) – (48 ) Mortgages 4.1% Interest income – – 1,667 1,667 Gains (losses) (3) – – 81 81 Provision, net – – (7 ) (7 ) Private placements 5.4% Interest income – – 1,494 1,494 Gains (3) – – 17 17 Impairment loss, net – – (50 ) (50 ) Policy loans – – 358 358 6.1% Loans to Bank clients 3.9% Interest income – – 68 68 Real estate 4.9% Rental income, net of depreciation (4) – – 523 523 Gains (3) – – 160 160 Derivatives n/a Interest income, net 1,115 – (33 ) 1,082 Losses (3) (2,597 ) – – (2,597 ) Other invested assets 10.3% Interest income – – 103 103 Oil and gas, timber, agriculture and other income – – 1,162 1,162 Gains (3) 634 1 207 842 Impairment loss, net – – (83 ) (83 ) Total investment income $ 7,410 $ 1,447 $ 5,667 $ 14,524 4.7% Investment income Interest income $ 6,173 $ 703 $ 3,657 $ 10,533 3.4% Dividend, rental and other income 534 58 1,685 2,277 0.7% Impairments and provisions (18 ) (48 ) (140 ) (206 ) (0.1% ) Other (6 ) 707 85 786 0.2% 6,683 1,420 5,287 13,390 Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on macro equity hedges Debt securities 1,657 5 – 1,662 0.5% Public equities 963 22 – 985 0.3% Mortgages – – 80 80 0.0% Private placements – – 12 12 0.0% Real estate – – 128 128 0.0% Other invested assets 688 – 160 848 0.3% Derivatives, including macro equity hedging program (2,581 ) – – (2,581 ) (0.8% ) 727 27 380 1,134 Total investment income $ 7,410 $ 1,447 $ 5,667 $ 14,524 4.7% (1) Primarily includes loans carried at amortized cost, own use properties, investment properties, derivative and hedging instruments in cash flow hedging relationships, equity method accounted investments, oil and gas investments, and leveraged leases. (2) Yields are based on income and are calculated using the geometric average of the carrying value of assets held during the reporting year. (3) Includes net realized gains (losses) as well as net unrealized gains (losses) for financial instruments at FVTPL, real estate investment properties, and other invested assets measured at fair value. Also includes net realized gains (losses) for financial instruments at AFS and other invested assets carried at amortized cost. (4) Rental income from investment properties is net of direct operating expenses. (d) Investment expenses The following table presents the Company’s total investment expenses. For the years ended December 31, 2017 2016 Related to invested assets $ 625 $ 581 Related to segregated, mutual and other funds 1,048 1,065 Total investment expenses $ 1,673 $ 1,646 (e) Investment properties The following table presents rental income and direct operating expenses of investment properties. For the years ended December 31, 2017 2016 Rental income from investment properties $ 1,120 $ 1,204 Direct operating expenses of investment properties that generated rental income (694 ) (764 ) Total $ 426 $ 440 (f) Mortgage securitization The Company securitizes certain insured and uninsured fixed and variable rate residential mortgages and Home Equity Lines of Credit (“HELOC”) through creation of mortgage-backed securities under the Canadian Mortgage Bond Program (“CMB”), and the HELOC securitization program. Benefits received from the securitization include interest spread between the asset and associated liability. There are no expected credit losses on securitized mortgages under the Canada Mortgage and Housing Corporation (“CMHC”) sponsored CMB and the Platinum Canadian Mortgage Trust (“PCMT”) HELOC securitization programs as they are insured by CMHC and other third-party insurance programs against borrowers’ default. Mortgages securitized in the Platinum Canadian Mortgage Trust II (“PCMT II”) program are uninsured. Cash flows received from the underlying securitized assets/mortgages are used to settle the related secured borrowing liability. For CMB transactions, receipts of principal are deposited into a trust account for settlement of the liability at time of maturity. These transferred assets and related cash flows cannot be transferred or used for other purposes. For the HELOC transactions, investors are entitled to periodic interest payments, and the remaining cash receipts of principal are allocated to the Company (the “Seller”) during the revolving period of the deal and are accumulated for settlement during an accumulation period, or repaid to the investor monthly during a reduction period, based on the terms of the note. The following table presents the carrying amount of securitized assets and secured borrowing liabilities. As at December 31, 2017 Securitized assets Securitization program Securitized Restricted cash and Total Secured borrowing (2) HELOC securitization (1) $ 2,024 $ 8 $ 2,032 $ 2,000 CMB securitization 1,480 – 1,480 1,523 Total $ 3,504 $ 8 $ 3,512 $ 3,523 As at December 31, 2016 Securitized assets Securitization program Securitized Restricted cash and Total Secured borrowing (2) HELOC securitization (1) $ 1,762 $ 8 $ 1,770 $ 1,750 CMB securitization 1,018 – 1,018 1,032 Total $ 2,780 $ 8 $ 2,788 $ 2,782 (1) Manulife Bank, a MFC subsidiary, securitizes a portion of its HELOC receivables through Platinum Canadian Mortgage Trust (“PCMT”), and Platinum Canadian Mortgage Trust II (“PCMT II”). PCMT funds the purchase of the co-ownership co-ownership (2) Secured borrowing liabilities primarily comprise of Series 2011-1 2016-1 Fair value of the securitized assets as at December 31, 2017 was $3,533 (2016 – $2,821) and the fair value of the associated liabilities was $3,503 (2016 – $2,776). (g) Fair value measurement The following table presents fair values and the fair value hierarchy of invested assets and segregated funds net assets measured at fair value in the Consolidated Statements of Financial Position. As at December 31, 2017 Total fair Level 1 Level 2 Level 3 Cash and short-term securities FVTPL $ 439 $ – $ 439 $ – AFS 11,429 – 11,429 – Other 4,097 4,097 – – Debt securities FVTPL Canadian government and agency 17,886 – 17,886 – U.S. government and agency 12,497 – 12,497 – Other government and agency 16,838 – 16,599 239 Corporate 96,785 2 96,073 710 Residential mortgage/asset-backed securities 8 – 7 1 Commercial mortgage/asset-backed securities 1,099 – 1,099 – Other securitized assets 1,911 – 1,886 25 AFS Canadian government and agency 4,892 – 4,892 – U.S. government and agency 13,472 – 13,472 – Other government and agency 2,988 – 2,941 47 Corporate 5,366 – 5,278 88 Residential mortgage/asset-backed securities 37 – 37 – Commercial mortgage/asset-backed securities 138 – 138 – Other securitized assets 83 – 82 1 Public equities FVTPL 18,473 18,470 – 3 AFS 3,072 3,069 3 – Real estate – investment property (1) 12,529 – – 12,529 Other invested assets (2) 16,203 – – 16,203 Segregated funds net assets (3) 324,307 286,490 33,562 4,255 Total $ 564,549 $ 312,128 $ 218,320 $ 34,101 As at December 31, 2016 Total fair Level 1 Level 2 Level 3 Cash and short-term securities FVTPL $ 269 $ – $ 269 $ – AFS 11,705 – 11,705 – Other 3,177 3,177 – – Debt securities FVTPL Canadian government and agency 18,030 – 18,030 – U.S. government and agency 13,971 – 13,971 – Other government and agency 18,629 – 18,357 272 Corporate 87,374 2 86,721 651 Residential mortgage/asset-backed securities 10 – 8 2 Commercial mortgage/asset-backed securities 680 – 674 6 Other securitized assets 2,196 – 2,161 35 AFS Canadian government and agency 6,715 – 6,715 – U.S. government and agency 13,333 – 13,333 – Other government and agency 2,312 – 2,261 51 Corporate 5,041 – 4,967 74 Residential mortgage/asset-backed securities 65 – 64 1 Commercial mortgage/asset-backed securities 123 – 121 2 Other securitized assets 143 – 141 2 Public equities FVTPL 16,531 16,524 – 7 AFS 2,965 2,963 2 – Real estate – investment property (1) 12,756 – – 12,756 Other invested assets (2) 14,849 – – 14,849 Segregated funds net assets (3) 315,177 278,066 32,537 4,574 Total $ 546,051 $ 300,732 $ 212,037 $ 33,282 (1) For investment properties, the significant unobservable inputs are capitalization rates (ranging from 3.50% to 9.00% during the year and ranging from 3.75% to 9.75% during the year 2016) and terminal capitalization rates (ranging from 4.0% to 9.25% during the year and ranging from 4.1% to 10.0% during the year 2016). Holding other factors constant, a lower capitalization or terminal capitalization rate will tend to increase the fair value of an investment property. Changes in fair value based on variations in unobservable inputs generally cannot be extrapolated because the relationship between the directional changes of each input is not usually linear. (2) Other invested assets measured at fair value are held primarily in power and infrastructure and timber sectors. The significant inputs used in the valuation of the Company’s power and infrastructure investments are primarily future distributable cash flows, terminal values and discount rates. Holding other factors constant, an increase to future distributable cash flows or terminal values would tend to increase the fair value of a power and infrastructure investment, while an increase in the discount rate would have the opposite effect. Discount rates during the year ranged from 9.20% to 16.5% (2016 – ranged from 9.63% to 16.0%). Disclosure of distributable cash flow and terminal value ranges are not meaningful given the disparity in estimates by project. The significant inputs used in the valuation of the Company’s investments in timberland are timber prices and discount rates. Holding other factors constant, an increase to timber prices would tend to increase the fair value of a timberland investment, while an increase in the discount rates would have the opposite effect. Discount rates during the year ranged from 5.0% to 7.5% (2016 – ranged from 5.0% to 7.5%). A range of prices for timber is not meaningful as the market price depends on factors such as property location and proximity to markets and export yards. (3) Segregated funds net assets are measured at fair value. The Company’s Level 3 segregated funds assets are predominantly invested in timberland properties valued as described above. For invested assets not measured at fair value in the Consolidated Statements of Financial Position, the following table presents their fair values categorized by the fair value hierarchy. As at December 31, 2017 Carrying Fair value Level 1 Level 2 Level 3 Mortgages (1) $ 44,742 $ 46,065 $ – $ – $ 46,065 Private placements (2) 32,132 34,581 – 28,514 6,067 Policy loans (3) 5,808 5,808 – 5,808 – Loans to Bank clients (4) 1,737 1,742 – 1,742 – Real estate – own use property (5) 1,281 2,448 – – 2,448 Other invested assets (6) 8,280 8,602 88 – 8,514 Total invested assets disclosed at fair value $ 93,980 $ 99,246 $ 88 $ 36,064 $ 63,094 As at December 31, 2016 Carrying Fair value Level 1 Level 2 Level 3 Mortgages (1) $ 44,193 $ 45,665 $ – $ – $ 45,665 Private placements (2) 29,729 31,459 – 26,073 5,386 Policy loans (3) 6,041 6,041 – 6,041 – Loans to Bank clients (4) 1,745 1,746 – 1,746 – Real estate – own use property (5) 1,376 2,524 – – 2,524 Other invested assets (6) 7,911 8,254 54 – 8,200 Total invested assets disclosed at fair value $ 90,995 $ 95,689 $ 54 $ 33,860 $ 61,775 (1) Fair value of commercial mortgages is determined through an internal valuation methodology using both observable and unobservable inputs. Unobservable inputs include credit assumptions and liquidity spread adjustments. Fair value of fixed-rate residential mortgages is determined using the discounted cash flow method. Inputs used for valuation are primarily comprised of prevailing interest rates and prepayment rates, if applicable. Fair value of variable-rate residential mortgages is assumed to be their carrying value. (2) Fair value of private placements is determined through an internal valuation methodology using both observable and unobservable inputs. Unobservable inputs include credit assumptions and liquidity spread adjustments. Private placements are classified within Level 2 unless the liquidity adjustment constitutes a significant price impact, in which case the securities are classified as Level 3. (3) Fair value of policy loans is equal to their unpaid principal balances. (4) Fair value of fixed-rate loans to Bank clients is determined using the discounted cash flow method. Inputs used for valuation are primarily comprised of current interest rates. Fair value of variable-rate loans is assumed to be their carrying value. (5) Fair value of own use real estate and the fair value hierarchy are determined in accordance with the methodologies described for real estate – investment property in note 1. (6) Primarily include leveraged leases, oil and gas properties and equity method accounted other invested assets. Fair value of leveraged leases is disclosed at their carrying values as fair value is not routinely calculated on these investments. Fair value for oil and gas properties is determined using external appraisals based on discounted cash flow methodology. Inputs used in valuation are primarily comprised of forecasted price curves, planned production, as well as capital expenditures, and operating costs. Fair value of equity method accounted other invested assets is determined using a variety of valuation techniques including discounted cash flows and market comparable approaches. Inputs vary based on the specific investment. Transfers between Level 1 and Level 2 The Company records transfers of assets and liabilities between Level 1 and Level 2 at their fair values as at the end of each reporting period. Assets are transferred out of Level 1 when they are no longer transacted with sufficient frequency and volume in an active market. During the year ended December 31, 2017, the Company transferred $nil (2016 – $nil) of assets measured at fair value from Level 1 to Level 2. Conversely, assets are transferred from Level 2 to Level 1 when transaction volume and frequency are indicative of an active market. The Company transferred $nil (2016 – $nil) of assets from Level 2 to Level 1 during the year ended December 31, 2017. For segregated funds net assets, the Company had $nil transfers from Level 1 to Level 2 for the year ended December 31, 2017 (2016 – $8). The Company had $5 transfers from Level 2 to Level 1 for the year ended December 31, 2017 (2016 – $nil). Invested assets and segregated funds net assets measured at fair value using significant unobservable inputs (Level 3) The Company classifies fair values of the invested assets and segregated funds net assets as Level 3 if there are no observable markets for these assets or, in the absence of active markets, the majority of the inputs used to determine fair value are based on the Company’s own assumptions about market participant assumptions. The Company prioritizes the use of market-based inputs over entity-based assumptions in determining Level 3 fair values and, therefore, the gains and losses in the tables below include changes in fair value due to both observable and unobservable factors. The following table presents a roll forward of invested assets and segregated funds net assets measured at fair value using significant unobservable inputs (Level 3) for the years ended December 31, 2017 and 2016. For the year ended Balance, Net (1) Net (2) Purchases Sales (3) Settlements Transfer into Level 3 (4) Transfer out of Level 3 (4) Currency Balance, Change in Debt securities FVTPL Other government & agency $ 272 $ (3 ) $ – $ 26 $ (58 ) $ (6 ) $ – $ – $ 8 $ 239 $ (3 ) Corporate 651 19 – 105 (34 ) (29 ) 24 (21 ) (5 ) 710 10 Residential mortgage/asset-backed securities 2 – – – – – – – (1 ) 1 (1 ) Commercial mortgage/asset-backed securities 6 – – – (5 ) (1 ) – – – – – Other securitized assets 35 (1 ) – – – (7 ) – – (2 ) 25 (1 ) 966 15 – 131 (97 ) (43 ) 24 (21 ) – 975 5 AFS Other government & agency 51 (1 ) (2 ) 14 (15 ) (2 ) 1 – 1 47 – Corporate 74 – 4 22 (10 ) (4 ) – – 2 88 – Residential mortgage/asset-backed securities 1 – (1 ) – – – – – – – – Commercial mortgage/asset-backed securities 2 – – – (1 ) (1 ) – – – – – Other securitized assets 2 – – – – (1 ) – – – 1 – 130 (1 ) 1 36 (26 ) (8 ) 1 – 3 136 – Public equities FVTPL 7 – – – (4 ) – – – – 3 – 7 – – – (4 ) – – – – 3 – Real estate – investment property 12,756 301 – 1,257 (1,267 ) – – – (518 ) 12,529 264 Other invested assets 14,849 395 – 3,022 (435 ) (837 ) – – (791 ) 16,203 244 27,605 696 – 4,279 (1,702 ) (837 ) – – (1,309 ) 28,732 508 Segregated funds net assets 4,574 60 – 261 (248 ) (54 ) – (184 ) (154 ) 4,255 45 Total $ 33,282 $ 770 $ 1 $ 4,707 $ (2,077 ) $ (942 ) $ 25 $ (205 ) $ (1,460 ) $ 34,101 $ 558 For the year ended December 31, 2016 Balance, Net (1) Net (2) Purchases Sales (3) Settlements Transfer into Level 3 (4) Transfer out of Level 3 (4) Currency Balance, Change in Debt securities FVTPL Other government & agency $ 310 $ 3 $ – $ 50 $ (41 ) $ (30 ) $ – $ – $ (20 ) $ 272 $ 1 Corporate 903 (29 ) – 83 (84 ) (134 ) 58 (124 ) (22 ) 651 (4 ) Residential mortgage/asset-backed securities 15 – – – (11 ) (1 ) – – (1 ) 2 1 Commercial mortgage/asset-backed securities 70 – – – (56 ) (4 ) – – (4 ) 6 (3 ) Other securitized assets 48 – – – (1 ) (7 ) – (4 ) (1 ) 35 – 1,346 (26 ) – 133 (193 ) (176 ) 58 (128 ) (48 ) 966 (5 ) AFS Other government & agency 42 – – 18 (6 ) – – – (3 ) 51 – Corporate 90 – (2 ) 29 (32 ) (3 ) – (5 ) (3 ) 74 – Residential mortgage/asset-backed securities 8 (1 ) 1 – (6 ) – – – (1 ) 1 – Commercial mortgage/asset-backed securities 4 – – – – (1 ) – – (1 ) 2 – Other securitized assets 5 – 2 – – (1 ) – (4 ) – 2 – 149 (1 ) 1 47 (44 ) (5 ) – (9 ) (8 ) 130 – Public equities FVTPL – – – 7 – – – – – 7 – – – – 7 – – – – – 7 – Real estate –investment property 13,968 163 – 681 (1,782 ) – – – (274 ) 12,756 197 Other invested assets 12,977 786 9 2,171 (76 ) (685 ) – – (333 ) 14,849 847 26,945 949 9 2,852 (1,858 ) (685 ) – – (607 ) 27,605 1,044 Segregated funds net assets 4,656 92 – 356 (312 ) (19 ) (12 ) (105 ) (82 ) 4,574 93 Total $ 33,096 $ 1,014 $ 10 $ 3,395 $ (2,407 ) $ (885 ) $ 46 $ (242 ) $ (745 ) $ 33,282 $ 1,132 (1) These amounts, except for the amount related to segregated funds net assets, are included in net investment income on the Consolidated Statements of Income. (2) These amounts are included in AOCI on the Consolidated Statements of Financial Position. (3) Sales in 2017 include $619 of U.S. commercial real estate sold to the Hancock US Real Estate Fund, L.P., an associate of the Company which is a structured entity based on partnership voting rights. The Company provides management services to the fund and owns approximately 11.7% of its partnership interests. Also in 2017, sales include US$313 (2016 – $1,011) of U.S. commercial real estate sold to the Manulife US Real Estate Investment Trust in Singapore, an associate of the Company which is a structured entity based on unitholder voting rights. The Company provides management services to the trust and owns approximately 9.5% of its units. (4) For assets transferred into and out of Level 3, the Company uses fair values of the assets at the beginning of the year. Transfers into Level 3 primarily result from securities that were impaired during the year or securities where a lack of observable market data (versus the previous period) resulted in reclassifying assets into Level 3. Transfers from Level 3 primarily result from observable market data now being available for the entire term structure of the debt security.

Derivative and Hedging Instrume

Derivative and Hedging Instruments	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Derivative and Hedging Instruments	Note 5 Derivative and Hedging Instruments Derivatives are financial contracts, the value of which is derived from underlying interest rates, foreign exchange rates, other financial instruments, commodity prices or indices. The Company uses derivatives including swaps, forward and futures agreements, and options to manage current and anticipated exposures to changes in interest rates, foreign exchange rates, commodity prices and equity market prices, and to replicate permissible investments. Swaps are over-the-counter Forward and futures agreements are contractual obligations to buy or sell a financial instrument, foreign currency or other underlying commodity on a predetermined future date at a specified price. Forward contracts are OTC contracts negotiated between counterparties, whereas futures agreements are contracts with standard amounts and settlement dates that are traded on regulated exchanges. Options are contractual agreements whereby the holder has the right, but not the obligation, to buy (call option) or sell (put option) a security, exchange rate, interest rate, or other financial instrument at a predetermined price/rate within a specified time. See variable annuity dynamic hedging strategy in the “Risk Management” section of the Company’s 2017 MD&A for an explanation of the Company’s dynamic hedging strategy for its variable annuity product guarantees. (a) Fair value of derivatives The pricing models used to value OTC derivatives are based on market standard valuation methodologies and the inputs to these models are consistent with what a market participant would use when pricing the instruments. Derivative valuations can be affected by changes in interest rates, currency exchange rates, financial indices, credit spreads, default risk (including the counterparties to the contract), and market volatility. The significant inputs to the pricing models for most OTC derivatives are inputs that are observable or can be corroborated by observable market data and are classified as Level 2. Inputs that are observable generally include interest rates, foreign currency exchange rates and interest rate curves. However, certain OTC derivatives may rely on inputs that are significant to the fair value that are not observable in the market or cannot be derived principally from, or corroborated by, observable market data and these derivatives are classified as Level 3. Inputs that are unobservable generally include broker quotes, volatilities and inputs that are outside of the observable portion of the interest rate curve or other relevant market measures. These unobservable inputs may involve significant management judgment or estimation. Even though unobservable, these inputs are based on assumptions deemed appropriate given the circumstances and consistent with what market participants would use when pricing such instruments. The Company’s use of unobservable inputs is limited and the impact on derivative fair values does not represent a material amount as evidenced by the limited amount of Level 3 derivatives. The credit risk of both the counterparty and the Company are considered in determining the fair value for all OTC derivatives after considering the effects of netting agreements and collateral arrangements. The following table presents the gross notional amount and fair value of derivative contracts by the underlying risk exposure for derivatives in qualifying hedging and derivatives not designated in qualifying hedging relationships. As at December 31, 2017 2016 Notional Fair value Notional Fair value Type of hedge Instrument type Assets Liabilities Assets Liabilities Qualifying hedge accounting relationships Fair value hedges Interest rate swaps $ 548 $ – $ 20 $ 2,158 $ – $ 477 Foreign currency swaps 84 1 4 91 1 3 Cash flow hedges Foreign currency swaps 1,757 20 333 1,285 – 447 Forward contracts 165 – 4 255 – 23 Equity contracts 125 16 1 126 21 1 Total derivatives in qualifying hedge accounting relationships 2,679 37 362 3,915 22 951 Derivatives not designated in qualifying hedge accounting relationships Interest rate swaps 246,270 12,984 6,251 281,188 21,900 10,878 Interest rate futures 11,551 – – 11,616 – – Interest rate options 10,093 312 – 9,390 376 – Foreign currency swaps 16,321 494 1,122 12,226 347 1,645 Currency rate futures 3,157 – – 4,729 – – Forward contracts 20,341 915 65 15,411 340 644 Equity contracts 13,597 813 22 14,989 669 33 Credit default swaps 606 14 – 662 18 – Equity futures 12,158 – – 16,072 – – Total derivatives not designated in qualifying hedge accounting relationships 334,094 15,532 7,460 366,283 23,650 13,200 Total derivatives $ 336,773 $ 15,569 $ 7,822 $ 370,198 $ 23,672 $ 14,151 The following table presents fair value of derivative instruments by remaining term to maturity. Fair values disclosed below do not incorporate the impact of master netting agreements. Refer to note 10. Remaining term to maturity As at December 31, 2017 Less than 1 year 1 to 3 years 3 to 5 years Over 5 years Total Derivative assets $ 605 $ 822 $ 889 $ 13,253 $ 15,569 Derivative liabilities 224 149 168 7,281 7,822 Remaining term to maturity As at December 31, 2016 Less than 1 year 1 to 3 years 3 to 5 years Over 5 years Total Derivative assets $ 467 $ 680 $ 719 $ 21,806 $ 23,672 Derivative liabilities 593 595 511 12,452 14,151 The following table presents gross notional amount by remaining term to maturity, total fair value (including accrued interest), credit risk equivalent and risk-weighted amount by contract type. Remaining term to maturity (notional amounts) Fair value As at December 31, 2017 Under 1 year 1 to 5 years Over 5 years Total Positive Negative Net Credit risk equivalent (1) Risk- weighted amount (2) Interest rate contracts OTC swap contracts $ 7,161 $ 19,141 $ 112,412 $ 138,714 $ 13,379 $ (6,867 ) $ 6,512 $ 6,588 $ 809 Cleared swap contracts 1,615 12,928 93,561 108,104 245 (206 ) 39 – – Forward contracts 6,036 10,614 675 17,325 903 (38 ) 865 285 35 Futures 11,551 – – 11,551 – – – – – Options purchased 816 3,856 5,421 10,093 312 – 312 471 61 Subtotal 27,179 46,539 212,069 285,787 14,839 (7,111 ) 7,728 7,344 905 Foreign exchange Swap contracts 999 4,481 12,682 18,162 510 (1,483 ) (973 ) 1,874 200 Forward contracts 3,046 135 – 3,181 12 (31 ) (19 ) 101 12 Futures 3,157 – – 3,157 – – – – – Credit derivatives 38 568 – 606 14 – 14 – – Equity contracts Swap contracts 2,612 169 – 2,781 60 (14 ) 46 337 35 Futures 12,158 – – 12,158 – – – – – Options purchased 4,693 6,148 100 10,941 769 (10 ) 759 2,606 305 Subtotal including accrued interest 53,882 58,040 224,851 336,773 16,204 (8,649 ) 7,555 12,262 1,457 Less accrued interest – – – – 635 (827 ) (192 ) – – Total $ 53,882 $ 58,040 $ 224,851 $ 336,773 $ 15,569 $ (7,822 ) $ 7,747 $ 12,262 $ 1,457 Remaining term to maturity (notional amounts) Fair value As at December 31, 2016 Under 1 year 1 to 5 years Over 5 years Total Positive Negative Net Credit risk equivalent (1) Risk- weighted amount (2) Interest rate contracts OTC swap contracts $ 13,244 $ 37,395 $ 164,252 $ 214,891 $ 19,327 $ (10,154 ) $ 9,173 $ 10,205 $ 1,493 Cleared swap contracts 717 4,786 62,952 68,455 3,507 (2,117 ) 1,390 – – Interest rate forwards 7,229 6,143 873 14,245 326 (629 ) (303 ) 192 29 Futures 11,616 – – 11,616 – – – – – Options purchased 483 2,927 5,980 9,390 376 – 376 458 70 Subtotal 33,289 51,251 234,057 318,597 23,536 (12,900 ) 10,636 10,855 1,592 Foreign exchange Swap contracts 425 3,917 9,259 13,601 346 (2,120 ) (1,774 ) 1,491 181 Forward contracts 1,257 165 – 1,422 13 (38 ) (25 ) 62 9 Futures 4,729 – – 4,729 – – – – – Credit derivatives 47 615 – 662 18 – 18 – – Equity contracts Swap contracts 3,107 192 – 3,299 64 (35 ) 29 495 54 Futures 16,072 – – 16,072 – – – – – Options purchased 6,007 5,809 – 11,816 626 (2 ) 624 2,735 358 Subtotal including accrued interest 64,933 61,949 243,316 370,198 24,603 (15,095 ) 9,508 15,638 2,194 Less accrued interest – – – – 931 (944 ) (13 ) – – Total $ 64,933 $ 61,949 $ 243,316 $ 370,198 $ 23,672 $ (14,151 ) $ 9,521 $ 15,638 $ 2,194 (1) Credit risk equivalent is the sum of replacement cost and the potential future credit exposure. Replacement cost represents the current cost of replacing all contracts with a positive fair value. The amounts take into consideration legal contracts that permit offsetting of positions. The potential future credit exposure is calculated based on a formula prescribed by OSFI. (2) Risk-weighted amount represents the credit risk equivalent, weighted according to the creditworthiness of the counterparty, as prescribed by OSFI. The total notional amount of $337 billion (2016 – $370 billion) includes $114 billion (2016 – $177 billion) related to derivatives utilized in the Company’s variable annuity guarantee dynamic hedging and macro equity risk hedging programs. Due to the Company’s variable annuity hedging practices, a large number of trades are in offsetting positions, resulting in materially lower net fair value exposure to the Company than what the gross notional amount would suggest. The following table presents fair value of derivative contracts and the fair value hierarchy. As at December 31, 2017 Fair value Level 1 Level 2 Level 3 Derivative assets Interest rate contracts $ 14,199 $ – $ 13,181 $ 1,018 Foreign exchange contracts 527 – 527 – Equity contracts 829 – 768 61 Credit default swaps 14 – 14 – Total derivative assets $ 15,569 $ – $ 14,490 $ 1,079 Derivative liabilities Interest rate contracts $ 6,309 $ – $ 6,012 $ 297 Foreign exchange contracts 1,490 – 1,490 – Equity contracts 23 – 10 13 Total derivative liabilities $ 7,822 $ – $ 7,512 $ 310 As at December 31, 2016 Fair value Level 1 Level 2 Level 3 Derivative assets Interest rate contracts $ 22,602 $ – $ 22,045 $ 557 Foreign exchange contracts 362 – 361 1 Equity contracts 690 – 182 508 Credit default swaps 18 – 18 – Total derivative assets $ 23,672 $ – $ 22,606 $ 1,066 Derivative liabilities Interest rate contracts $ 11,984 $ – $ 11,114 $ 870 Foreign exchange contracts 2,133 – 2,133 – Equity contracts 34 – 1 33 Total derivative liabilities $ 14,151 $ – $ 13,248 $ 903 The following table presents a roll forward for net derivative contracts measured at fair value using significant unobservable inputs (Level 3). For the years ended December 31, 2017 2016 Balance at the beginning of the year $ 163 $ 350 Net realized / unrealized gains (losses) included in: Net income (1) 1,082 47 OCI (2) (9 ) 40 Purchases 22 373 Settlements (103 ) (522 ) Transfers Into Level 3 (3) – – Out of Level 3 (3) (363 ) (116 ) Currency movement (23 ) (9 ) Balance at the end of the year $ 769 $ 163 Change in unrealized gains (losses) on instruments still held $ 832 $ 145 (1) These amounts are included in investment income on the Consolidated Statements of Income. (2) These amounts are included in AOCI on the Consolidated Statements of Financial Position. (3) For derivatives transferred into and out of Level 3, the Company uses the fair value of the items at the end and beginning of the period, respectively. Transfers into Level 3 occur when the inputs used to price the assets and liabilities lack observable market data (versus the previous year). Transfers out of Level 3 occur when the inputs used to price the assets and liabilities become available from observable market data. (b) Hedging relationships The Company uses derivatives for economic hedging purposes. In certain circumstances, these hedges also meet the requirements of hedge accounting. Risk management strategies eligible for hedge accounting are designated as fair value hedges, cash flow hedges or net investment hedges, as described below. Fair value hedges The Company uses interest rate swaps to manage its exposure to changes in the fair value of fixed rate financial instruments due to changes in interest rates. The Company also uses cross currency swaps to manage its exposure to foreign exchange rate fluctuations, interest rate fluctuations, or both. The Company recognizes gains and losses on derivatives and the related hedged items in fair value hedges in investment income. These investment gains (losses) are shown in the following table. For the year ended December 31, 2017 Hedged items in qualifying fair value hedging relationships Gains (losses) Gains (losses) Ineffectiveness Interest rate swaps Fixed rate assets $ 2 $ (3 ) $ (1) Fixed rate liabilities (17 ) 17 – Foreign currency swaps Fixed rate assets (2 ) 4 2 Total $ (17 ) $ 18 $ 1 For the year ended December 31, 2016 Hedged items in qualifying fair value hedging relationships Gains (losses) Gains (losses) Ineffectiveness Interest rate swaps Fixed rate assets $ (52 ) $ 30 $ (22) Fixed rate liabilities (1 ) 1 – Foreign currency swaps Fixed rate assets – 2 2 Total $ (53 ) $ 33 $ (20) Cash flow hedges The Company uses interest rate swaps to hedge the variability in cash flows from variable rate financial instruments and forecasted transactions. The Company also uses cross currency swaps and foreign currency forward contracts to hedge the variability from foreign currency financial instruments and foreign currency expenses. Total return swaps are used to hedge the variability in cash flows associated with certain stock-based compensation awards. Inflation swaps are used to reduce inflation risk generated from inflation-indexed liabilities. The effects of derivatives in cash flow hedging relationships on the Consolidated Statements of Income and the Consolidated Statements of Comprehensive Income are shown in the following table. For the year ended December 31, 2017 Hedged items in qualifying cash flow hedging relationships Gains (losses) Gains (losses) Ineffectiveness income Interest rate swaps Forecasted liabilities $ – $ (17 ) $ – Foreign currency swaps Fixed rate assets 3 (1 ) – Floating rate liabilities 95 50 – Fixed rate liabilities 35 7 – Forward contracts Forecasted expenses 10 (10 ) – Equity contracts Stock-based compensation 20 29 – Total $ 163 $ 58 $ – For the year ended December 31, 2016 Hedged items in qualifying cash flow hedging relationships Gains (losses) Gains (losses) Ineffectiveness Interest rate swaps Forecasted liabilities $ – $ (18 ) $ – Foreign currency swaps Fixed rate assets (4 ) – – Floating rate liabilities 47 23 – Fixed rate liabilities (15 ) (8 ) – Forward contracts Forecasted expenses 7 (14 ) – Equity contracts Stock-based compensation 39 (1 ) – Non-derivative Forecasted expenses – 3 – Total $ 74 $ (15 ) $ – The Company anticipates that net losses of approximately $13 will be reclassified from AOCI to net income within the next 12 months. The maximum time frame for which variable cash flows are hedged is 19 years. Hedges of net investments in foreign operations The Company primarily uses forward currency contracts, cross currency swaps and non-functional The effects of net investment hedging relationships on the Consolidated Statements of Income and the Consolidated Statements of Other Comprehensive Income are shown in the following table. For the year ended December 31, 2017 Gains (losses) Gains (losses) Ineffectiveness Non-functional $ 355 $ – $ – Total $ 355 $ – $ – For the year ended December 31, 2016 Gains (losses) Gains (losses) Ineffectiveness Non-functional $ (25 ) $ – $ – Total $ (25 ) $ – $ – (c) Derivatives not designated in qualifying hedge accounting relationships Derivatives used in portfolios supporting insurance contract liabilities are generally not designated in qualifying hedge accounting relationships because the change in the value of the insurance contract liabilities economically hedged by these derivatives is also recorded through net income. Given the changes in fair value of these derivatives and related hedged risks are recognized in investment income as they occur, they generally offset the change in hedged risk to the extent the hedges are economically effective. Interest rate and cross currency swaps are used in the portfolios supporting insurance contract liabilities to manage duration and currency risks. The effects of derivatives not designated in qualifying hedge accounting relationships on the Consolidated Statements of Income are shown in the following table. For the years ended December 31, 2017 2016 Investment income (loss) Interest rate swaps $ (927 ) $ (141 ) Interest rate futures 372 (26 ) Interest rate options (96 ) (11 ) Foreign currency swaps 529 (14 ) Currency rate futures (92 ) 263 Forward contracts 1,231 (88 ) Equity futures (2,190 ) (2,387 ) Equity contracts 153 (171 ) Credit default swaps (4 ) 1 Total $ (1,024) $ (2,574 ) (d) Embedded derivatives Certain insurance contracts contain features that are classified as embedded derivatives and are measured separately at FVTPL including reinsurance contracts related to guaranteed minimum income benefits and contracts containing certain credit and interest rate features. Certain reinsurance contracts related to guaranteed minimum income benefits contain embedded derivatives requiring separate measurement at FVTPL as the financial component contained in the reinsurance contracts does not contain significant insurance risk. As at December 31, 2017, reinsurance ceded guaranteed minimum income benefits had a fair value of $1,079 (2016 – $1,408) and reinsurance assumed guaranteed minimum income benefits had a fair value of $100 (2016 – $119). Claims recovered under reinsurance ceded contracts offset claims expenses and claims paid on the reinsurance assumed are reported as contract benefits. The Company’s credit and interest rate embedded derivatives promise to pay the returns on a portfolio of assets to the contract holder. These embedded derivatives contain a credit and interest rate risk that is a financial risk embedded in the underlying insurance contract. As at December 31, 2017, these embedded derivatives had a fair value of $123 (2016 – $218). Other financial instruments classified as embedded derivatives but exempt from separate measurement at fair value include variable universal life and variable life products, minimum guaranteed credited rates, no lapse guarantees, guaranteed annuitization options, CPI indexing of benefits, and segregated fund minimum guarantees other than reinsurance ceded/assumed guaranteed minimum income benefits. These embedded derivatives are measured and reported within insurance contract liabilities and are exempt from separate fair value measurement as they contain insurance risk and/or are closely related to the insurance host contract.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Income Taxes	Note 6 Income Taxes (a) Components of the income tax expense (recovery) Income tax expenses (recovery) recognized in the Consolidated Statements of Income: For the years ended December 31, 2017 2016 Current tax Current year $ 608 $ 659 Adjustments to prior year (1) (38 ) (228 ) 570 431 Deferred tax Change related to temporary differences (803 ) (235 ) Impact of U.S. Tax Reform 472 – Income tax expense $ 239 $ 196 (1) Adjustments relating to closure of multiple taxation years Income tax expenses (recovery) recognized in Other Comprehensive Income (“OCI”): For the years ended December 31, 2017 2016 Current income tax expense (recovery) $ 116 $ (72 ) Deferred income tax expense (recovery) 320 (25 ) Income tax expense (recovery) $ 436 $ (97 ) Income tax expenses (recovery) recognized directly in Equity: For the years ended December 31, 2017 2016 Current income tax expense (recovery) $ – $ (2 ) Deferred income tax expense (recovery) (2 ) (2 ) Income tax expense (recovery) $ (2 ) $ (4 ) The effective income tax rate reflected in the Consolidated Statements of Income varies from the Canadian tax rate of 26.75 per cent for the year ended December 31, 2017 (2016 – 26.75 per cent) and the reasons are disclosed below. Reconciliation of income tax expense For the years ended December 31, 2017 2016 Income before income taxes $ 2,501 $ 3,329 Income tax expense at Canadian statutory tax rate $ 669 $ 890 Increase (decrease) in income taxes due to: Tax-exempt (242 ) (229 ) Differences in tax rate on income not subject to tax in Canada (551 ) (366 ) Recovery of unrecognized tax losses of prior years – (10 ) Adjustments to taxes related to prior years (182 ) (206 ) Tax losses and temporary differences not recognized as deferred taxes 14 22 Impact of U.S. Tax Reform 472 – Other differences 59 95 Income tax expense $ 239 $ 196 Impact of U.S. Tax Reform On December 22, 2017, the U.S. government enacted new tax legislation effective January 1, 2018. The legislation makes broad and complex changes to the U.S. tax code and accordingly it will take time to assess and interpret the changes. Based on a preliminary understanding of the new legislation, the Company recorded a provisional charge of $1.8 billion, after-tax, for the estimated impact of U.S. Tax Reform on policyholder liabilities and net deferred tax assets, including the reduction in the U.S. federal corporate income tax rate and the impact of specific life insurance regulations which limits the deductibility of reserves for U.S. federal income tax purposes. This provisional charge may change materially in the future, following a more comprehensive review of the legislation, including changes in interpretations and tax assumptions made in the valuation of policy liabilities as well as implementation of and guidance from the Internal Revenue Service and other bodies, and as a result of any future changes or amendments to that legislation. Refer to note 8(g) for the impact of U.S. Tax Reform on the Company’s insurance contract liabilities. (b) Current tax receivable and payable As at December 31, 2017, the Company has approximately $778 of current tax receivable included in other assets (2016 – $446) and a current tax payable of $178 included in other liabilities (2016 – $387). (c) Deferred tax assets and liabilities The following table presents the Company’s deferred tax assets and liabilities. As at December, 31 2017 2016 Deferred tax assets $ 4,569 $ 4,439 Deferred tax liabilities (1,281 ) (1,359 ) Net deferred tax assets $ 3,288 $ 3,080 The following table presents significant components of the Company’s deferred tax assets and liabilities. As at December 31, 2017 Balance, Recognized Recognized in Recognized Translation Balance, Loss carry forwards $ 942 $ (311 ) $ – $ 3 $ (38 ) $ 596 Actuarial liabilities 9,366 (1,053 ) (17 ) – (418 ) 7,878 Pensions and post-employment benefits 352 (87 ) (54 ) – (3 ) 208 Tax credits 875 (369 ) – – (52 ) 454 Accrued interest 17 (12 ) – (3 ) (1 ) 1 Real estate (1,396 ) 284 (9 ) – 59 (1,062 ) Securities and other investments (6,064 ) 2,172 (239 ) – 324 (3,807 ) Sale of investments (163 ) 58 – – – (105 ) Goodwill and intangible assets (1,059 ) 197 – – 37 (825 ) Other 210 (548 ) (1 ) 2 287 (50 ) Total $ 3,080 $ 331 $ (320) $ 2 $ 195 $ 3,288 As at December 31, 2016 Balance, Recognized Recognized in Recognized Translation Balance, Loss carry forwards $ 1,493 $ (515 ) $ – $ – $ (36 ) $ 942 Actuarial liabilities 9,448 244 (5 ) (116 ) (205 ) 9,366 Pensions and post-employment benefits 329 100 (79 ) – 2 352 Tax credits 750 147 – – (22 ) 875 Accrued interest 121 (100 ) – – (4 ) 17 Real estate (1,812 ) 373 – – 43 (1,396 ) Securities and other investments (6,218 ) (243 ) 113 112 172 (6,064 ) Sale of investments (200 ) 37 – – – (163 ) Goodwill and intangible assets (1,138 ) 58 – – 21 (1,059 ) Other 59 134 (4 ) 6 15 210 Total $ 2,832 $ 235 $ 25 $ 2 $ (14 ) $ 3,080 The total deferred tax assets as at December 31, 2017 of $4,569 (2016 – $4,439) include $4,527 (2016 – $4,403) where the Company has suffered losses in either the current or preceding year and where the recognition is dependent on future taxable profits in the relevant jurisdictions and feasible management actions. As at December 31, 2017, tax loss carryforwards available were approximately $3,164 (2016 – $3,556) of which $2,109 expire between the years 2020 and 2037 while $159 have no expiry date, and capital loss carryforwards available were approximately $8 (2016 – $9) and have no expiry date. A $596 (2016 – $942) tax benefit related to these tax loss carryforwards has been recognized as a deferred tax asset as at December 31, 2017, and a benefit of $171 (2016 – $139) has not been recognized. In addition, the Company has approximately $606 (2016 – $1,039) of tax credit carryforwards which will expire between the years 2030 and 2037 of which a benefit of $152 (2016 – $164) has not been recognized. The total deferred tax liability as at December 31, 2017 was $1,281 (2016 – $1,359). This amount includes the deferred tax liability of consolidated entities. The aggregate amount of taxable temporary differences associated with the Company’s own investments in subsidiaries is not included in the Consolidated Financial Statements and was $11,780 (2016 – $13,102).

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Goodwill and Intangible Assets	Note 7 Goodwill and Intangible Assets (a) Carrying amounts of goodwill and intangible assets As at December 31, 2017 Balance, Additions/ Amortization Effect of changes Balance, Goodwill $ 5,884 $ – $ n/a $ (171 ) $ 5,713 Indefinite life intangible assets Brand 805 – n/a (52 ) 753 Fund management contracts and other (1) 785 – n/a (30 ) 755 1,590 – n/a (82 ) 1,508 Finite life intangible assets (2) Distribution networks 1,093 – 47 (57 ) 989 Customer relationships 969 – 56 (14 ) 899 Software 494 306 121 (18 ) 661 Other 77 – 5 (2 ) 70 2,633 306 229 (91 ) 2,619 Total intangible assets 4,223 306 229 (173 ) 4,127 Total goodwill and intangible assets $ 10,107 $ 306 $ 229 $ (344 ) $ 9,840 As at December 31, 2016 Balance, Additions (3) (4) Amortization Effect of changes Balance, Goodwill $ 5,685 $ 256 $ n/a $ (57 ) $ 5,884 Indefinite life intangible assets Brand 831 – n/a (26 ) 805 Fund management contracts and other (1) 723 76 n/a (14 ) 785 1,554 76 n/a (40 ) 1,590 Finite life intangible assets (2) Distribution networks 726 450 50 (33 ) 1,093 Customer relationships 947 79 53 (4 ) 969 Software 396 229 126 (5 ) 494 Other 76 6 5 – 77 2,145 764 234 (42 ) 2,633 Total intangible assets 3,699 840 234 (82 ) 4,223 Total goodwill and intangible assets $ 9,384 $ 1,096 $ 234 $ (139 ) $ 10,107 (1) For fund management contracts, the significant CGUs to which these were allocated and their associated carrying values were John Hancock Investments and Retirement Plan Services with $367 (2016 – $393) and Canadian Wealth (excluding Manulife Bank of Canada) with $273 (2016 – $273). (2) Gross carrying amount of finite life intangible assets was $1,294 for distribution networks, $1,128 for customer relationships, $1,841 for software and $126 for other (2016 – $1,363, $1,142, $1,581 and $133, respectively). (3) In 2016, acquisitions of Standard Chartered’s MPF business in Hong Kong and Transamerica’s broker-dealer business in the USA led to additions of goodwill of $194 and $59 and intangible assets of $193 and $26, respectively. Commencement of sales through the DBS relationship led to recognition of $536 of distribution networks. (4) In 2016, disposals include impairments of distribution networks for discontinued products of $150 in the U.S. Division. (b) Goodwill impairment testing In the fourth quarter of 2017, the Company completed its annual goodwill impairment testing by determining the recoverable amounts of its businesses using valuation techniques discussed below or based on the most recent detailed similar calculations made in a prior period (refer to notes 1(f) and 7(c)). The Company has determined that there was no impairment of goodwill in 2017 and 2016. The Company allocates goodwill to cash-generating units (“CGU”) or groups of CGUs. Factors considered when identifying the Company’s CGUs include how the Company is organized to interact with customers, how products are presented and sold, and where interdependencies exist. The following tables present the carrying value of goodwill by CGUs. As at December 31, 2017 CGU or Group of CGUs Balance, 2017 Additions/ Effect of Balance, 2017 Asia (excluding Hong Kong and Japan) $ 160 $ – $ (6 ) $ 154 Hong Kong 194 – (14 ) 180 Japan Insurance and Wealth 403 – (12 ) 391 Canadian Individual Life 155 – – 155 Canadian Affinity Markets 83 – – 83 Canadian Wealth (excluding Manulife Bank) 1,085 – – 1,085 Canadian Group Benefits and Group Retirement Solutions 1,773 – – 1,773 International Group Program 90 – (6 ) 84 John Hancock Insurance 428 – (28 ) 400 John Hancock Investments and Retirement Plan Services 1,220 – (99 ) 1,121 Manulife Asset Management and Other 293 – (6 ) 287 Total $ 5,884 $ – $ (171 ) $ 5,713 As at December 31, 2016 CGU or Group of CGUs Balance, 2016 Additions/ Effect of Balance, 2016 Asia (excluding Hong Kong and Japan) $ 166 $ – $ (6 ) $ 160 Hong Kong – 194 – 194 Japan Insurance and Wealth 404 – (1 ) 403 Canadian Individual Life 155 – – 155 Canadian Affinity Markets 83 – – 83 Canadian Wealth (excluding Manulife Bank) 1,085 – – 1,085 Canadian Group Benefits and Group Retirement Solutions 1,773 – – 1,773 International Group Program 93 – (3 ) 90 John Hancock Insurance 378 59 (9 ) 428 John Hancock Investments and Retirement Plan Services 1,254 3 (37 ) 1,220 Manulife Asset Management and Other 294 – (1 ) 293 Total $ 5,685 $ 256 $ (57 ) $ 5,884 The valuation techniques, significant assumptions and sensitivities, where applicable, applied in the goodwill impairment testing are described below. (c) Valuation techniques The recoverable amount of each CGU or group of CGUs was based on value-in-use Under the VIU approach, an embedded appraisal value is determined from a projection of future distributable earnings derived from both the in-force Under the FVLCS approach, the Company determines the fair value of the CGU or group of CGUs using an earnings-based approach which incorporates forecasted earnings, excluding interest and equity market impacts and normalized new business expenses multiplied by an earnings multiple derived from the observable price-to-earnings price-to-earnings (d) Significant assumptions To calculate embedded value, the Company discounted projected earnings from in-force Interest rate assumptions are based on prevailing market rates at the valuation date. Tax rates applied to the projections include the impact of internal reinsurance treaties and amounted to 26.8 per cent, 35 per cent and 28.1 per cent (2016 – 26.8 per cent, 35 per cent and 28.2 per cent) for the Canadian, U.S. and Japan jurisdictions, respectively. Tax assumptions are sensitive to changes in tax laws as well as assumptions about the jurisdictions in which profits are earned. It is possible that actual tax rates could differ from those assumed. Discount rates assumed in determining the value-in-use after-tax pre-tax after-tax pre-tax The key assumptions described above may change as economic and market conditions change, which may lead to impairment charges in the future. Changes in discount rates and cash flow projections used in the determination of embedded values or reductions in market-based earnings multiples may result in impairment charges in the future which could be material.

Insurance Contract Liabilities

Insurance Contract Liabilities and Reinsurance Assets	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Insurance Contract Liabilities and Reinsurance Assets	Note 8 Insurance Contract Liabilities and Reinsurance Assets (a) Insurance contract liabilities and reinsurance assets Insurance contract liabilities are reported gross of reinsurance ceded and the ceded liabilities are reported separately as a reinsurance asset. Insurance contract liabilities include actuarial liabilities, benefits payable, provision for unreported claims and policyholder amounts on deposit. The components of gross and net insurance contract liabilities are shown below. As at December 31, 2017 2016 Gross insurance contract liabilities $ 291,767 $ 284,778 Gross benefits payable and provision for unreported claims 3,376 3,309 Gross policyholder amounts on deposit 9,462 9,418 Gross insurance contract liabilities 304,605 297,505 Reinsurance assets (30,359 ) (34,952 ) Net insurance contract liabilities $ 274,246 $ 262,553 Net insurance contract liabilities represent the amount which, together with estimated future premiums and net investment income, will be sufficient to pay estimated future benefits, policyholder dividends and refunds, taxes (other than income taxes) and expenses on policies in-force Net insurance contract liabilities are determined using CALM, as required by the Canadian Institute of Actuaries. The determination of net insurance contract liabilities is based on an explicit projection of cash flows using current assumptions for each material cash flow item. Investment returns are projected using the current asset portfolios and projected reinvestment strategies. Each assumption is based on the best estimate adjusted by a margin for adverse deviation. For fixed income returns, this margin is established by scenario testing a range of prescribed and company-developed scenarios consistent with Canadian Actuarial Standards of Practice. For all other assumptions, this margin is established by directly adjusting the best estimate assumption. Cash flows used in the net insurance contract liabilities valuation adjust the gross policy cash flows to reflect projected cash flows from ceded reinsurance. The cash flow impact of ceded reinsurance varies depending upon the amount of reinsurance, the structure of reinsurance treaties, the expected economic benefit from treaty cash flows and the impact of margins for adverse deviation. Gross insurance contract liabilities are determined by discounting gross policy cash flows using the same discount rate as the net CALM model discount rate. The reinsurance asset is determined by taking the difference between the gross insurance contract liabilities and the net insurance contract liabilities. The reinsurance asset represents the benefit derived from reinsurance arrangements in force at the date of the Consolidated Statements of Financial Position. The period used for the projection of cash flows is the policy lifetime for most individual insurance contracts. For other types of contracts, a shorter projection period may be used, with the contract generally ending at the earlier of the first renewal date on or after the Consolidated Statements of Financial Position date where the Company can exercise discretion in renewing its contractual obligations or terms of those obligations and the renewal or adjustment date that maximizes the insurance contract liabilities. For segregated fund products with guarantees, the projection period is generally set as the period that leads to the largest insurance contract liability. Where the projection period is less than the policy lifetime, insurance contract liabilities may be reduced by an allowance for acquisition expenses expected to be recovered from policy cash flows beyond the projection period used for the liabilities. Such allowances are tested for recoverability using assumptions that are consistent with other components of the actuarial valuation. (b) Composition The composition of insurance contract liabilities and reinsurance assets by line of business and reporting segment is as follows. Gross insurance contract liabilities Individual insurance As at December 31, 2017 Participating Non- participating Annuities Other (1) Total, net of Total Total, Asia division $ 32,737 $ 22,705 $ 4,366 $ 2,435 $ 62,243 $ 911 $ 63,154 Canadian division 11,132 34,091 19,141 11,834 76,198 (676 ) 75,522 U.S. division 8,569 57,599 26,161 43,522 135,851 29,952 165,803 Corporate and Other – (515 ) 48 421 (46 ) 172 126 Total, net of reinsurance ceded 52,438 113,880 49,716 58,212 274,246 $ 30,359 $ 304,605 Total reinsurance ceded 11,492 11,238 6,539 1,090 30,359 Total, gross of reinsurance ceded $ 63,930 $ 125,118 $ 56,255 $ 59,302 $ 304,605 Individual insurance As at December 31, 2016 Participating Non- participating Annuities Other (1) Total, net of Total Total, Asia division $ 29,520 $ 18,799 $ 3,599 $ 2,649 $ 54,567 $ 880 $ 55,447 Canadian division 10,974 31,790 19,620 11,000 73,384 593 73,977 U.S. division 9,419 56,484 28,529 40,760 135,192 33,220 168,412 Corporate and Other – (833 ) 62 181 (590 ) 259 (331 ) Total, net of reinsurance ceded 49,913 106,240 51,810 54,590 262,553 $ 34,952 $ 297,505 Total reinsurance ceded 13,558 12,122 8,159 1,113 34,952 Total, gross of reinsurance ceded $ 63,471 $ 118,362 $ 59,969 $ 55,703 $ 297,505 (1) Other insurance contract liabilities include group insurance and individual and group health including long-term care insurance. Separate sub-accounts in-force sub-accounts (c) Assets backing insurance contract liabilities, other liabilities and capital Assets are segmented and matched to liabilities with similar underlying characteristics by product line and major currency. The Company has established target investment strategies and asset mixes for each asset segment supporting insurance contract liabilities which take into account the risk attributes of the liabilities supported by the assets and expectations of market performance. Liabilities with rate and term guarantees are predominantly backed by fixed-rate instruments on a cash flow matching basis for a targeted duration horizon. Longer duration cash flows on these liabilities as well as on adjustable products such as participating life insurance are backed by a broader range of asset classes, including equity and alternative long-duration investments. The Company’s capital is invested in a range of debt and equity investments, both public and private. Changes in the fair value of assets backing net insurance contract liabilities, that the Company considers to be other than temporary, would have a limited impact on the Company’s net income wherever there is an effective matching of assets and liabilities, as these changes would be substantially offset by corresponding changes in the value of net insurance contract liabilities. The fair value of assets backing net insurance contract liabilities as at December 31, 2017, excluding reinsurance assets, was estimated at $278,521 (2016 – $266,119). The fair value of assets backing capital and other liabilities as at December 31, 2017 was estimated at $456,278 (2016 – $459,256). The carrying value of total assets backing net insurance contract liabilities, other liabilities and capital was as follows. Individual insurance As at December 31, 2017 Participating Non- participating Annuities Other insurance (1) Other (2) Capital (3) Total Assets Debt securities $ 27,946 $ 63,128 $ 26,621 $ 25,211 $ 6,635 $ 24,459 $ 174,000 Public equities 9,264 5,855 171 332 1,029 4,894 21,545 Mortgages 2,017 10,286 7,009 6,891 18,476 63 44,742 Private placements 3,645 12,128 8,059 7,739 367 194 32,132 Real estate 2,963 6,198 1,136 2,516 769 228 13,810 Other 6,603 16,285 6,720 15,523 377,352 20,821 443,304 Total $ 52,438 $ 113,880 $ 49,716 $ 58,212 $ 404,628 $ 50,659 $ 729,533 Individual insurance As at December 31, 2016 Participating Non- participating Annuities Other insurance (1) Other (2) Capital (3) Total Assets Debt securities $ 27,473 $ 56,765 $ 26,331 $ 23,012 $ 9,965 $ 25,076 $ 168,622 Public equities 8,055 5,401 213 351 732 4,744 19,496 Mortgages 2,110 10,008 8,135 5,554 18,311 75 44,193 Private placements 3,277 10,823 7,096 7,070 1,272 191 29,729 Real estate 2,811 6,397 1,480 2,561 613 270 14,132 Other 6,187 16,846 8,555 16,042 377,000 19,879 444,509 Total $ 49,913 $ 106,240 $ 51,810 $ 54,590 $ 407,893 $ 50,235 $ 720,681 (1) Other insurance contract liabilities include group insurance and individual and group health including long-term care insurance. (2) Other liabilities are non-insurance (3) Capital is defined in note 14. (d) Significant insurance contract liability valuation assumptions The determination of insurance contract liabilities involves the use of estimates and assumptions. Insurance contract liabilities have two major components: a best estimate amount and a provision for adverse deviation. Best estimate assumptions Best estimate assumptions are made with respect to mortality and morbidity, investment returns, rates of policy termination, operating expenses and certain taxes. Actual experience is monitored to ensure that assumptions remain appropriate and assumptions are changed as warranted. Assumptions are discussed in more detail in the following table. Nature of factor and assumption methodology Risk management Mortality and morbidity Mortality relates to the occurrence of death. Mortality is a key assumption for life insurance and certain forms of annuities. Mortality assumptions are based on the Company’s internal experience as well as past and emerging industry experience. Assumptions are differentiated by sex, underwriting class, policy type and geographic market. Assumptions are made for future mortality improvements. Morbidity relates to the occurrence of accidents and sickness for insured risks. Morbidity is a key assumption for long-term care insurance, disability insurance, critical illness and other forms of individual and group health benefits. Morbidity assumptions are based on the Company’s internal experience as well as past and emerging industry experience and are established for each type of morbidity risk and geographic market. Assumptions are made for future morbidity improvements. The Company maintains underwriting standards to determine the insurability of applicants. Claim trends are monitored on an ongoing basis. Exposure to large claims is managed by establishing policy retention limits, which vary by market and geographic location. Policies in excess of the limits are reinsured with other companies. Mortality is monitored monthly and the overall 2017 experience was unfavourable (2016 – unfavourable) when compared to the Company’s assumptions. Morbidity is also monitored monthly and the overall 2017 experience was unfavourable (2016 – unfavourable) when compared to the Company’s assumptions. Investment returns The Company segments assets to support liabilities by business segment and geographic market and establishes investment strategies for each liability segment. Projected cash flows from these assets are combined with projected cash flows from future asset purchases/sales to determine expected rates of return on these assets for future years. Investment strategies are based on the target investment policies for each segment and the reinvestment returns are derived from current and projected market rates for fixed income investments and a projected outlook for other alternative long-duration assets. Investment return assumptions include expected future asset credit losses on fixed income investments. Credit losses are projected based on past experience of the Company and industry as well as specific reviews of the current investment portfolio. Investment return assumptions for each asset class and geographic market also incorporate expected investment management expenses that are derived from internal cost studies. The costs are attributed to each asset class to develop unitized assumptions per dollar of asset for each asset class and geographic market. The Company’s policy of closely matching asset cash flows with those of the corresponding liabilities is designed to mitigate the Company’s exposure to future changes in interest rates. The interest rate risk positions in business segments are monitored on an ongoing basis. Under CALM, the reinvestment rate is developed using interest rate scenario testing and reflects the interest rate risk positions. In 2017, the movement in interest rates negatively (2016 –negatively) impacted the Company’s net income. This negative impact was driven by reductions in corporate spreads and increase in swap spreads, partially offset by the impact of risk free interest rate movements on policy liabilities. The exposure to credit losses is managed against policies that limit concentrations by issuer, corporate connections, ratings, sectors and geographic regions. On participating policies and some non-participating In 2017, credit loss experience on debt securities and mortgages was favourable (2016 – favourable) when compared to the Company’s assumptions. Equities, real estate and other alternative long-duration assets are used to support liabilities where investment return experience is passed back to policyholders through dividends or credited investment return adjustments. Equities, real estate, oil and gas and other alternative long-duration assets are also used to support long-dated obligations in the Company’s annuity and pension businesses and for long-dated insurance obligations on contracts where the investment return risk is borne by the Company. In 2017, investment experience on alternative long-duration assets backing policyholder liabilities was unfavourable (2016 – unfavourable) primarily due to losses on real estate, oil and gas properties and timber and agriculture properties, partially offset by gains on private equities. In 2017, alternative long-duration asset origination exceeded (2016 –exceeded) valuation requirements. In 2017, for the business that is dynamically hedged, segregated fund guarantee experience on residual, non-dynamically In 2017, investment expense experience was unfavourable (2016 – favourable) when compared to the Company’s assumptions. Policyholder behaviour Policies are terminated through lapses and surrenders, where lapses represent the termination of policies due to non-payment The Company seeks to design products that minimize financial exposure to lapse, surrender and other policyholder behaviour risk. The Company monitors lapse, surrender and other policyholder behaviour experience. In aggregate, 2017 policyholder behaviour experience was unfavourable (2016 – unfavourable) when compared to the Company’s assumptions used in the computation of actuarial liabilities. Expenses and taxes Operating expense assumptions reflect the projected costs of maintaining and servicing in-force Taxes reflect assumptions for future premium taxes and other non-income The Company prices its products to cover the expected costs of servicing and maintaining them. In addition, the Company monitors expenses monthly, including comparisons of actual expenses to expense levels allowed for in pricing and valuation. Maintenance expenses for 2017 were unfavourable (2016 –unfavourable) when compared to the Company’s assumptions used in the computation of actuarial liabilities. The Company prices its products to cover the expected cost of taxes. Policyholder dividends, experience rating refunds, and other adjustable policy elements The best estimate projections for policyholder dividends and experience rating refunds, and other adjustable elements of policy benefits are determined to be consistent with management’s expectation of how these elements will be managed should experience emerge consistently with the best estimate assumptions used for mortality and morbidity, investment returns, rates of policy termination, operating expenses and taxes. The Company monitors policy experience and adjusts policy benefits and other adjustable elements to reflect this experience. Policyholder dividends are reviewed annually for all businesses under a framework of Board-approved policyholder dividend policies. Foreign currency Foreign currency risk results from a mismatch of the currency of liabilities and the currency of the assets designated to support these obligations. Where a currency mismatch exists, the assumed rate of return on the assets supporting the liabilities is reduced to reflect the potential for adverse movements in foreign exchange rates. The Company generally matches the currency of its assets with the currency of the liabilities they support, with the objective of mitigating the risk of loss arising from movements in currency exchange rates. The Company’s practice is to review actuarial assumptions on an annual basis as part of its review of methods and assumptions. Where changes are made to assumptions (refer to note 8(h)), the full impact is recognized in income immediately. (e) Sensitivity of insurance contract liabilities to changes in non-economic The sensitivity of net income attributed to shareholders to changes in non-economic In practice, experience for each assumption will frequently vary by geographic market and business and assumption updates are made on a business/geographic specific basis. Actual results can differ materially from these estimates for a variety of reasons including the interaction among these factors when more than one changes; changes in actuarial and investment return and future investment activity assumptions; changes in business mix, effective tax rates and other market factors; and the general limitations of internal models. Potential impact on net income attributed to shareholders arising from changes to non-economic (1),(2) As at December 31, Decrease in net income 2017 2016 Policy related assumptions 2% adverse change in future mortality rates (3),(5) Products where an increase in rates increases insurance contract liabilities $ (400 ) $ (400 ) Products where a decrease in rates increases insurance contract liabilities (400 ) (500 ) 5% adverse change in future morbidity rates (4),(5) (3,900 ) (3,700 ) 10% adverse change in future termination rates (5) (2,000 ) (1,900 ) 5% increase in future expense levels (500 ) (500 ) (1) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018. (2) The participating policy funds are largely self-supporting and generate no material impact on net income attributed to shareholders as a result of changes in non-economic (3) An increase in mortality rates will generally increase policy liabilities for life insurance contracts whereas a decrease in mortality rates will generally increase policy liabilities for policies with longevity risk such as payout annuities. (4) No amounts related to morbidity risk are included for policies where the policy liability provides only for claims costs expected over a short period, generally less than one year, such as Group Life and Health. (5) The impacts of the sensitivities on long-term care for morbidity, mortality and lapse are assumed to be moderated by partial offsets from the Company’s ability to contractually raise premium rates in such events, subject to state regulatory approval. (f) Provision for adverse deviation assumptions The assumptions made in establishing insurance contract liabilities reflect expected best estimates of future experience. To recognize the uncertainty in these best estimate assumptions, to allow for possible misestimation of and deterioration in experience and to provide a greater degree of assurance that the insurance contract liabilities are adequate to pay future benefits, the Appointed Actuary is required to include a margin in each assumption. Margins are released into future earnings as the policy is released from risk. Margins for interest rate risk are included by testing a number of scenarios of future interest rates. The margin can be established by testing a limited number of scenarios, some of which are prescribed by the Canadian Actuarial Standards of Practice, and determining the liability based on the worst outcome. Alternatively, the margin can be set by testing many scenarios, which are developed according to actuarial guidance. Under this approach the liability would be the average of the outcomes above a percentile in the range prescribed by the Canadian Actuarial Standards of Practice. Specific guidance is also provided for other risks such as market, credit, mortality and morbidity risks. For other risks which are not specifically addressed by the Canadian Institute of Actuaries, a range is provided of five per cent to 20 per cent of the expected experience assumption. The Company uses assumptions within the permissible ranges, with the determination of the level set considering the risk profile of the business. On occasion, in specific circumstances for additional prudence, a margin may exceed the high end of the range, which is permissible under the Canadian Actuarial Standards of Practice. This additional margin would be released if the specific circumstances which led to it being established were to change. Each margin is reviewed annually for continued appropriateness. (g) Change in insurance contract liabilities The change in insurance contract liabilities was a result of the following business activities and changes in actuarial estimates. For the year ended December 31, 2017 Net actuarial Other (1) Net Reinsurance Gross Balance, January 1 $ 251,738 $ 10,815 $ 262,553 $ 34,952 $ 297,505 New policies (2) 3,545 – 3,545 441 3,986 Normal in-force (2) 15,192 930 16,122 (3,097 ) 13,025 Changes in methods and assumptions (2) 305 (28 ) 277 47 324 Impact of U.S. Tax Reform (2),(3) 2,246 – 2,246 – 2,246 Increase due to decision to change the portfolio asset mix supporting legacy businesses (2),(4) 1,340 – 1,340 43 1,383 Impact of changes in foreign exchange rates (11,275 ) (562 ) (11,837 ) (2,027 ) (13,864 ) Balance, December 31 $ 263,091 $ 11,155 $ 274,246 $ 30,359 $ 304,605 For the year ended December 31, 2016 Net actuarial Other (1) Net Reinsurance Gross Balance, January 1 $ 239,812 $ 10,050 $ 249,862 $ 35,426 $ 285,288 New policies (5) 3,617 – 3,617 294 3,911 Normal in-force (5) 12,579 1,094 13,673 (405 ) 13,268 Changes in methods and assumptions (5) 709 (54 ) 655 699 1,354 Impact of changes in foreign exchange rates (4,979 ) (275 ) (5,254 ) (1,062 ) (6,316 ) Balance, December 31 $ 251,738 $ 10,815 $ 262,553 $ 34,952 $ 297,505 (1) Other insurance contract liabilities are comprised of benefits payable and provision for unreported claims and policyholder amounts on deposit. (2) In 2017, the $20,023 increase reported as the change in insurance contract liabilities on the Consolidated Statements of Income primarily consists of changes due to normal in-force (3) The impact of U.S. Tax Reform, which includes the lowering of the U.S. corporate tax rate from 35% to 21% and limits on the tax deductibility of reserves, resulted in a $2,246 pre-tax ($1,774 post-tax) increase in policy liabilities due to the impact of temporary tax timing and permanent tax rate differences on the cash flows available to satisfy policyholder obligations. The $472 deferred tax impact on this increase in policy liabilities, together with the impact of U.S. Tax Reform on the Company’s deferred tax assets and liabilities is included in note 6. (4) The decision to reduce the allocation to ALDA in the portfolio asset mix supporting the Company’s North American legacy businesses resulted in an increase in policy liabilities due to the impact on future expected investment income on assets supporting the policies. (5) In 2016, the $18,014 increase reported as the change in insurance contract liabilities on the Consolidated Statements of Income primarily consists of changes due to normal in-force (h) Actuarial methods and assumptions A comprehensive review of valuation assumptions and methods is performed annually. The review is designed to reduce the Company’s exposure to uncertainty by ensuring assumptions for both asset related and liability related risks remain appropriate. This is accomplished by monitoring experience and updating assumptions which represent a best estimate view of future experience, and margins that are appropriate for the risks assumed. While the assumptions selected represent the Company’s current best estimates and assessment of risk, the ongoing monitoring of experience and the economic environment is likely to result in future changes to the valuation assumptions, which could be material. Annual Review 2017 The quantification of the impact of the 2017 comprehensive review of valuation methods and assumptions is as of July 1, 2017 for all lines of business. The 2017 full year review of actuarial methods and assumptions resulted in an increase in insurance and investment contract liabilities of $277, net of reinsurance, and a decrease in net income attributed to shareholders of $35 post-tax. post-tax For the year ended December 31, 2017 Change in gross Change in insurance (1) Change in net income attributed (post-tax) Mortality and morbidity updates $ (219 ) $ (254 ) $ 299 Lapses and policyholder behaviour 1,057 1,019 (783 ) Other updates ALDA and public equity investment return assumptions 1,403 1,296 (892 ) Corporate spread assumptions (554 ) (515 ) 344 Refinements to liability and tax cash flows (1,273 ) (1,049 ) 696 Other (90 ) (220 ) 301 Net impact $ 324 $ 277 $ (35) (1) The $277 increase in insurance and investment contract liabilities net of reinsurance, included an increase in net liabilities associated with participating insurance business resulting in a charge to net income attributed to participating policyholders of $88. Mortality and morbidity updates Mortality and morbidity updates resulted in a $299 benefit to net income attributed to shareholders. The Company completed a detailed review of the mortality assumptions for its U.S. life insurance business which resulted in a $384 charge to net income attributed to shareholders. Assumptions were increased, particularly at older ages, reflecting both industry and the Company’s own experience. Updates to actuarial standards related to future mortality improvement, and the review of mortality improvement assumptions globally, resulted in a $264 benefit to net income attributed to shareholders primarily in Canada and Asia. The updated actuarial standards include a diversification benefit for the determination of margins for adverse deviation which recognizes the offsetting impact of longevity and mortality risk. The Company completed a detailed review of mortality assumptions for its Canadian retail insurance business which resulted in a $222 benefit to net income attributed to shareholders. Other updates to mortality and morbidity assumptions led to a $197 benefit to net income attributed to shareholders. These updates included a reduction in the margins for adverse deviation applied to morbidity assumptions for certain medical insurance products in Japan. Updates to lapses and policyholder behaviour Updates to lapses and policyholder behaviour assumptions resulted in a $783 charge to net income attributed to shareholders. In Canadian retail insurance, lapse assumptions were reduced for certain universal life products to reflect recent experience, leading to a $315 charge to net income attributed to shareholders. For Canadian segregated fund guaranteed minimum withdrawal benefit lapses, incidence and utilization assumptions were updated to reflect recent experience which led to a $242 charge to net income attributed to shareholders. Other updates to lapse and policyholder behaviour assumptions were made across several product lines including a reduction in lapse assumptions for the Company’s whole life insurance products in Japan, leading to a $226 charge to net income attributed to shareholders. Other updates Other updates resulted in a $449 benefit to net income attributed to shareholders. The Company reviewed its investment return assumptions for ALDA and public equities, which in aggregate led to a reduction in return assumptions and a $892 charge to net income attributed to shareholders. The Company also reviewed future corporate spread assumptions, which led to a $344 benefit to net income attributed to shareholders. Refinements to the projection of the Company’s liability and tax cash flows in the U.S. resulted in a $696 benefit to net income attributed to shareholders. These changes included refinements to the projection of policyholder crediting rates for certain universal life insurance products. Other refinements resulted in a $301 benefit to net income attributed to shareholders. These changes included a review of provisions for reinsurance counterparty credit risk and several other refinements to the projection of both the Company’s asset and liability cash flows. Annual Review 2016 The 2016 full year review of actuarial methods and assumptions resulted in an increase in insurance and investment contract liabilities of $655, net of reinsurance, and a decrease in net income attributed to shareholders of $453 post-tax. For the year ended December 31, 2016 Change in gross Change in insurance Change in net (post-tax) JH Long-Term Care triennial review $ 696 $ 696 $ (452 ) Mortality and morbidity updates (12 ) (53 ) 76 Lapses and policyholder behaviour U.S. Variable Annuities guaranteed minimum withdrawal benefit incidence and utilization (1,024 ) (1,024 ) 665 Other lapses and policyholder behaviour 516 431 (356 ) Economic reinvestment assumptions 459 443 (313 ) Other updates 719 162 (73 ) Net impact $ 1,354 $ 655 $ (453 ) Long-Term Care triennial review U.S. Insurance completed a comprehensive Long-Term Care experience study. This included a review of mortality, morbidity and lapse experience, as well as the reserve for in-force Expected future claims costs increased primarily due to claims periods being longer than expected in policy liabilities, and a reduction in lapse and mortality rates. This increase in expected future claims costs was partially offset by a number of items, including expected future premium increases resulting from this year’s review and a decrease in the margin for adverse deviations related to the rate of inflation embedded in the Company’s benefit utilization assumptions. The review of premium increases assumed in policy liabilities resulted in a benefit to earnings of $1.0 billion; this includes future premium increases that are due to the 2016 review of morbidity, mortality and lapse assumptions, and outstanding amounts from the Company’s 2013 state filings. Premium increases averaging approximately 20 per cent will be sought on the vast majority of the in-force Mortality and morbidity updates Mortality and morbidity assumptions were updated across several business units to reflect recent experience, including updates to morbidity assumptions for certain medical insurance products in Japan, leading to a $76 benefit to net income attributed to shareholders. Updates to lapses and policyholder behaviour U.S. Variable Annuities guaranteed minimum withdrawal benefit incidence and utilization assumptions were updated to reflect recent experience which led to a $665 benefit to net income attributed to shareholders. The Company updated its incidence assumptions to reflect the favourable impact of policyholders taking withdrawals later than expected. This was partially offset by an increase in the Company’s utilization assumptions. In Japan, lapse rates for term life insurance products were increased at certain durations which led to a $228 charge to net income attributed to shareholders. Other updates to lapse and policyholder behavior assumptions were made across several product lines, including term products in Canada, which led to a $128 charge to net income attributed to shareholders. Updates to economic reinvestment assumptions The Company updated economic reinvestment assumptions for risk free rates used in the valuation of policy liabilities which resulted in a $313 charge to net income attributed to shareholders. These updates included a proactive ten basis point reduction in the Company’s ultimate reinvestment rate (“URR”) assumptions and a commensurate change in the calibration criteria for stochastic risk-free rates. These updates reflect the fact that interest rates are lower than they were when the current prescribed URR and calibration criteria for stochastic risk-free rates were promulgated by the Actuarial Standards Board (“ASB”) in 2014. The ASB has indicated that it will update the promulgation periodically, when necessary. The Company expects the promulgation to be updated in 2017 and, if required, it will make

Investment Contract Liabilities

Investment Contract Liabilities	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Investment Contract Liabilities	Note 9 Investment Contract Liabilities Investment contract liabilities are contractual obligations that do not contain significant insurance risk. Those contracts are measured at either fair value or at amortized cost. (a) Investment contract liabilities measured at fair value Investment contract liabilities measured at fair value include certain investment savings and pension products sold primarily in Hong Kong and China. The following table presents movement in investment contract liabilities measured at fair value during the year. For the years ended December 31, 2017 2016 Balance, January 1 $ 631 $ 785 New policies 50 53 Changes in market conditions 76 (103 ) Redemptions, surrenders and maturities (72 ) (83 ) Impact of changes in foreign exchange rates (46 ) (21 ) Balance, December 31 $ 639 $ 631 (b) Investment contract liabilities measured at amortized cost Investment contract liabilities measured at amortized cost include several fixed annuity products sold in Canada and U.S. fixed annuity products that provide guaranteed income payments for a contractually determined period of time and are not contingent on survivorship. Investment contract liabilities measured at amortized cost are shown below. The fair value associated with these contracts is also shown for comparative purposes. 2017 2016 As at December 31, Amortized cost Fair value Amortized cost Fair value U.S. fixed annuity products $ 1,282 $ 1,433 $ 1,412 $ 1,516 Canadian fixed annuity products 1,205 1,354 1,232 1,389 Investment contract liabilities $ 2,487 $ 2,787 $ 2,644 $ 2,905 The changes in investment contract liabilities measured at amortized cost was a result of the following business activities. For the years ended December 31, 2017 2016 Balance, January 1 $ 2,644 $ 2,712 Policy deposits 68 112 Interest 100 100 Withdrawals (232 ) (235 ) Fees (1 ) (1 ) Other (1 ) 1 Impact of changes in foreign exchange rates (91 ) (45 ) Balance, December 31 $ 2,487 $ 2,644 Carrying value of fixed annuity products is amortized at a rate that exactly discounts the projected actual cash flows to the net carrying amount of the liability at the date of issue. Fair value of fixed annuity products is determined by projecting cash flows according to the contract terms and discounting the cash flows at current market rates adjusted for the Company’s own credit standing. All investment contracts were categorized in Level 2 of the fair value hierarchy (2016 – Level 2). (c) Investment contracts contractual obligations Investment contracts give rise to obligations fixed by agreement. As at December 31, 2017, the Company’s contractual obligations and commitments relating to investment contracts are as follows. Payments due by period Less than 1 to 3 years 3 to 5 years Over 5 Total Investment contract liabilities (1) $ 283 $ 536 $ 481 $ 3,944 $ 5,244 (1) Due to the nature of the products, the timing of net cash flows may be before contract maturity. Cash flows are undiscounted.

Risk Management

Risk Management	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Risk Management	Note 10 Risk Management The Company’s policies and procedures for managing risk related to financial instruments are presented in the “Risk Management” section of the Company’s MD&A for the year ended December 31, 2017. Specifically, these disclosures are included in “Market Risk” and “Liquidity Risk” in that section. These disclosures are in accordance with IFRS 7 “Financial Instruments: Disclosures” and therefore, only the shaded text and tables in the “Risk Management” section form an integral part of these Consolidated Financial Statements. (a) Credit risk Credit risk is the risk of loss due to inability or unwillingness of a borrower, or counterparty, to fulfill its payment obligations. Worsening regional and global economic conditions, segment or industry sector challenges, or company specific factors could result in defaults or downgrades and could lead to increased provisions or impairments related to the Company’s general fund invested assets, derivative financial instruments and reinsurance assets and an increase in provisions for future credit impairments that are included in actuarial liabilities. The Company’s exposure to credit risk is managed through risk management policies and procedures which include a defined credit evaluation and adjudication process, delegated credit approval authorities and established exposure limits by borrower, corporate connection, credit rating, industry and geographic region. The Company measures derivative counterparty exposure as net potential credit exposure, which takes into consideration mark-to-market The Company also ensures where warranted, that mortgages, private placements and loans to Bank clients are secured by collateral, the nature of which depends on the credit risk of the counterparty. An allowance for losses on loans is established when a loan becomes impaired. Allowances for loan losses are calculated to reduce the carrying value of the loans to estimated net realizable value. The establishment of such allowances takes into consideration normal historical credit loss levels and future expectations, with an allowance for adverse deviations. In addition, policy liabilities include general provisions for credit losses from future asset impairments. Impairments are identified through regular monitoring of all credit related exposures, considering such information as general market conditions, industry and borrower specific credit events and any other relevant trends or conditions. Allowances for losses on reinsurance contracts are established when a reinsurance counterparty becomes unable or unwilling to fulfill its contractual obligations. The allowance for loss is based on current recoverable amounts and ceded policy liabilities. Credit risk associated with derivative counterparties is discussed in note 10(d) and credit risk associated with reinsurance counterparties is discussed in note 10(i). Credit exposure The following table presents the gross carrying amount of financial instruments subject to credit exposure, without considering any collateral held or other credit enhancements. As at December 31, 2017 2016 Debt securities FVTPL $ 147,024 $ 140,890 AFS 26,976 27,732 Mortgages 44,742 44,193 Private placements 32,132 29,729 Policy loans 5,808 6,041 Loans to Bank clients 1,737 1,745 Derivative assets 15,569 23,672 Accrued investment income 2,182 2,260 Reinsurance assets 30,359 34,952 Other financial assets 5,253 4,844 Total $ 311,782 $ 316,058 Credit quality Credit quality of commercial mortgages and private placements is assessed at least annually by using an internal rating based on regular monitoring of credit-related exposures, considering both qualitative and quantitative factors. A provision is recorded when the internal risk ratings indicate that a loss represents the most likely outcome. The assets are designated as non-accrual The following table presents the credit quality and carrying value of commercial mortgages and private placements. As at December 31, 2017 AAA AA A BBB BB B and lower Total Commercial mortgages Retail $ 110 $ 1,517 $ 4,363 $ 2,050 $ 44 $ 57 $ 8,141 Office 57 1,272 4,635 1,647 70 28 7,709 Multi-family residential 523 1,395 1,805 726 – – 4,449 Industrial 33 386 1,542 477 145 – 2,583 Other 362 331 1,012 973 14 – 2,692 Total commercial mortgages 1,085 4,901 13,357 5,873 273 85 25,574 Agricultural mortgages – 159 – 405 25 – 589 Private placements 1,038 4,246 11,978 13,160 717 993 32,132 Total $ 2,123 $ 9,306 $ 25,335 $ 19,438 $ 1,015 $ 1,078 $ 58,295 As at December 31, 2016 AAA AA A BBB BB B and lower Total Commercial mortgages Retail $ 97 $ 1,620 $ 4,391 $ 2,084 $ – $ 7 $ 8,199 Office 68 1,255 3,972 1,938 55 36 7,324 Multi-family residential 656 1,362 1,944 844 – – 4,806 Industrial 22 360 1,452 831 169 – 2,834 Other 428 261 1,323 493 60 – 2,565 Total commercial mortgages 1,271 4,858 13,082 6,190 284 43 25,728 Agricultural mortgages – 151 61 469 141 – 822 Private placements 1,086 4,466 10,671 11,606 936 964 29,729 Total $ 2,357 $ 9,475 $ 23,814 $ 18,265 $ 1,361 $ 1,007 $ 56,279 Credit quality of residential mortgages and loans to Bank clients is assessed at least annually with the loan being performing or non-performing Full or partial write-offs of loans are recorded when management believes that there is no realistic prospect of full recovery. Write-offs, net of recoveries, are deducted from the allowance for credit losses. All impairments are captured in the allowance for credit losses. The following table presents the carrying value of residential mortgages and loans to Bank clients. 2017 2016 As at December 31, Insured Uninsured Total Insured Uninsured Total Residential mortgages Performing $ 7,256 $ 11,310 $ 18,566 $ 7,574 $ 10,050 $ 17,624 Non-performing (1) 4 9 13 6 13 19 Loans to Bank clients Performing n/a 1,734 1,734 n/a 1,743 1,743 Non-performing (1) n/a 3 3 n/a 2 2 Total $ 7,260 $ 13,056 $ 20,316 $ 7,580 $ 11,808 $ 19,388 (1) Non-performing The carrying value of government-insured mortgages was 17% of the total mortgage portfolio as at December 31, 2017 (2016 –19%). The majority of these insured mortgages are residential loans as classified in the table above. Past due or credit impaired financial assets The Company provides for credit risk by establishing allowances against the carrying value of impaired loans and recognizing impairment losses on AFS debt securities. In addition, the Company reports as impairment certain declines in the fair value of debt securities designated as FVTPL which it deems represent an impairment. The following table presents the carrying value of past due but not impaired and impaired financial assets. Past due but not impaired As at December 31, 2017 Less than 90 days Total Total Debt securities FVTPL $ – $ – $ – $ 45 AFS 104 2 106 1 Private placements 363 – 363 40 Mortgages and loans to Bank clients 76 16 92 86 Other financial assets 46 26 72 1 Total $ 589 $ 44 $ 633 $ 173 Past due but not impaired As at December 31, 2016 Less than 90 days Total Total Debt securities FVTPL $ 90 $ – $ 90 $ 38 AFS 16 9 25 – Private placements 215 64 279 152 Mortgages and loans to Bank clients 50 20 70 33 Other financial assets 57 54 111 8 Total $ 428 $ 147 $ 575 $ 231 The following table summarizes the Company’s loans that are considered impaired. As at December 31, 2017 Gross Allowances Net carrying Private placements $ 79 $ 39 $ 40 Mortgages and loans to Bank clients 132 46 86 Total $ 211 $ 85 $ 126 As at December 31, 2016 Gross Allowances Net Private placements $ 244 $ 92 $ 152 Mortgages and loans to Bank clients 59 26 33 Total $ 303 $ 118 $ 185 Allowance for loan losses 2017 2016 For the years ended December 31, Private Mortgages Total Private Mortgages Total Balance, January 1 $ 92 $ 26 $ 118 $ 72 $ 29 $ 101 Provisions 2 33 35 112 14 126 Recoveries (12 ) (1 ) (13 ) (62 ) (7 ) (69 ) Write-offs (1) (43 ) (12 ) (55 ) (30 ) (10 ) (40 ) Balance, December 31 $ 39 $ 46 $ 85 $ 92 $ 26 $ 118 (1) Includes disposals and impact of changes in foreign exchange rates. (b) Securities lending, repurchase and reverse repurchase transactions The Company engages in securities lending to generate fee income. Collateral exceeding the market value of the loaned securities is retained by the Company until the underlying security has been returned to the Company. The market value of the loaned securities is monitored on a daily basis and additional collateral is obtained or refunded as the market value of the underlying loaned securities fluctuates. As at December 31, 2017, the Company had loaned securities (which are included in invested assets) with a market value of $1,563 (2016 – $1,956). The Company holds collateral with a current market value that exceeds the value of securities lent in all cases. The Company engages in reverse repurchase transactions to generate fee income, to take possession of securities to cover short positions in similar instruments and to meet short-term funding requirements. As at December 31, 2017, the Company had engaged in reverse repurchase transactions of $230 (2016 – $250) which are recorded as short-term receivables. In addition, the Company had engaged in repurchase transactions of $228 as at December 31, 2017 (2016 – $255) which are recorded as payables. (c) Credit default swaps The Company replicates exposure to specific issuers by selling credit protection via credit default swaps (“CDSs”) to complement its cash debt securities investing. The Company does not write CDS protection in excess of its government bond holdings. A CDS is a derivative instrument representing an agreement between two parties to exchange the credit risk of a single specified entity or an index based on the credit risk of a group of entities (all commonly referred to as the “reference entity” or a portfolio of “reference entities”), in return for a periodic premium. CDS contracts typically have a five-year term. The following table presents details of the credit default swap protection sold by type of contract and external agency rating for the underlying reference security. As at December 31, 2017 Notional (2) Fair value Weighted (in years) (3) Single name CDSs (1) Corporate debt AAA $ 13 $ – 1 AA 35 1 2 A 408 10 3 BBB 150 3 2 Total single name CDSs $ 606 $ 14 3 Total CDS protection sold $ 606 $ 14 3 As at December 31, 2016 Notional (2) Fair value Weighted (in years) (3) Single name CDSs (1) Corporate debt AAA $ 13 $ – 2 AA 37 1 3 A 457 13 4 BBB 155 4 3 Total single name CDSs $ 662 $ 18 4 Total CDS protection sold $ 662 $ 18 4 (1) Rating agency designations are based on S&P where available followed by Moody’s, DBRS, and Fitch. If no rating is available from a rating agency, an internally developed rating is used. (2) Notional amounts represent the maximum future payments the Company would have to pay its counterparties assuming a default of the underlying credit and zero recovery on the underlying issuer obligation. (3) The weighted average maturity of the CDS is weighted based on notional amounts. The Company held no purchased credit protection as at December 31, 2017 and 2016. (d) Derivatives The Company’s point-in-time BBB- AA- As at December 31, 2017, the largest single counterparty exposure, without considering the impact of master netting agreements or the benefit of collateral held, was $2,629 (2016 – $3,891). The net exposure to this counterparty, after considering master netting agreements and the fair value of collateral held, was $nil (2016 – $nil). As at December 31, 2017, the total maximum credit exposure related to derivatives across all counterparties, without considering the impact of master netting agreements and the benefit of collateral held, was $16,204 (2016 – $24,603). (e) Offsetting financial assets and financial liabilities Certain derivatives, securities lent and repurchase agreements have conditional offset rights. The Company does not offset these financial instruments in the Consolidated Statements of Financial Position, as the rights of offset are conditional. In the case of derivatives, collateral is collected from and pledged to counterparties and clearing houses to manage credit risk exposure in accordance with Credit Support Annexes to swap agreements and clearing agreements. Under master netting agreements, the Company has a right of offset in the event of default, insolvency, bankruptcy or other early termination. In the case of reverse repurchase and repurchase transactions, additional collateral may be collected from or pledged to counterparties to manage credit exposure according to bilateral reverse repurchase or repurchase agreements. In the event of default by a counterparty, the Company is entitled to liquidate the collateral held to offset against the same counterparty’s obligation. The following table presents the effect of conditional master netting and similar arrangements. Similar arrangements may include global master repurchase agreements, global master securities lending agreements, and any related rights to financial collateral. Related amounts not set off in the As at December 31, 2017 Gross amounts of (1) Amounts subject to Financial and (2) Net amount (3) Net amounts Financial assets Derivative assets $ 16,204 $ (6,714 ) $ (9,395 ) $ 95 $ 95 Securities lending 1,563 – (1,563 ) – – Reverse repurchase agreements 230 (46 ) (184 ) – – Total financial assets $ 17,997 $ (6,760 ) $ (11,142 ) $ 95 $ 95 Financial liabilities Derivative liabilities $ (8,649 ) $ 6,714 $ 1,718 $ (217 ) $ (30 ) Repurchase agreements (228 ) 46 182 – – Total financial liabilities $ (8,877 ) $ 6,760 $ 1,900 $ (217 ) $ (30 ) Related amounts not set off in the As at December 31, 2016 Gross amounts of (1) Amounts subject to Financial and (2) Net amount (3) Net amounts Financial assets Derivative assets $ 24,603 $ (12,031 ) $ (12,382 ) $ 190 $ 189 Securities lending 1,956 – (1,956 ) – – Reverse repurchase agreements 250 – (250 ) – – Total financial assets $ 26,809 $ (12,031 ) $ (14,588 ) $ 190 $ 189 Financial liabilities Derivative liabilities $ (15,095 ) $ 12,031 $ 2,800 $ (264 ) $ (42 ) Repurchase agreements (255 ) – 255 – – Total financial liabilities $ (15,350) $ 12,031 $ 3,055 $ (264 ) $ (42 ) (1) Financial assets and liabilities include accrued interest of $638 and $827, respectively (2016 – $935 and $944, respectively). (2) Financial and cash collateral exclude over-collateralization. As at December 31, 2017, the Company was over-collateralized on OTC derivative assets, OTC derivative liabilities, securities lending and reverse purchase agreements and repurchase agreements in the amounts of $743, $382, $79 and $nil, respectively (2016 – $398, $494, $107 and $1, respectively). As at December 31, 2017, collateral pledged (received) does not include collateral-in-transit (3) Includes derivative contracts entered between the Company and its financing trusts which it does not consolidate. The Company does not exchange collateral on derivative contracts entered with these trusts. Refer to note 17. Certain of the Company’s credit linked note assets and variable surplus note liabilities have unconditional offset rights. Under netting agreements, the Company has rights of offset including in the event of the Company’s default, insolvency, or bankruptcy. These financial instruments are offset in the Company’s Consolidated Statements of Financial Position. A credit linked note is a security that allows the issuer to transfer a specific credit risk to the buyer. A surplus note is a subordinated debt obligation that often qualifies as surplus (the U.S. statutory equivalent of equity) by some U.S. state insurance regulators. Interest payments on surplus notes are made after all other contractual payments are made. The following table presents the effect of unconditional netting. As at December 31, 2017 Gross amounts of Amounts subject to Net amounts of Credit linked note (1) $ 461 $ (461 ) $ – Variable surplus note (461 ) 461 – (1) In 2017, the Company entered into a twenty-year financing facility with a third party, agreeing to issue variable surplus notes in exchange for an equal amount of credit linked notes. These notes are held to support John Hancock Life Insurance Company (USA) (“JHUSA”) excess reserves under U.S. National Association of Insurance Commissioners’ Model Regulation XXX. In certain scenarios, the credit linked note will be drawn upon by the Company which will issue fixed surplus notes equal to the draw payment received. The third party has agreed to fund any such payment under the credit-linked notes in return for a fee. As at December 31, 2017, the Company had no fixed surplus notes outstanding. (f) Risk concentrations The Company defines enterprise-wide investment portfolio level targets and limits to ensure that portfolios are diversified across asset classes and individual investment risks. The Company monitors actual investment positions and risk exposures for concentration risk and reports its findings to the Executive Risk Committee and the Risk Committee of the Board of Directors. As at December 31, 2017 2016 Debt securities and private placements rated as investment grade BBB or higher (1) 98% 97% Government debt securities as a per cent of total debt securities 39% 43% Government private placements as a per cent of total private placements 10% 10% Highest exposure to a single non-government $ 1,044 $ 1,010 Largest single issuer as a per cent of the total equity portfolio 2% 3% Income producing commercial office properties (2017 – 64% of real estate, 2016 – 65%) $ 8,836 $ 9,200 Largest concentration of mortgages and real estate (2) $ 14,779 $ 13,882 (1) Investment grade debt securities and private placements include 42% rated A, 16% rated AA and 17% rated AAA (2016 – 41%, 14% and 21%) investments based on external ratings where available. (2) Mortgages and real estate are diversified geographically and by property type. The following table presents debt securities and private placements portfolio by sector and industry. 2017 2016 As at December 31, Carrying value % of total Carrying value % of total Government and agency $ 71,888 35 $ 76,020 38 Utilities 40,568 20 37,561 19 Financial 27,923 13 25,027 13 Energy 16,428 8 15,775 8 Industrial 14,691 7 13,088 6 Consumer (non-cyclical) 14,009 7 12,440 6 Consumer (cyclical) 5,916 3 4,256 2 Securitized 3,577 2 3,514 2 Telecommunications 3,324 2 3,091 2 Basic materials 3,248 2 3,387 2 Technology 2,475 1 2,231 1 Media and internet 1,136 – 1,175 1 Diversified and miscellaneous 949 – 786 – Total $ 206,132 100 $ 198,351 100 (g) Insurance risk Insurance risk is the risk of loss due to actual experience for mortality and morbidity claims, policyholder behaviour and expenses emerging differently than assumed when a product was designed and priced. A variety of assumptions are made related to these experience factors, for reinsurance costs, and for sales levels when products are designed and priced, as well as in the determination of policy liabilities. Assumptions for future claims are generally based on both Company and industry experience, and assumptions for future policyholder behaviour and expenses are generally based on Company experience. Such assumptions require significant professional judgment, and actual experience may be materially different than the assumptions made by the Company. Claims may be impacted unexpectedly by changes in the prevalence of diseases or illnesses, medical and technology advances, widespread lifestyle changes, natural disasters, large-scale man-made Non-Guaranteed The Company manages insurance risk through global policies, standards and best practices with respect to product design, pricing, underwriting and claim adjudication, and a global underwriting manual. Each business unit establishes underwriting policies and procedures, including criteria for approval of risks and claims adjudication policies and procedures. The current global life retention limit is US$30 for individual policies (US$35 for survivorship life policies) and is shared across businesses. Lower limits are applied in some markets and jurisdictions. The Company aims to further reduce exposure to claims concentrations by applying geographical aggregate retention limits for certain covers. Enterprise-wide, the Company aims to reduce the likelihood of high aggregate claims by operating globally, insuring a wide range of unrelated risk events, and reinsuring some risk. (h) Concentration risk The geographic concentration of the Company’s insurance and investment contract liabilities, including embedded derivatives, is shown below. The disclosure is based on the countries in which the business is written. As at December 31, 2017 Gross liabilities Reinsurance Net liabilities U.S. and Canada $ 237,434 $ (30,225 ) $ 207,209 Asia and Other 70,521 (134 ) 70,387 Total $ 307,955 $ (30,359 ) $ 277,596 As at December 31, 2016 Gross liabilities Reinsurance Net liabilities U.S. and Canada $ 238,796 $ (34,987 ) $ 203,809 Asia and Other 62,322 35 62,357 Total $ 301,118 $ (34,952 ) $ 266,166 (i) Reinsurance risk In the normal course of business, the Company limits the amount of loss on any one policy by reinsuring certain levels of risk with other insurers. In addition, the Company accepts reinsurance from other reinsurers. Reinsurance ceded does not discharge the Company’s liability as the primary insurer. Failure of reinsurers to honour their obligations could result in losses to the Company; consequently, allowances are established for amounts deemed uncollectible. To minimize losses from reinsurer insolvency, the Company monitors the concentration of credit risk both geographically and with any one reinsurer. In addition, the Company selects reinsurers with high credit ratings. As at December 31, 2017, the Company had $30,359 (2016 – $34,952) of reinsurance assets. Of this, 92 per cent (2016 – 92 per cent) were ceded to reinsurers with Standard and Poor’s ratings of A-

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Long-Term Debt	Note 11 Long-Term Debt (a) Carrying value of long-term debt instruments As at December 31, Issue date Maturity date Par value 2017 2016 4.70% Senior notes (1),(3) June 23, 2016 June 23, 2046 US$ 1,000 $ 1,246 $ 1,333 5.375% Senior notes (2),(3) March 4, 2016 March 4, 2046 US$ 750 928 994 3.527% Senior notes (2),(3) December 2, 2016 December 2, 2026 US$ 270 338 361 4.150% Senior notes (2),(3) March 4, 2016 March 4, 2026 US$ 1,000 1,246 1,333 4.90% Senior notes (2),(3) September 17, 2010 September 17, 2020 US$ 500 626 669 7.768% Medium-term notes (4) April 8, 2009 April 8, 2019 $ 600 – 599 5.505% Medium-term notes (5) June 26, 2008 June 26, 2018 $ 400 400 400 Other notes payable (6) n/a n/a n/a 1 7 Total $ 4,785 $ 5,696 (1) MFC may redeem the notes in whole, but not in part, on June 23, 2021 and thereafter on every June 23, at a redemption price equal to par, together with accrued and unpaid interest. (2) MFC may redeem the senior notes in whole or in part, at any time, at a redemption price equal to the greater of par and a price based on the yield of a corresponding U.S. Treasury bond plus a specified number of basis points. The specified number of basis points is as follows: 5.375% – 40 bps, 3.527% – 20 bps, 4.150% – 35 bps, and 4.90% – 35 bps. (3) These U.S. dollar senior notes have been designated as hedges of the Company’s net investment in its U.S. operations which reduces the earnings volatility that would otherwise arise from the re-measurement (4) On October 6, 2017, MFC redeemed, prior to maturity, all of its outstanding 7.768% medium term notes due April 8, 2019. The early redemption premium of $44 before income taxes was recorded as interest expense. (5) MFC may redeem the medium-term notes in whole or in part, at any time, at a redemption price equal to the greater of par and a price based on the yield of a corresponding Government of Canada bond plus 39 basis points. (6) Other notes payable were substantially repaid during the year. The cash amount of interest paid on long-term debt during the year ended December 31, 2017 was $324 (2016 – $191). Issue costs are amortized over the term of the debt. (b) Fair value measurement Fair value of a long-term debt instrument is determined using quoted market prices where available (Level 1). When quoted market prices are not available, fair value is determined with reference to quoted prices of a debt instrument with similar characteristics or estimated using discounted cash flows using observable market rates (Level 2). Long-term debt is measured at amortized cost in the Consolidated Statements of Financial Position. Fair value of long-term debt as at December 31, 2017 was $5,187 (2016 – $6,100). Long-term debt was categorized in Level 2 of the fair value hierarchy (2016 – Level 2). (c) Aggregate maturities of long-term debt As at December 31, 2017 2016 Less than one year $ 401 $ 7 One to two years – 400 Two to three years 626 599 Three to four years – 669 Four to five years – – Greater than five years 3,758 4,021 Total $ 4,785 $ 5,696

Capital Instruments

Capital Instruments	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Capital Instruments	Note 12 Capital Instruments (a) Carrying value of capital instruments As at December 31, Issuance date Earliest par redemption Maturity date Par value 2017 2016 4.165% MLI Subordinated debentures (1) February 17, 2012 June 1, 2017 June 1, 2022 $ 500 $ – $ 499 3.938% MLI Subordinated debentures (2) September 21, 2012 September 21, 2017 September 21, 2022 $ 400 – 407 2.819% MLI Subordinated debentures (3) February 25, 2013 February 26, 2018 February 26, 2023 $ 200 200 200 2.926% MLI Subordinated debentures (3) November 29, 2013 November 29, 2018 November 29, 2023 $ 250 250 249 2.811% MLI Subordinated debentures (3) February 21, 2014 February 21, 2019 February 21, 2024 $ 500 499 499 7.535% MFCT II Senior debenture notes (4) July 10, 2009 December 31, 2019 December 31, 2108 $ 1,000 1,000 1,000 2.64% MLI Subordinated debentures (3) December 1, 2014 January 15, 2020 January 15, 2025 $ 500 499 499 2.10% MLI Subordinated debentures (3) March 10, 2015 June 1, 2020 June 1, 2025 $ 750 748 747 2.389% MLI Subordinated debentures (3) June 1, 2015 January 5, 2021 January 5, 2026 $ 350 349 349 3.85% MFC Subordinated notes (5) May 25, 2016 May 25, 2021 May 25, 2026 S$ 500 467 461 3.181% MLI Subordinated debentures (3) November 20, 2015 November 22, 2022 November 22, 2027 $ 1,000 996 996 3.049% MFC Subordinated debentures (6) August 18, 2017 August 20, 2024 August 20, 2029 $ 750 746 – 3.00% MFC Subordinated notes (5) November 21, 2017 November 21, 2024 November 21, 2024 S$ 500 467 – 4.061% MFC Subordinated notes (7) February 24, 2017 February 24, 2027 February 24, 2032 US$ 750 935 – 7.375% JHUSA Surplus notes (8) February 25, 1994 n/a February 15, 2024 US$ 450 584 627 JHFC Subordinated notes (9) December 14, 2006 n/a December 15, 2036 $ 650 647 647 Total $ 8,387 $ 7,180 (1) MLI redeemed in full the 4.165% subordinated debentures at par, on June 1, 2017, the earliest par redemption date. (2) MLI redeemed in full the 3.938% subordinated debentures, originally issued by Standard Life Assurance Company of Canada at par, on September 21, 2017, the earliest par redemption date. (3) Interest is fixed for the period up to the earliest par redemption date, thereafter the interest rate will reset to a floating rate equal to the 90-day (4) Issued by MLI to Manulife Financial Capital Trust II (MFCT II), a wholly owned unconsolidated related party to the Company. On the earliest par redemption date and on every fifth anniversary thereafter (each, a “Interest Reset Date”), the rate of interest will reset to equal the yield on 5-year (5) On the earliest par redemption date, the interest rate will reset to equal the 5-year (6) Interest is fixed for the period up to the earliest par redemption date, thereafter, the interest rate will reset to a floating rate equal to the 90-day (7) On the earliest par redemption date, the interest rate will reset to equal the 5-Year Mid-Swap (8) Issued by John Hancock Mutual Life Insurance Company, now John Hancock Life Insurance Company (U.S.A.). Any payment of interest or principal on the surplus notes requires prior approval from the Department of Insurance and Financial Services of the State of Michigan. The carrying value of the surplus notes reflects an unamortized fair value increment of US$23 (2016 – US$26), which arose as a result of the acquisition of John Hancock Financial Services, Inc. The amortization of the fair value adjustment is recorded in interest expense. (9) Issued by Manulife Holdings (Delaware) LLC (“MHDLL”), now John Hancock Financial Corporation (“JHFC”), a wholly owned subsidiary of MFC, to Manulife Finance (Delaware) LLC (“MFLLC”), a subsidiary of Manulife Finance (Delaware) L.P. (“MFLP”). MFLP and its subsidiaries are wholly owned unconsolidated related parties to the Company. The note bears interest at a floating rate equal to the 90-day (b) Fair value measurement Fair value of capital instruments is determined using quoted market prices where available (Level 1). When quoted market prices are not available fair value is determined with reference to quoted prices of a debt instrument with similar characteristics or estimated using discounted cash flows using observable market rates (Level 2). Capital instruments are measured at amortized cost in the Consolidated Statements of Financial Position. As at December 31, 2017, fair value of capital instruments was $8,636 (2016 – $7,417). Capital instruments were categorized in Level 2 of the fair value hierarchy (2016 – Level 2).

Share Capital and Earnings Per

Share Capital and Earnings Per Share	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Share Capital and Earnings Per Share	Note 13 Share Capital and Earnings Per Share The authorized capital of MFC consists of: ∎ an unlimited number of common shares without nominal or par value; and ∎ an unlimited number of Class A, Class B and Class 1 preferred shares without nominal or par value, issuable in series. (a) Preferred shares The changes in issued and outstanding preferred shares are as follows. 2017 2016 For the years ended December 31, Number of (in millions) Amount Number of (in millions) Amount Balance, January 1 146 $ 3,577 110 $ 2,693 Issued, Class 1 shares, Series 21 – – 17 425 Converted, Class 1 shares, Series 3 – – (2 ) (42 ) Issued, Class 1 shares, Series 4 – – 2 42 Issued, Class 1 shares, Series 23 – – 19 475 Issuance costs, net of tax – – – (16 ) Balance, December 31 146 $ 3,577 146 $ 3,577 The following table presents additional information on the preferred shares outstanding as at December 31, 2017. As at December 31, 2017 Issue date Annual (1) Earliest redemption (2) Number of (in millions) Face Net (3) Class A preferred shares Series 2 February 18, 2005 4.65% n/a 14 $ 350 $ 344 Series 3 January 3, 2006 4.50% n/a 12 300 294 Class 1 preferred shares Series 3 (4),(5) March 11, 2011 2.178% June 19, 2021 6 158 155 Series 4 June 20, 2016 floating (6) n/a 2 42 41 Series 5 (4),(5) December 6, 2011 3.891% December 19, 2021 8 200 195 Series 7 (4),(5),(7) February 22, 2012 4.312% March 19, 2022 10 250 244 Series 9 (4),(5),(8) May 24, 2012 4.351% September 19, 2022 10 250 244 Series 11 (4),(5) December 4, 2012 4.00% March 19, 2018 8 200 196 Series 13 (4),(5) June 21, 2013 3.80% September 19, 2018 8 200 196 Series 15 (4),(5) February 25, 2014 3.90% June 19, 2019 8 200 195 Series 17 (4),(5) August 15, 2014 3.90% December 19, 2019 14 350 343 Series 19 (4),(5) December 3, 2014 3.80% March 19, 2020 10 250 246 Series 21 (4),(5) February 25, 2016 5.60% June 19, 2021 17 425 417 Series 23 (4),(5) November 22, 2016 4.85% March 19, 2022 19 475 467 Total 146 $ 3,650 $ 3,577 (1) Holders of Class A and Class 1 preferred shares are entitled to receive non-cumulative (2) Redemption of all preferred shares is subject to regulatory approval. With the exception of Class A Series 2, Class A Series 3 and Class 1 Series 4 preferred shares, MFC may redeem each series, in whole or in part, at par, on the earliest redemption date or every five years thereafter. Class A Series 2 and Series 3 preferred shares are past their respective earliest redemption date and MFC may redeem these shares, in whole or in part, at par at any time, subject to regulatory approval, as noted. MFC may redeem the Class 1 Series 4, in whole or in part, at any time, at $25.00 per share if redeemed on June 19, 2021 and on June 19 every five years thereafter, or at $25.50 per share if redeemed on any other date after June 19, 2016, subject to regulatory approval, as noted. (3) Net of after-tax (4) On the earliest redemption date and every five years thereafter, the annual dividend rate will be reset to the five year Government of Canada bond yield plus a yield specified for each series. The specified yield for Class 1 shares is: Series 3 – 1.41%, Series 5 – 2.90%, Series 7 – 3.13%, Series 9 – 2.86%, Series 11 – 2.61%, Series 13 – 2.22%, Series 15 – 2.16%, Series 17 – 2.36%, Series 19 – 2.30%, Series 21 – 4.97% and Series 23 – 3.83%. (5) On the earliest redemption date and every five years thereafter, Class 1 preferred shares are convertible at the option of the holder into a new series that is one number higher than their existing series, and the holders are entitled to non-cumulative (6) The floating dividend rate for the Class 1 Shares Series 4 will equal the three month Government of Canada Treasury bill yield plus 1.41%. (7) MFC did not exercise its right to redeem all or any of the outstanding Class 1 Shares Series 7 on March 19, 2017 (the earliest redemption date). Dividend rate for Class 1 Shares Series 7 was reset as specified in footnote 4 above to an annual fixed rate of 4.312% for a five year period commencing on March 20, 2017. (8) MFC did not exercise its right to redeem all or any of the outstanding Class 1 Shares Series 9 on September 19, 2017 (the earliest redemption date). Dividend rate for Class 1 Shares Series 9 was reset as specified in footnote 4 above to an annual fixed rate of 4.351% for a five year period commencing on September 20, 2017. (b) Common shares The changes in common shares issued and outstanding are as follows. 2017 2016 For the years ended December 31, Number of (in millions) Amount Number of (in millions) Amount Balance, January 1 1,975 $ 22,865 1,972 $ 22,799 Issued on exercise of stock options and deferred share units 7 124 3 66 Total 1,982 $ 22,989 1,975 $ 22,865 (c) Earnings per share The following table presents basic and diluted earnings per common share of the Company. For the years ended December 31, 2017 2016 Basic earnings per common share $ 0.98 $ 1.42 Diluted earnings per common share 0.98 1.41 The following is a reconciliation of the denominator (number of shares) in the calculation of basic and diluted earnings per share. For the years ended December 31, 2017 2016 Weighted average number of common shares (in millions) 1,978 1,973 Dilutive stock-based awards (1) 8 4 Weighted average number of diluted common shares (in millions) 1,986 1,977 (1) The dilutive effect of stock-based awards was calculated using the treasury stock method. This method calculates the number of incremental shares by assuming the outstanding stock-based awards are (i) exercised and (ii) then reduced by the number of shares assumed to be repurchased from the issuance proceeds, using the average market price of MFC common shares for the year. Excluded from the calculation was a weighted average of 2 million (2016 – 14 million) anti-dilutive stock-based awards. (d) Quarterly dividend declaration subsequent to year end On February 7, 2018, the Company’s Board of Directors approved a quarterly dividend of $0.22 per share on the common shares of MFC, payable on or after March 19, 2018 to shareholders of record at the close of business on February 21, 2018. The Board also declared dividends on the following non-cumulative Class A Shares Series 2 – $0.29063 per share Class 1 Shares Series 11 – $0.25 per share Class A Shares Series 3 – $0.28125 per share Class 1 Shares Series 13 – $0.2375 per share Class 1 Shares Series 3 – $0.136125 per share Class 1 Shares Series 15 – $0.24375 per share Class 1 Shares Series 4 – $0.141103 per share Class 1 Shares Series 17 – $0.24375 per share Class 1 Shares Series 5 – $0.243188 per share Class 1 Shares Series 19 – $0.2375 per share Class 1 Shares Series 7 – $0.2695 per share Class 1 Shares Series 21 – $0.35 per share Class 1 Shares Series 9 – $0.271938 per share Class 1 Shares Series 23 – $0.303125 per share

Capital Management

Capital Management	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Capital Management	Note 14 Capital Management (a) Capital management The Company monitors and manages its consolidated capital in compliance with the Minimum Continuing Capital and Surplus Requirement (“MCCSR”) guideline, issued by the Office of the Superintendent of Financial Institutions (“OSFI”). Under this framework, the Company’s consolidated available capital is measured against a required amount of risk capital determined in accordance with the guideline. The Company’s operating activities are conducted within MLI or its subsidiaries. MLI is regulated by OSFI and is also subject to consolidated risk-based capital requirements using the OSFI MCCSR framework. OSFI will be implementing a revised approach to the regulatory capital framework in Canada in the first quarter of 2018. The Company seeks to manage its capital with the objectives of: ∎ Operating with sufficient capital to be able to honour all commitments to its policyholders and creditors with a high degree of confidence; ∎ Retaining the ongoing confidence of regulators, policyholders, rating agencies, investors and other creditors in order to ensure access to capital markets; and ∎ Optimizing return on capital to meet shareholders’ expectations subject to constraints and considerations of adequate levels of capital established to meet the first two objectives. Capital is managed and monitored in accordance with the Capital Management Policy. The policy is reviewed and approved by the Board of Directors annually and is integrated with the Company’s risk and financial management frameworks. It establishes guidelines regarding the quantity and quality of capital, internal capital mobility, and proactive management of ongoing and future capital requirements. The capital management framework takes into account the requirements of the Company as a whole as well as the needs of each of the Company’s subsidiaries. Internal capital targets are set above the regulatory requirements, and consider a number of factors, including expectations of regulators and rating agencies, results of sensitivity and stress testing and our own risk assessments. The Company monitors against these internal targets and initiates actions appropriate to achieving its business objectives. The following measure of consolidated capital serves as the foundation of the Company’s capital management activities at the MFC level. For regulatory reporting purposes, the numbers are further adjusted for various additions or deductions to capital, as mandated by the OSFI guideline. Consolidated capital As at December 31, 2017 2016 Total equity $ 42,163 $ 42,823 Adjusted for AOCI loss on cash flow hedges (109 ) (232 ) Total equity excluding AOCI on cash flow hedges 42,272 43,055 Qualifying capital instruments 8,387 7,180 Total capital $ 50,659 $ 50,235 (b) Restrictions on dividends and capital distributions Dividends and capital distributions are restricted under the Insurance Company Act (“ICA”). These restrictions apply to both the Company and its primary operating subsidiary MLI. The ICA prohibits the declaration or payment of any dividend on shares of an insurance company if there are reasonable grounds for believing a company does not have adequate capital and adequate and appropriate forms of liquidity or the declaration or the payment of the dividend would cause the company to be in contravention of any regulation made under the ICA respecting the maintenance of adequate capital and adequate and appropriate forms of liquidity, or of any direction made to the company by OSFI. The ICA also requires an insurance company to notify OSFI of the declaration of a dividend at least 15 days prior to the date fixed for its payment. Similarly, the ICA prohibits the purchase for cancellation of any shares issued by an insurance company or the redemption of any redeemable shares or other similar capital transactions, if there are reasonable grounds for believing that the company does not have adequate capital and adequate and appropriate forms of liquidity or the payment would cause the company to be in contravention of any regulation made under the ICA respecting the maintenance of adequate capital and adequate and appropriate forms of liquidity, or any direction made to the company by OSFI. These latter transactions would require the prior approval of OSFI. The ICA requires Canadian insurance companies to maintain adequate levels of capital at all times. Since the Company is a holding company that conducts all of its operations through regulated insurance subsidiaries (or companies owned directly or indirectly by these subsidiaries), its ability to pay future dividends will depend on the receipt of sufficient funds from its regulated insurance subsidiaries. These subsidiaries are also subject to certain regulatory restrictions under laws in Canada, the United States and certain other countries that may limit their ability to pay dividends or make other upstream distributions. The Company and MLI have covenanted for the benefit of holders of the outstanding Trust II Notes – Series I (the “Notes”) that, if interest is not paid in full in cash on the Notes on any interest payment date or if MLI elects that holders of Notes invest interest payable on the Notes on any interest payment date in a new series of Manufacturers Life Class 1 Shares, MLI will not declare or pay cash dividends on any MLI Public Preferred Shares (as defined below), if any are outstanding, and if no MLI Public Preferred Shares are outstanding, MFC will not declare or pay cash dividends on its Preferred Shares and Common Shares, in each case, until the sixth month following such deferral date. “MLI Public Preferred Shares” means, at any time, preferred shares of MLI which at that time: (a) have been issued to the public (excluding any preferred shares of MLI held beneficially by affiliates of MLI); (b) are listed on a recognized stock exchange; and (c) have an aggregate liquidation entitlement of at least $200, however, if at any time, there is more than one class of MLI Public Preferred Shares outstanding, then the most senior class or classes of outstanding MLI Public Preferred Shares shall, for all purposes, be the MLI Public Preferred Shares.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Stock-Based Compensation	Note 15 Stock-Based Compensation (a) Stock options The Company grants stock options under its Executive Stock Option Plan (“ESOP”) to selected individuals. The options provide the holder the right to purchase MFC common shares at an exercise price equal to the higher of the prior day, prior five-day ten-day Options outstanding 2017 2016 For the years ended December 31, Number of options (in millions ) Weighted average exercise price Number of options (in millions ) Weighted average exercise price Outstanding, January 1 30 $ 19.80 30 $ 20.72 Granted 4 24.56 6 17.65 Exercised (7 ) 16.03 (3 ) 15.49 Expired (1 ) 39.47 (2 ) 32.92 Forfeited (1 ) 20.86 (1 ) 21.04 Outstanding, December 31 25 $ 20.45 30 $ 19.80 Exercisable, December 31 12 $ 19.93 18 $ 20.15 Options outstanding Options exercisable For the year ended December 31, 2017 Number of options (in millions ) Weighted average exercise price Weighted average remaining contractual life (in years) Number of options (in millions ) Weighted average exercise price Weighted average remaining contractual life (in years) $11.23 – $20.99 14 $ 17.08 4.91 9 $ 16.78 3.05 $21.00 – $29.99 10 $ 22.77 6.88 2 $ 21.40 3.77 $30.00 – $37.71 1 $ 37.71 0.14 1 $ 37.71 0.14 Total 25 $ 20.45 5.44 12 $ 19.93 2.87 The weighted average fair value of each option granted in 2017 has been estimated at $5.18 (2016 – $3.78) using the Black-Scholes option-pricing model. The pricing model uses the following assumptions for these options: risk-free interest rate of 1.25% (2016 – 1.50%), dividend yield of 3.00% (2016 – 3.00%), expected volatility of 29.5% (2016 – 29.5%) and expected life of 6.7 (2016 – 6.7) years. Expected volatility is estimated by evaluating a number of factors including historical volatility of the share price over multi-year periods. Compensation expense related to stock options was $16 for the year ended December 31, 2017 (2016 – $19). (b) Deferred share units In 2000, the Company granted deferred share units (“DSUs”) to certain employees under the ESOP. These DSUs vested over a three-year period and each DSU entitles the holder to receive one common share on retirement or termination of employment. When dividends are paid on common shares, holders of DSUs are deemed to receive dividends at the same rate, payable in the form of additional DSUs. In 2017, nil DSUs were granted to employees under the ESOP (2016 – nil). The number of DSUs outstanding was 610,000 as at December 31, 2017 (2016 – 633,000). In addition, for certain employees and pursuant to the Company’s deferred compensation program, the Company grants DSUs under the RSU Plan which entitle the holder to receive payment in cash equal to the value of the same number of common shares plus credited dividends on retirement or termination of employment. In 2017, the Company granted 23,000 DSUs to certain employees which vest after 34 months (2016 – 14,000 units which vest after four years). In 2017, nil DSUs (2016 – 27,000) were granted to certain employees who elected to defer receipt of all or part of their annual bonus. These DSUs vested immediately. Also, in 2017, 43,000 DSUs (2016 – 83,000) were granted to certain employees to defer payment of all or part of their Restricted Share Units (“RSUs”) and/or Performance Share Units (“PSUs”). These DSUs also vested immediately. The fair value of 156,000 DSUs issued during the year was $26.22 per unit, as at December 31, 2017 (2016 – 254,000 at $23.91 per unit). Under the Stock Plan for Non-Employee For the years ended December 31, Number of DSUs (in thousands) 2017 2016 Outstanding, January 1 2,682 2,542 Issued 156 254 Reinvested 88 97 Redeemed (279 ) (184 ) Forfeitures and cancellations (2 ) (27 ) Outstanding, December 31 2,645 2,682 Of the DSUs outstanding as at December 31, 2017, 610,000 (2016 – 633,000) entitle the holder to receive common shares, 1,103,000 (2016 – 1,235,000) entitle the holder to receive payment in cash and 932,000 (2016 – 814,000) entitle the holder to receive payment in cash or common shares, at the option of the holder. Compensation expense related to DSUs was $13 for the year ended December 31, 2017 (2016 – $6). The carrying and fair value amount of the DSUs liability as at December 31, 2017 was $53 (2016 – $43) and was included in other liabilities. (c) Restricted share units and performance share units For the year ended December 31, 2017, 5.6 million RSUs (2016 – 7.6 million) and 1.0 million PSUs (2016 – 1.2 million) were granted to certain eligible employees under MFC’s Restricted Share Unit Plan. The fair value of the RSUs and PSUs granted during the year was $26.22 per unit as at December 31, 2017 (2016 – $23.91 per unit). Each RSU and PSU entitles the holder to receive payment equal to the market value of one common share, plus credited dividends, at the time of vesting, subject to any performance conditions. RSUs granted in February 2017 will vest after 34 months and PSUs granted in February 2017 will vest after 36 months from their grant date and the related compensation expense is recognized over these periods, except where the employee is eligible to retire prior to a vesting date, in which case the cost is recognized over the period between the grant date and the date on which the employee is eligible to retire. Compensation expense related to RSUs and PSUs was $125 and $21, respectively, for the year ended December 31, 2017 (2016 – $110 and $9, respectively). The carrying and fair value amount of the RSUs and PSUs liability as at December 31, 2017 was $228 (2016 – $196) and was included in other liabilities. (d) Global share ownership plan The Company’s Global Share Ownership Plan (“GSOP”) allows qualifying employees to apply up to five per cent of their annual base earnings toward the purchase of common shares. The Company matches a percentage of the employee’s eligible contributions up to a maximum amount. The Company’s contributions vest immediately. All contributions are used to purchase common shares in the open market.

Employee Future Benefits

Employee Future Benefits	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Employee Future Benefits	Note 16 Employee Future Benefits The Company maintains defined contribution and defined benefit pension plans and other post-employment plans for employees and agents including registered (tax qualified) pension plans that are typically funded, as well as supplemental non-registered (non-qualified) (a) Plan characteristics To reduce the financial risk associated with final average pay defined benefit pension plans and retiree welfare plans, the Company has over time closed all these plans to new members and, in the case of pension plans, has replaced them with capital accumulation plans. The latter include defined benefit cash balance plans, 401(k) plans and/or defined contribution plans, depending on the country of employment. The result is that final average pay pension plans account for less than 50 per cent of the Company’s global pension obligations and the number of employees who accrue these pensions declines each year. Prior to the Company’s acquisition of the Canadian-based operations of Standard Life plc, advance provision had been made on Standard Life’s balance sheet for continuing its practice of regularly granting increases in retiree pensions on a non-contractual ad-hoc All pension arrangements are governed by local pension committees or management but significant plan changes require approval from the Company’s Board of Directors. The Company’s funding policy for defined benefit pension plans is to make the minimum annual contributions required by regulations in the countries in which the plans are offered. Assumptions and methods prescribed for regulatory funding purposes typically differ from those used for accounting purposes. The Company’s remaining defined benefit pension and/or retiree welfare plans are in the U.S., Canada, Japan, and Taiwan. There are also disability welfare plans in the U.S. and Canada. The largest defined benefit pension and retiree welfare plans are the primary plans for employees in the U.S. and Canada. These are the material plans that are discussed in the balance of this note. The Company measures its defined benefit obligations and fair value of plan assets for accounting purposes as at December 31 each year. U.S. defined benefit pension and retiree welfare plans The Company operates a qualified cash balance plan that is open to new members, a closed non-qualified Actuarial valuations to determine the Company’s minimum funding contributions for the qualified cash balance plan are required annually. Deficits revealed in the funding valuations must generally be funded over a period of up to seven years. It is expected that there will be no required funding for this plan in 2018. There are no plan assets set aside for the non-qualified The retiree welfare plan subsidizes the cost of life insurance and medical benefits. The majority of those who retired after 1991 receive a fixed-dollar subsidy from the Company based on service. The plan was closed to all employees hired after 2004. While assets have been set aside in a qualified trust to pay future retiree welfare benefits, this funding is optional. Retiree welfare benefits offered under the plan coordinate with the U.S. Medicare program to make optimal use of available federal financial support. The qualified pension and retiree welfare plans are governed by the U.S. Benefits Committee, while the non-qualified Non-Qualified Canadian defined benefit pension and retiree welfare plans The Company’s defined benefit plans in Canada include two registered final average pay pension plans, a non-registered Actuarial valuations to determine the Company’s minimum funding contributions for the registered pension plans are required at least once every three years. Deficits revealed in the funding valuation must generally be funded over a period of not less than ten years. For 2018, the required funding for these plans is expected to be $31. The supplemental non-registered The retiree welfare plan subsidizes the cost of life insurance, medical and dental benefits. These subsidies are a fixed dollar amount for those who retired after April 30, 2013 and will be eliminated for those who retire after 2019. There are no assets set aside for this plan. The registered pension plans are governed by Pension Committees, while the supplemental non-registered (b) Risks In final average pay pension plans and retiree welfare plans, the Company generally bears the material risks which include interest rate, investment, longevity and health care cost inflation risks. In defined contribution plans, these risks are typically borne by the employee. In cash balance plans, the interest rate, investment and longevity risks are partially transferred to the employee. Material sources of risk to the Company for all plans include: ∎ A decline in discount rates that increases the defined benefit obligations by more than the change in value of plan assets; ∎ Lower than expected rates of mortality; and ∎ For retiree welfare plans, higher than expected health care costs. The Company has managed these risks through plan design and eligibility changes that have limited the size and growth of the defined benefit obligations. Investment risks for funded plans are managed through strategies aimed at improving the alignment between movements in the invested assets and movements in the obligations. In the U.S., delegated committee representatives and management review the financial status of the qualified defined benefit pension plan at least monthly, and steps are taken in accordance with an established dynamic investment policy to reduce the risk in the plan as the funded status improves. As at December 31, 2017, the target asset allocation for the plan was 29% return-seeking assets and 71% liability-hedging assets. In Canada, internal committees and management review the financial status of the registered defined benefit pension plans on at least a quarterly basis. As at December 31, 2017, the target asset allocation for the plans was 15% return-seeking assets and 85% liability-hedging assets. (c) Pension and retiree welfare plans Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 Changes in defined benefit obligation: Ending balance prior year $ 4,767 $ 4,823 $ 682 $ 713 Plan mergers (1) – 143 – – Current service cost 48 52 1 1 Past service cost – (57 ) – – Interest cost 182 196 26 28 Plan participants’ contributions 1 1 4 5 Actuarial losses (gains) due to: Experience 15 – (9 ) (2 ) Demographic assumption changes – (94 ) – (16 ) Economic assumption changes 214 116 41 20 Benefits paid (315 ) (314 ) (45 ) (50 ) Impact of changes in foreign exchange rates (206 ) (99 ) (35 ) (17 ) Defined benefit obligation, December 31 $ 4,706 $ 4,767 $ 665 $ 682 Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 Change in plan assets: Fair value of plan assets, ending balance prior year $ 4,277 $ 4,122 $ 603 $ 635 Plan mergers (1) – 129 – – Interest income 164 169 23 25 Employer contributions 85 106 12 – Plan participants’ contributions 1 1 4 5 Benefits paid (315 ) (314 ) (45 ) (50 ) Administration costs (5 ) (7 ) (2 ) (2 ) Actuarial gains (losses) 312 158 30 8 Impact of changes in foreign exchange rates (191 ) (87 ) (38 ) (18 ) Fair value of plan assets, December 31 $ 4,328 $ 4,277 $ 587 $ 603 (1) In Canada, two smaller pension plans were merged into the primary Manulife pension plan in 2016. Amounts shown represent the value of the defined benefit obligations and assets transferred from the smaller plans into the primary Manulife plan. (d) Amounts recognized in the Consolidated Statements of Financial Position Pension plans Retiree welfare plans As at December 31, 2017 2016 2017 2016 Development of net defined benefit liability Defined benefit obligation $ 4,706 $ 4,767 $ 665 $ 682 Fair value of plan assets 4,328 4,277 587 603 Deficit 378 490 78 79 Effect of asset limit (1) – – – – Deficit and net defined benefit liability 378 490 78 79 Deficit is comprised of: Funded or partially funded plans (383 ) (292 ) (72 ) (63 ) Unfunded plans 761 782 150 142 Deficit and net defined benefit liability $ 378 $ 490 $ 78 $ 79 (1) No reconciliation has been provided for the effect of the asset limit since there was no effect in either year. For the funded pension plans, the present value of the economic benefits available in the form of reductions in future contributions to the plans is significantly greater than the surplus that would be expected to develop. (e) Disaggregation of defined benefit obligation U.S. plans Canadian plans Pension plans Retiree welfare plans Pension plans Retiree welfare plans As at December 31, 2017 2016 2017 2016 2017 2016 2017 2016 Active members $ 592 $ 637 $ 34 $ 38 $ 393 $ 403 $ 20 $ 20 Inactive and retired members 2,434 2,528 481 502 1,287 1,199 130 122 Total $ 3,026 $ 3,165 $ 515 $ 540 $ 1,680 $ 1,602 $ 150 $ 142 (f) Fair value measurements The major categories of plan assets and the actual per cent allocation to each category are as follows. U.S. plans (1) Canadian plans (2) Pension plans Retiree welfare plans Pension plans Retiree welfare plans As at December 31, 2017 Fair value % of total Fair value % of total Fair value % of total Fair value % of total Cash and cash equivalents $ 33 1% $ 33 6% $ 5 1% $ – – Equity securities (3) 695 24% 45 8% 212 15% – – Debt securities 1,979 67% 502 85% 1,165 84% – – Other investments (4) 235 8% 7 1% 4 0% – – Total $ 2,942 100% $ 587 100% $ 1,386 100% $ – – U.S. plans (1) Canadian plans (2) Pension plans Retiree welfare plans Pension plans Retiree welfare plans As at December 31, 2016 Fair value % of total Fair value % of total Fair value % of total Fair value % of total Cash and cash equivalents $ 15 1% $ 19 3% $ 21 2% $ – – Equity securities (3) 825 28% 150 25% 460 34% – – Debt securities 1,834 62% 427 71% 809 60% – – Other investments (4) 259 9% 7 1% 54 4% – – Total $ 2,933 100% $ 603 100% $ 1,344 100% $ – – (1) All the U.S. pension and retiree welfare plan assets have daily quoted prices in active markets, except for the private equity, timber and agriculture assets. In the aggregate, the latter assets represent approximately 6% of all U.S. pension and retiree welfare plan assets as at December 31, 2017 (2016 – 6%). (2) All the Canadian pension plan assets have daily quoted prices in active markets, except for the group annuity contract assets that represent approximately 0.3% of all Canadian pension plan assets as at December 31, 2017 (2016 – 3%, including real estate and mortgage assets that were sold in 2017). (3) Equity securities include direct investments in MFC common shares of $1.3 (2016 – $1.1) in the U.S. retiree welfare plan and $nil (2016 – $nil) in Canada. (4) Other U.S. plan assets include investment in private equity, timberland and agriculture, and managed futures in 2017. Other Canadian pension plan assets include investment in the group annuity contract. (g) Net benefit cost recognized in the Consolidated Statements of Income Components of the net benefit cost for the pension plans and retiree welfare plans were as follows. Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 Defined benefit current service cost (1) $ 48 $ 52 $ 1 $ 1 Defined benefit administrative expenses 5 7 2 2 Past service cost – plan amendments (2) – (57 ) – – Service cost 53 2 3 3 Interest on net defined benefit (asset) liability (1) 18 27 3 3 Defined benefit cost 71 29 6 6 Defined contribution cost 75 69 – – Net benefit cost $ 146 $ 98 $ 6 $ 6 (1) Includes service and interest costs for the two plans merged into the primary Manulife plan after August 1, 2016. (2) Past service cost in 2016 includes ($55) reflecting the removal of the advance provision made in prior years for non-contractual, ad-hoc (h) Re-measurement Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 Actuarial gains (losses) on defined benefit obligations: Experience $ (15 ) $ – $ 9 $ 2 Demographic assumption changes – 94 – 16 Economic assumption changes (214 ) (116 ) (41 ) (20 ) Return on plan assets greater (less) than discount rate 312 158 30 8 Total re-measurement $ 83 $ 136 $ (2 ) $ 6 (i) Assumptions The key assumptions used by the Company to determine the defined benefit obligation and net benefit cost for the defined benefit pension plans and retiree welfare plans were as follows. U.S. Plans Canadian Plans Pension plans Retiree welfare plans Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 2017 2016 2017 2016 To determine the defined benefit obligation at end of year (1) : Discount rate 3.6% 4.1% 3.6% 4.1% 3.5% 3.9% 3.6% 4.0% Initial health care cost trend rate (2) n/a n/a 8.5% 8.8% n/a n/a 5.9% 6.0% To determine the defined benefit cost for the year (1) Discount rate 4.1% 4.4% 4.1% 4.3% 3.9% 4.1% 4.0% 4.1% Initial health care cost trend rate (2) n/a n/a 8.8% 9.0% n/a n/a 6.0% 6.1% (1) Inflation and salary increase assumptions are not shown as they do not materially affect obligations and cost. (2) The health care cost trend rate used to measure the U.S. based retiree welfare obligation was 8.5% grading to 5.0% for 2032 and years thereafter (2016 – 8.8% grading to 5.0% for 2032) and to measure the net benefit cost was 8.8% grading to 5.0% for 2032 and years thereafter (2016 – 9.0% grading to 5.0% for 2032). In Canada, the rate used to measure the retiree welfare obligation was 5.9% grading to 4.8% for 2026 and years thereafter (2016 – 6.0% grading to 4.8% for 2026) and to measure the net benefit cost was 6.0% grading to 4.8% for 2026 and years thereafter (2016 – 6.1% grading to 4.8% for 2026). Assumptions regarding future mortality are based on published statistics and mortality tables. The current life expectancies underlying the values of the obligations in the defined benefit pension and retiree welfare plans are as follows. As at December 31, 2017 U.S. Canada Life expectancy (in years) for those currently age 65 Males 22.4 22.8 Females 23.9 24.7 Life expectancy (in years) at age 65 for those currently age 45 Males 24.0 23.8 Females 25.5 25.6 (j) Sensitivity of assumptions on obligation Assumptions used can have a significant effect on the obligations reported for defined benefit pension and retiree welfare plans. The potential impact on the obligations arising from changes in the key assumptions is set out in the following table. The sensitivities assume all other assumptions are held constant. In actuality, inter-relationships with other assumptions may exist. As at December 31, 2017 Pension plans Retiree welfare plans Discount rate: Impact of a 1% increase $ (451 ) $ (67 ) Impact of a 1% decrease 536 82 Health care cost trend rate: Impact of a 1% increase n/a 24 Impact of a 1% decrease n/a (21 ) Mortality rates (1) Impact of a 10% decrease 119 16 (1) If the actuarial estimates of mortality are adjusted in the future to reflect unexpected decreases in mortality, the effect of a 10% decrease in mortality rates at each future age would be an increase in life expectancy at age 65 of 0.9 years for U.S. males and females and 0.8 years for Canadian males and females. (k) Maturity profile The weighted average duration (in years) of the defined benefit obligations is as follows. Pension plans Retiree welfare plans As at December 31, 2017 2016 2017 2016 U.S. plans 9.5 9.2 9.8 9.1 Canadian plans 12.8 12.7 14.2 14.2 (l) Cash flows – contributions Total cash payments for all employee future benefits, comprised of cash contributed by the Company to funded defined benefit pension and retiree welfare plans, cash payments directly to beneficiaries in respect of unfunded pension and retiree welfare plans, and cash contributed to defined contribution pension plans, were as follows. Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 Defined benefit plans $ 85 $ 106 $ 12 $ – Defined contribution plans 75 69 – – Total $ 160 $ 175 $ 12 $ – The Company’s best estimate of expected cash payments for employee future benefits for the year ending December 31, 2018 is $101 for defined benefit pension plans, $77 for defined contribution pension plans and $9 for retiree welfare plans.

Interests in Structured Entitie

Interests in Structured Entities	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Interests in Structured Entities	Note 17 Interests in Structured Entities The Company is involved with both consolidated and unconsolidated structured entities (“SEs”) which are established to generate investment returns and/or fee income. The Company is also involved with SEs that are used to facilitate financing for the Company. These entities may have some or all of the following features: control is not readily identified based on voting rights; restricted activities designed to achieve a narrow objective; high amount of leverage; and/or highly structured capital. The Company only discloses its involvement in significant consolidated and unconsolidated SEs. In assessing the significance, the Company considers the nature of its involvement with the SE, including whether it is sponsored by the Company (i.e. initially organized and managed by the Company). Other factors considered include the Company’s investment in the SE as compared to total investments, its returns from the SE as compared to total net investment income, the SE’s size as compared to total funds under management, and its exposure to any other risks from its involvement with the SE. The Company does not provide financial or other support to its SEs, when it does not have a contractual obligation to do so. (a) Consolidated SEs Investment SEs The Company acts as an investment manager of timberlands and timber companies. The Company’s general fund and segregated funds invest in many of these companies. The Company has control over one timberland company which it manages, Hancock Victoria Plantations Holdings PTY Limited (“HVPH”). HVPH is a SE primarily because the Company’s employees exercise voting rights over it on behalf of other investors. As at December 31, 2017, the Company’s consolidated timber assets relating to HVPH were $884 (2016 – $920). The Company does not provide guarantees to other parties against the risk of loss from HVPH. Financing SEs The Company securitizes certain insured and variable rate commercial and residential mortgages and HELOC. This activity is facilitated by consolidated entities that are SEs because their operations are limited to issuing and servicing the Company’s capital. Further information regarding the Company’s mortgage securitization program is included in note 4. (b) Unconsolidated SEs Investment SEs The following table presents the Company’s investment and maximum exposure to loss from significant unconsolidated investment SEs, some of which are sponsored by the Company. The Company does not provide guarantees to other parties against the risk of loss from these SEs. Company’s investment (1) Company’s maximum exposure to loss (2) As at December 31, 2017 2016 2017 2016 Leveraged leases (3) $ 3,273 $ 3,369 $ 3,273 $ 3,369 Timberland companies (4) 736 736 786 749 Real estate companies (5) 361 327 361 327 Total $ 4,370 $ 4,432 $ 4,420 $ 4,445 (1) The Company’s investments in these unconsolidated SEs are included in invested assets and the Company’s returns from them are included in net investment income and AOCI. (2) The Company’s maximum exposure to loss from each SE is limited to amounts invested in each, plus unfunded capital commitments, if any. The Company’s investment commitments are disclosed in note 18. The maximum loss is expected to occur only upon the entity’s bankruptcy/liquidation, or as a result of a natural disaster in the case of the timber companies. (3) These entities are statutory business trusts which use capital provided by the Company and senior debt provided by other parties to finance the acquisition of assets. These assets are leased to third-party lessees under long-term leases. The Company owns equity capital in these business trusts. The Company does not consolidate any of the trusts that are party to the lease arrangements because the Company does not have decision-making power over them. (4) These entities own and operate timberlands. The Company invests in their equity and debt. The Company’s returns include investment income, investment advisory fees, forestry management fees and performance advisory fees. The Company does not control these entities because it either does not have the power to govern their financial and operating policies or does not have significant variable returns from them, or both. (5) These entities, which include the Manulife U.S. REIT, own and manage commercial real estate. The Company invests in their equity. The Company’s returns include investment income, investment management fees, property management fees, acquisition/disposition fees, and leasing fees. The Company does not control these entities because it either does not have the power to govern their financial and operating policies or does not have significant variable returns from them, or both. Financing SEs The following table presents the Company’s interests and maximum exposure to loss from significant unconsolidated financing SEs. Company’s interests (1) As at December 31, 2017 2016 Manulife Finance (Delaware), L.P. (2) $ 835 $ 876 Manulife Financial Capital Trust II (3) 1,000 1,000 Total $ 1,835 $ 1,876 (1) The Company’s interests include amounts borrowed from the SEs and the Company’s investment in their subordinated capital, and foreign currency and interest swaps with them, if any. (2) This entity is a wholly-owned partnership used to facilitate the Company’s financing. Refer to notes 12 and 18. (3) This entity is an open-ended trust that is used to facilitate the Company’s financing. Refer to note 12. (i) Other invested assets The Company has investment relationships with a variety of other entities, which result from its direct investment in their debt and/or equity and which have been assessed for control. These other entities’ investments include, but are not limited to investments in power and infrastructure, oil and gas, private equity, real estate and agriculture, organized as limited partnerships and limited liability companies. Most of these other entities are not sponsored by the Company. The Company’s involvement with these other entities is not individually significant. As such, the Company neither provides summary financial data for these entities nor individually assesses whether they are SEs. The Company’s maximum exposure to losses because of its involvement with these other entities is limited to its investment in them and amounts committed to be invested but not yet funded. The Company records its income from these entities in net investment income and AOCI. The Company does not provide guarantees to other parties against the risk of loss from these other entities. (ii) Interest in securitized assets The Company invests in mortgage/asset-backed securities issued by securitization vehicles sponsored by other parties, including private issuers and government sponsored issuers, to generate investment income. The Company does not own a controlling financial interest in any of the issuers. These securitization vehicles are SEs based on their narrow scope of activities and highly leveraged capital structures. Investments in mortgage/asset-backed securities are reported on the Consolidated Statements of Financial Position as debt securities and private placements, and their fair value and carrying value are disclosed in note 4. The Company’s maximum loss from these investments is limited to amounts invested. Commercial mortgage-backed securities (“CMBS”) are secured by commercial mortgages and residential mortgage-backed securities (“RMBS”) are secured by residential mortgages. Asset-backed securities (“ABS”) may be secured by various underlying assets including credit card receivables, automobile loans and aviation leases. The mortgage/asset-backed securities that the Company invests in primarily originate in North America. The following table presents investments in securitized holdings by the type and asset quality. 2017 2016 As at December 31, CMBS RMBS ABS Total Total AAA $ 1,390 $ 45 $ 1,068 $ 2,503 $ 2,269 AA – – 401 401 393 A 16 – 488 504 592 BBB – – 142 142 221 BB and below 12 – 14 26 38 Total company exposure $ 1,418 $ 45 $ 2,113 $ 3,576 $ 3,513 (iii) Mutual funds The Company sponsors and may invest in a range of public mutual funds with a broad range of investment styles. As sponsor, the Company organizes mutual funds that implement investment strategies on behalf of current and future investors. The Company earns fees which are at market rates for providing advisory and administrative services to these mutual funds. Generally, the Company does not control its sponsored mutual funds because either the Company does not have power to govern their financial and operating policies, or its returns in the form of fees and ownership interests are not significant, or both. Certain mutual funds are SEs because their decision-making rights are not vested in voting equity interests and their investors are provided with redemption rights. The Company’s relationships with these mutual funds are not individually significant. As such, the Company neither provides summary financial data for these mutual funds nor individually assesses whether they are SEs. The Company’s interest in mutual funds is limited to its investment and fees earned, if any. The Company’s investments in mutual funds are recorded as part of its investment in public equities within the Consolidated Statements of Financial Position. For information regarding the Company’s invested assets, refer to note 4. The Company does not provide guarantees to other parties against the risk of loss from these mutual funds. As sponsor, the Company’s investment in startup capital of mutual funds as at December 31, 2017 was $1,918 (2016 – $1,903). The Company’s retail mutual fund assets under management as at December 31, 2017 were $195,472 (2016 – $169,919).

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Commitments and Contingencies	Note 18 Commitments and Contingencies (a) Legal proceedings The Company is regularly involved in legal actions, both as a defendant and as a plaintiff. The legal actions where the Company is a party ordinarily relate to its activities as a provider of insurance protection or wealth management products, reinsurance, or its capacity as an investment adviser, employer, or taxpayer. Other life insurers and asset managers, operating in the jurisdictions in which the Company does business, have been subject to a wide variety of other types of actions, some of which resulted in substantial judgments or settlements against the defendants; it is possible that the Company may become involved in similar actions in the future. In addition, government and regulatory bodies in Canada, the United States, Asia and other jurisdictions where the Company conducts business regularly make inquiries and, from time to time, require the production of information or conduct examinations concerning the Company’s compliance with, among other things, insurance laws, securities laws, and laws governing the activities of broker-dealers. A class action against John Hancock Life Insurance Company (U.S.A.) (“JHUSA”) is pending in the U.S. District Court for the Southern District of New York in which claims are made that JHUSA breached, and continues to breach, the contractual terms of certain universal life policies issued between approximately 1990 and 2006 by including impermissible charges in its cost of insurance (“COI”) calculations. The Company believes that its COI calculations have been, and continue to be, in accordance with the terms of the policies and intends to vigorously defend this action. Briefing on class certification is scheduled to be completed in late April. It is premature to attempt to predict any outcome or range of outcomes for this matter. A similar class action based on the same policy language in dispute in the case pending in New York had been pending in California. The parties have agreed to settle all claims alleged in the California action and are preparing final documents for approval by the supervising court; the financial terms of the settlement are not expected to be material to the Company. (b) Investment commitments In the normal course of business, various investment commitments are outstanding which are not reflected in the Consolidated Financial Statements. There were $8,235 (2016 – $7,505) of outstanding investment commitments as at December 31, 2017, of which $682 (2016 – $268) mature in 30 days, $2,177 (2016 – $2,665) mature in 31 to 365 days and $5,376 (2016 – $4,572) mature after one year. (c) Letters of credit In the normal course of business, third-party relationship banks issue letters of credit on the Company’s behalf. The Company’s businesses utilize letters of credit for which third parties are the beneficiaries, as well as for affiliate reinsurance transactions between its subsidiaries. As at December 31, 2017, letters of credit for which third parties are beneficiary, in the amount of $77 (2016 – $83), were outstanding. (d) Guarantees (i) Guarantees regarding Manulife Finance (Delaware), L.P. (“MFLP”) MFC has guaranteed the payment of amounts on the $650 subordinated debentures due on December 15, 2041 issued by MFLP, a wholly-owned unconsolidated partnership. (ii) Guarantees regarding The Manufacturers Life Insurance Company On January 29, 2007, MFC provided a subordinated guarantee, as amended and restated on January 13, 2017, of Class A Shares and Class B Shares of MLI and any other class of preferred shares that rank in parity with Class A Shares or Class B Shares of MLI. For the following subordinated debentures issued by MLI, MFC has provided a subordinated guarantee on the day of issuance: $200 issued on February 25, 2013; $250 issued on November 29, 2013; $500 issued on February 21, 2014; $500 issued on December 1, 2014; $750 issued on March 10, 2015; $350 issued on June 1, 2015; and $1,000 issued on November 20, 2015. The following table sets forth certain condensed consolidated financial information for MFC and MFLP. Condensed Consolidated Statements of Income Information For the year ended December 31, 2017 MFC MLI (1) Other Consolidating Total MFLP Total revenue $ 182 $ 58,445 $ 270 $ (574) $ 58,323 $ 29 Net income (loss) attributed to shareholders 2,104 2,467 (257 ) (2,210) 2,104 6 For the year ended December 31, 2016 MFC MLI (1) Other Consolidating Total MFLP Total revenue $ 518 $ 53,219 $ 377 $ (777 ) $ 53,337 $ 44 Net income (loss) attributed to shareholders 2,929 2,916 (359 ) (2,557 ) 2,929 (1 ) (1) During 2017, MLI acquired John Hancock Reassurance Company Ltd. (“JHRECO”) from MFC. MLI has restated its historical IFRS financial statements to reflect the combined accounts of MLI and JHRECO on a retroactive basis. Condensed Consolidated Statements of Financial Position As at December 31, 2017 MFC MLI (1) Other Consolidating Total MFLP Invested assets $ 21 $ 334,191 $ 10 $ – $ 334,222 $ 5 Total other assets 48,688 71,180 4 (48,868 ) 71,004 1,033 Segregated funds net assets – 324,307 – – 324,307 – Insurance contract liabilities – 304,605 – – 304,605 – Investment contract liabilities – 3,126 – – 3,126 – Segregated funds net liabilities – 324,307 – – 324,307 – Total other liabilities 7,696 48,145 – (509 ) 55,332 831 As at December 31, 2016 MFC MLI (1) Other Consolidating Total MFLP Invested assets $ 161 $ 321,698 $ 10 $ – $ 321,869 $ 6 Total other assets 48,073 83,607 4 (48,049 ) 83,635 1,085 Segregated funds net assets – 315,177 – – 315,177 – Insurance contract liabilities – 297,505 – – 297,505 – Investment contract liabilities – 3,275 – – 3,275 – Segregated funds net liabilities – 315,177 – – 315,177 – Total other liabilities 6,402 55,808 – (309 ) 61,901 882 (1) During 2017, MLI acquired John Hancock Reassurance Company Ltd. (“JHRECO”) from MFC. MLI has restated its historical IFRS financial statements to reflect the combined accounts of MLI and JHRECO on a retroactive basis. (iii) Guarantees regarding John Hancock Life Insurance Company (U.S.A.) (“JHUSA”) Details of guarantees regarding certain securities issued or to be issued by JHUSA are outlined in note 23. (e) Pledged assets In the normal course of business, the Company pledges its assets in respect of liabilities incurred, strictly for providing collateral to the counterparty. In the event of the Company’s default, the counterparty is entitled to apply the collateral to settle the liability. The pledged assets are returned to the Company if the underlying transaction is terminated or, in the case of derivatives, if there is a decrease in the net exposure due to market value changes. The amounts pledged were as follows. 2017 2016 As at December 31, Debt securities Other Debt securities Other In respect of: Derivatives $ 3,189 $ 44 $ 4,678 $ 99 Regulatory requirements 398 86 409 78 Real estate – 2 – 22 Repurchase agreements 228 – 255 – Non-registered – 412 – 464 Other 3 271 3 174 Total $ 3,818 $ 815 $ 5,345 $ 837 (f) Lease obligations The Company has a number of operating lease obligations, primarily for the use of office space. The aggregate future minimum lease payments under non-cancelable (g) Participating business In some territories where the Company maintains participating accounts, there are regulatory restrictions on the amounts of profit that can be transferred to shareholders. Where applicable, these restrictions generally take the form of a fixed percentage of policyholder dividends. For participating businesses operating as separate “closed blocks”, transfers are governed by the terms of MLI’s and John Hancock Mutual Life Insurance Company’s plans of demutualization. (h) Fixed surplus notes A third party contractually provides standby financing arrangements for the Company’s U.S. operations under which, in certain circumstances, funds may be provided in exchange for the issuance of fixed surplus notes. As at December 31, 2017, the Company had no fixed surplus notes outstanding.

Segmented Information

Segmented Information	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Segmented Information	Note 19 Segmented Information The Company’s reporting segments are Asia, Canadian, U.S. and Corporate and Other Divisions. Each division manages profit and loss, develops products and services, defines distribution strategies based on the profile and needs of its business and market in which it operates. The significant product and service offerings of each division are as follows: Protection (Asia, Canadian and U.S. Divisions). Wealth and Asset Management (Asia, Canadian and U.S. Divisions). Other Wealth (Asia, Canadian and U.S. Divisions). non-guaranteed, Corporate and Other Segment. run-off Certain allocation methodologies are employed in the preparation of segmented financial information. Indirect expenses are allocated to business segments using allocation formulas applied on a consistent basis, while capital is apportioned to the Company’s business segments using a risk based methodology. The impact of changes in actuarial methods and assumptions (refer to note 8) reported in the Consolidated Statements of Income, is included in the Corporate and Other segment. Effective January 1, 2017, the operations of Manulife Asset Management are being reflected in the respective Divisional results. These operations were reported in the Corporate and Other division for 2016. By segment As at and for the year ended December 31, 2017 Asia Division Canadian U.S. Division Corporate Total Revenue Premium income Life and health insurance $ 13,145 $ 4,322 $ 6,778 $ 110 $ 24,355 Annuities and pensions 2,568 443 844 – 3,855 Net premium income 15,713 4,765 7,622 110 28,210 Net investment income 4,080 4,573 10,649 65 19,367 Other revenue 1,739 3,517 6,166 (676 ) 10,746 Total revenue 21,532 12,855 24,437 (501 ) 58,323 Contract benefits and expenses Life and health insurance 11,961 5,644 16,464 461 34,530 Annuities and pensions 2,051 1,813 907 – 4,771 Net benefits and claims 14,012 7,457 17,371 461 39,301 Interest expense 164 307 37 631 1,139 Other expenses 4,937 4,435 6,050 (40 ) 15,382 Total contract benefits and expenses 19,113 12,199 23,458 1,052 55,822 Income (loss) before income taxes 2,419 656 979 (1,553 ) 2,501 Income tax recovery (expense) (403 ) 95 (1,275 ) 1,344 (239 ) Net income (loss) 2,016 751 (296 ) (209 ) 2,262 Less net income (loss) attributed to: Non-controlling 197 – – (3 ) 194 Participating policyholders (30 ) (6 ) – – (36 ) Net income (loss) attributed to shareholders $ 1,849 $ 757 $ (296 ) $ (206 ) $ 2,104 Total assets $ 105,233 $ 220,755 $ 383,528 $ 20,017 $ 729,533 As at and for the year ended December 31, 2016 Asia Division Canadian U.S. Division Corporate Total Revenue Premium income Life and health insurance $ 12,111 $ 4,366 $ 6,703 $ 88 $ 23,268 Annuities and pensions 3,474 606 284 – 4,364 Net premium income 15,585 4,972 6,987 88 27,632 Net investment income 2,143 4,255 7,980 146 14,524 Other revenue 1,566 3,480 5,591 544 11,181 Total revenue 19,294 12,707 20,558 778 53,337 Contract benefits and expenses Life and health insurance 10,435 5,207 10,829 806 27,277 Annuities and pensions 2,913 1,179 2,765 – 6,857 Net benefits and claims 13,348 6,386 13,594 806 34,134 Interest expense 146 305 45 517 1,013 Other expenses 4,241 4,279 5,619 722 14,861 Total contract benefits and expenses 17,735 10,970 19,258 2,045 50,008 Income (loss) before income taxes 1,559 1,737 1,300 (1,267 ) 3,329 Income tax recovery (expense) (243 ) (250 ) (166 ) 463 (196 ) Net income (loss) 1,316 1,487 1,134 (804 ) 3,133 Less net income (loss) attributed to: Non-controlling 115 – – 28 143 Participating policyholders 60 1 – – 61 Net income (loss) attributed to shareholders $ 1,141 $ 1,486 $ 1,134 $ (832 ) $ 2,929 Total assets $ 92,843 $ 214,820 $ 386,619 $ 26,399 $ 720,681 The results of the Company’s business segments differ from geographic segment primarily due to the allocation of Company’s Corporate and Other division into the geographic segments to which its businesses relate. By geographic location As at and for the year ended December 31, 2017 Asia Canada U.S. Other Total Revenue Premium income Life and health insurance $ 13,215 $ 3,894 $ 6,780 $ 466 $ 24,355 Annuities and pensions 2,568 443 844 – 3,855 Net premium income 15,783 4,337 7,624 466 28,210 Net investment income 4,258 4,642 10,407 60 19,367 Other revenue 1,632 3,187 5,911 16 10,746 Total revenue $ 21,673 $ 12,166 $ 23,942 $ 542 $ 58,323 As at and for the year ended December 31, 2016 Asia Canada U.S. Other Total Revenue Premium income Life and health insurance $ 12,184 $ 3,909 $ 6,705 $ 470 $ 23,268 Annuities and pensions 3,474 606 284 – 4,364 Net premium income 15,658 4,515 6,989 470 27,632 Net investment income 2,368 4,096 7,880 180 14,524 Other revenue 1,608 3,443 6,105 25 11,181 Total revenue $ 19,634 $ 12,054 $ 20,974 $ 675 $ 53,337

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Related Parties	Note 20 Related Parties Related party transactions were made in the normal course of business and at the terms that would exist in arm’s-length (a) Transactions with certain related parties Transactions with MFLP, a wholly owned unconsolidated partnership, and MFCT, a wholly owned unconsolidated trust, are described in notes 11, 12 and 18. (b) Compensation of key management personnel The Company’s key management personnel are those personnel who have the authority and responsibility for planning, directing and controlling the activities of the Company. Directors (both executive and non-executive) For the years ended December 31, 2017 2016 Short-term employee benefits $ 44 $ 33 Post-employment benefits 3 3 Share-based payments 43 44 Termination benefits 6 4 Other long-term benefits 2 3 Total $ 98 $ 87

Subsidiaries

Subsidiaries	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Subsidiaries	Note 21 Subsidiaries The following is a list of Manulife’s directly and indirectly held major operating subsidiaries. As at December 31, 2017 (100% owned unless otherwise noted in brackets beside company name) Address Description The Manufacturers Life Insurance Company Toronto, Canada Leading Canadian-based financial services company that offers a diverse range of financial protection products and wealth management services Manulife Holdings (Alberta) Limited Calgary, Canada Holding company John Hancock Financial Corporation Wilmington, Delaware, U.S.A. Holding company The Manufacturers Investment Corporation Michigan, U.S.A. Holding company John Hancock Reassurance Company Ltd. U.S.A. Michigan, U.S.A. Captive insurance subsidiary that provides life, annuity and long-term care reinsurance to affiliates John Hancock Life Insurance Company (U.S.A.) Michigan, U.S.A. U.S. life insurance company licensed in all states, except New York John Hancock Subsidiaries LLC Wilmington, Delaware, U.S.A. Holding company John Hancock Financial Network, Inc. Boston, Massachusetts, U.S.A. Financial services distribution organization John Hancock Advisers, LLC Boston, Massachusetts, U.S.A. Investment advisor John Hancock Funds, LLC Boston, Massachusetts, U.S.A. Broker-dealer Manulife Asset Management (US) LLC Wilmington, Delaware, U.S.A. Asset management company Hancock Natural Resource Group, Inc. Boston, Massachusetts, U.S.A. Manager of globally diversified timberland and agricultural portfolios John Hancock Life Insurance Company of New York New York, U.S.A. U.S. life insurance company licensed in New York John Hancock Investment Management Services, LLC Boston, Massachusetts, U.S.A. Investment advisor John Hancock Life & Health Insurance Company Boston, Massachusetts, U.S.A. U.S. life insurance company licensed in all states John Hancock Distributors LLC Wilmington, Delaware, U.S.A. Broker-dealer John Hancock Insurance Agency, Inc. Wilmington, Delaware, U.S.A. Insurance agency Manulife Reinsurance Limited Hamilton, Bermuda Provides life and financial reinsurance to affiliates Manulife Reinsurance (Bermuda) Limited Hamilton, Bermuda Provides life and annuity reinsurance to affiliates Manulife Bank of Canada Waterloo, Canada Provides integrated banking products and service options not available from an insurance company Manulife Asset Management Holdings (Canada) Inc. Toronto, Canada Holding company Manulife Asset Management Limited Toronto, Canada Provides investment counseling, portfolio and mutual fund management in Canada First North American Insurance Company Toronto, Canada Property and casualty insurance company NAL Resources Management Limited Calgary, Canada Management company for oil and gas properties Manulife Resources Limited Calgary, Canada Holds oil and gas properties Manulife Property Limited Partnership Toronto, Canada Holds oil and gas royalties Manulife Property Limited Partnership II Toronto, Canada Holds oil and gas royalties and foreign bonds and equities Manulife Western Holdings Limited Partnership Calgary, Canada Holds oil and gas properties Manulife Securities Investment Services Inc. Oakville, Canada Mutual fund dealer for Canadian operations Manulife Holdings (Bermuda) Limited Hamilton, Bermuda Holding company Manufacturers P & C Limited St. Michael, Barbados Provides property and casualty reinsurance Manulife Financial Asia Limited Hong Kong, China Holding company Manulife (Cambodia) PLC Phnom Penh, Cambodia Life insurance company Manufacturers Life Reinsurance Limited St. Michael, Barbados Provides life and annuity reinsurance to affiliates Manulife (Vietnam) Limited Ho Chi Minh City, Vietnam Life insurance company Manulife Asset Management (Vietnam) Company Limited Ho Chi Minh City, Vietnam Fund management company Manulife International Holdings Limited Hong Kong, China Holding company Manulife (International) Limited Hong Kong, China Life insurance company Manulife-Sinochem Life Insurance Co. Ltd. (51%) Shanghai, China Life insurance company Manulife Asset Management International Holdings Limited Hong Kong, China Holding company Manulife Asset Management (Hong Kong) Limited Hong Kong, China Investment management and advisory company marketing mutual funds Manulife Asset Management (Taiwan) Co., Ltd. Taipei, Taiwan Asset management company Manulife Life Insurance Company Tokyo, Japan Life insurance company Manulife Asset Management (Japan) Limited Tokyo, Japan Investment management and advisory company and mutual fund business Manulife Insurance (Thailand) Public Company Limited (92.1%) (1) Bangkok, Thailand Life insurance company Manulife Asset Management (Thailand) Company Limited (95.3%) (1) Bangkok, Thailand Investment management company Manulife Holdings Berhad (59.5%) Kuala Lumpur, Malaysia Holding company Manulife Insurance Berhad (59.5%) Kuala Lumpur, Malaysia Life insurance company Manulife Asset Management Services Berhad (59.5%) Kuala Lumpur, Malaysia Asset management company Manulife (Singapore) Pte. Ltd. Singapore Life insurance company Manulife Asset Management (Singapore) Pte. Ltd. Singapore Asset management company The Manufacturers Life Insurance Co. (Phils.), Inc. Makati City, Philippines Life insurance company Manulife Chinabank Life Assurance Corporation (60%) Makati City, Philippines Life insurance company PT Asuransi Jiwa Manulife Indonesia Jakarta, Indonesia Life insurance company PT Manulife Aset Manajemen Indonesia Jakarta, Indonesia Investment management company marketing mutual funds and discretionary funds Manulife Asset Management (Europe) Limited London, England Investment management company for Manulife Financial’s international funds Manulife Assurance Company of Canada Toronto, Canada Life insurance company EIS Services (Bermuda) Limited Hamilton, Bermuda Investment holding company Berkshire Insurance Services Inc. Toronto, Canada Investment holding company JH Investments (Delaware) LLC Boston, Massachusetts, U.S.A. Investment holding company Manulife Securities Incorporated Oakville, Canada Investment dealer Manulife Asset Management (North America) Limited Toronto, Canada Investment advisor Regional Power Inc. Mississauga, Canada Developer and operator of hydro-electric power projects (1) MFC voting rights percentages are the same as the ownership percentages except for Manulife Insurance (Thailand) Public Company Limited and Manulife Asset Management (Thailand) Company Limited where MFC’s voting rights are 98.1% and 98.9%, respectively.

Segregated Funds

Segregated Funds	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Segregated Funds	Note 22 Segregated Funds The Company manages a number of segregated funds on behalf of policyholders. Policyholders are provided with the opportunity to invest in different categories of segregated funds that respectively hold a range of underlying investments. The Company retains legal title to the underlying investments; however, returns from these investments belong to the policyholders. Accordingly, the Company does not bear the risk associated with these assets outside of guarantees offered on certain variable life and annuity products. The “Risk Management” section of the Company’s 2017 MD&A provides information regarding the variable annuity and segregated fund guarantees. The composition of net assets by categories of segregated funds was within the following ranges for the years ended December 31, 2017 and 2016. Ranges in per cent Type of fund 2017 2016 Money market funds 2% to 3% 2% to 3% Fixed income funds 14% to 15% 14% to 15% Balanced funds 22% to 29% 22% to 24% Equity funds 55% to 60% 59% to 61% Money market funds consist of investments that have a term to maturity of less than one year. Fixed income funds primarily consist of investments in fixed grade income securities and may contain smaller investments in diversified equities or high-yield bonds. Relative to fixed income funds, balanced funds consist of fixed income securities and a larger equity investment component. The types of equity funds available to policyholders range from low volatility equity funds to aggressive equity funds. Equity funds invest in a varying mix of Canadian, U.S. and global equities. The underlying investments of the segregated funds consist of both individual securities and mutual funds (collectively “net assets”), some of which may be structured entities. The carrying value and change in segregated funds net assets are as follows. Segregated funds net assets As at December 31, 2017 2016 Investments at market value Cash and short-term securities $ 4,756 $ 4,524 Debt securities 15,472 15,651 Equities 12,624 12,458 Mutual funds 288,007 278,966 Other investments 4,514 4,552 Accrued investment income 201 201 Other assets and liabilities, net (766 ) (644 ) Total segregated funds net assets $ 324,808 $ 315,708 Composition of segregated funds net assets Held by policyholders $ 324,307 $ 315,177 Held by the Company 501 531 Total segregated funds net assets $ 324,808 $ 315,708 Fair value related information of segregated funds is disclosed in note 4(g). Changes in segregated funds net assets For the years ended December 31, 2017 2016 Net policyholder cash flow Deposits from policyholders $ 34,776 $ 33,130 Net transfers to general fund (1,734 ) (878 ) Payments to policyholders (45,970 ) (39,731 ) (12,928 ) (7,479 ) Investment related Interest and dividends 16,930 15,736 Net realized and unrealized investment gains 24,384 4,097 41,314 19,833 Other Management and administration fees (4,496 ) (4,386 ) Impact of changes in foreign exchange rates (14,790 ) (6,007 ) (19,286 ) (10,393 ) Net additions 9,100 1,961 Segregated funds net assets, beginning of year 315,708 313,747 Segregated funds net assets, end of year $ 324,808 $ 315,708 Segregated funds assets may be exposed to a variety of financial and other risks. These risks are primarily mitigated by investment guidelines that are actively monitored by professional and experienced portfolio advisors. The Company is not exposed to these risks beyond the liabilities related to the guarantees associated with certain variable life and annuity products. Accordingly, the Company’s exposure to loss from segregated fund products is limited to the value of these guarantees. These guarantee liabilities are recorded within the Company’s insurance contract liabilities. Assets supporting these guarantees are recognized in invested assets according to their investment type.

Information Provided in Connect

Information Provided in Connection with Investments in Deferred Annuity Contracts andSignatureNotes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Information Provided in Connection with Investments in Deferred Annuity Contracts andSignatureNotes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.)	Note 23 Information Provided in Connection with Investments in Deferred Annuity Contracts and Signature Notes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.) The following condensed consolidated financial information, presented in accordance with IFRS, and the related disclosure have been included in these Consolidated Financial Statements with respect to JHUSA in compliance with Regulation S-X 12h-5 JHUSA maintains a book of deferred annuity contracts that feature a market value adjustment and are registered with the Commission. The deferred annuity contracts may contain variable investment options along with fixed investment period options, or may offer only fixed investment period options. The fixed investment period options enable the participant to invest fixed amounts of money for fixed terms at fixed interest rates, subject to a market value adjustment if the participant desires to terminate a fixed investment period before its maturity date. The annuity contract provides for the market value adjustment to keep the parties whole with respect to the fixed interest bargain for the entire fixed investment period. These fixed investment period options that contain a market value adjustment feature are referred to as “MVAs”. JHUSA may also sell medium-term notes to retail investors under its Signature Effective December 31, 2009, John Hancock Variable Life Insurance Company (the “Variable Company”) and John Hancock Life Insurance Company (the “Life Company”) merged with and into JHUSA. In connection with the mergers, JHUSA assumed the Variable Company’s rights and obligations with respect to the MVAs issued by the Variable Company and the Life Company’s rights and obligations with respect to the Signature MFC fully and unconditionally guaranteed the payment of JHUSA’s obligations under the MVAs and under the Signature Signature Signature Signature MFC’s guarantees of the Guaranteed Securities are unsecured obligations of MFC, and are subordinated in right of payment to the prior payment in full of all other obligations of MFC, except for other guarantees or obligations of MFC which by their terms are designated as ranking equally in right of payment with or subordinate to MFC’s guarantees of the Guaranteed Securities. The laws of the State of New York govern MFC’s guarantees of the Signature Signature MFC is a holding company. MFC’s assets primarily consist of investments in its subsidiaries. MFC’s cash flows primarily consist of dividends and interest payments from its operating subsidiaries, offset by expenses and shareholder dividends and MFC stock repurchases. As a holding company, MFC’s ability to meet its cash requirements, including, but not limited to, paying any amounts due under its guarantees, substantially depends upon dividends from its operating subsidiaries. These subsidiaries are subject to certain regulatory restrictions under laws in Canada, the United States and certain other countries, which may limit their ability to pay dividends or make contributions or loans to MFC. For example, some of MFC’s subsidiaries are subject to restrictions prescribed by the ICA on their ability to declare and pay dividends. The restrictions related to dividends imposed by the ICA are described in note 14. In the United States, insurance laws in Michigan, New York, and Massachusetts, the jurisdictions in which certain of MFC’s U.S. insurance company subsidiaries are domiciled, impose general limitations on the payment of dividends and other upstream distributions or loans by these insurance subsidiaries. These limitations are described in note 14. In Asia, the insurance laws of the jurisdictions in which MFC operates either provide for specific restrictions on the payment of dividends or other distributions or loans by subsidiaries or impose solvency or other financial tests, which could affect the ability of subsidiaries to pay dividends in certain circumstances. There can be no assurance that any current or future regulatory restrictions in Canada, the United States or Asia will not impair MFC’s ability to meet its cash requirements, including, but not limited to, paying any amounts due under its guarantee. The following condensed consolidated financial information, presented in accordance with IFRS, reflects the effects of the mergers and is provided in compliance with Regulation S-X 12h-5 Condensed Consolidated Statement of Financial Position As at December 31, 2017 MFC JHUSA Other Consolidation Consolidated Assets Invested assets $ 21 $ 108,144 $ 226,421 $ (364 ) $ 334,222 Investments in unconsolidated subsidiaries 48,374 6,509 14,999 (69,882 ) – Reinsurance assets – 49,927 8,281 (27,849 ) 30,359 Other assets 314 18,678 40,715 (19,062 ) 40,645 Segregated funds net assets – 176,139 149,812 (1,644 ) 324,307 Total assets $ 48,709 $ 359,397 $ 440,228 $ (118,801 ) $ 729,533 Liabilities and equity Insurance contract liabilities $ – $ 147,155 $ 185,884 $ (28,434 ) $ 304,605 Investment contract liabilities – 1,130 1,998 (2 ) 3,126 Other liabilities 297 19,399 41,394 (18,930 ) 42,160 Long-term debt 4,784 – 1 – 4,785 Capital instruments 2,615 584 5,188 – 8,387 Segregated funds net liabilities – 176,139 149,812 (1,644 ) 324,307 Shareholders’ equity 41,013 14,990 54,801 (69,791 ) 41,013 Participating policyholders’ equity – – 221 – 221 Non-controlling – – 929 – 929 Total liabilities and equity $ 48,709 $ 359,397 $ 440,228 $ (118,801 ) $ 729,533 Condensed Consolidated Statement of Financial Position As at December 31, 2016 MFC JHUSA Other Consolidation Consolidated Assets Invested assets $ 161 $ 109,063 $ 213,043 $ (398 ) $ 321,869 Investments in unconsolidated subsidiaries 47,758 6,457 17,504 (71,719 ) – Reinsurance assets – 51,537 10,069 (26,654 ) 34,952 Other assets 315 28,718 43,931 (24,281 ) 48,683 Segregated funds net assets – 174,917 142,400 (2,140 ) 315,177 Total assets $ 48,234 $ 370,692 $ 426,947 $ (125,192 ) $ 720,681 Liabilities and equity Insurance contract liabilities $ – $ 147,504 $ 177,524 $ (27,523 ) $ 297,505 Investment contract liabilities – 1,251 2,027 (3 ) 3,275 Other liabilities 252 28,892 43,994 (24,113 ) 49,025 Long-term debt 5,689 – 7 – 5,696 Capital instruments 461 627 6,092 – 7,180 Segregated funds net liabilities – 174,917 142,400 (2,140 ) 315,177 Shareholders’ equity 41,832 17,501 53,912 (71,413 ) 41,832 Participating policyholders’ equity – – 248 – 248 Non-controlling – – 743 – 743 Total liabilities and equity $ 48,234 $ 370,692 $ 426,947 $ (125,192 ) $ 720,681 Condensed Consolidated Statement of Income For the year ended December 31, 2017 MFC JHUSA Other Consolidation Consolidated Revenue Net premium income – 11,084 17,130 (4 ) 28,210 Net investment income (loss) 178 7,986 11,947 (744 ) 19,367 Net other revenue 4 2,874 10,912 (3,044 ) 10,746 Total revenue 182 21,944 39,989 (3,792 ) 58,323 Contract benefits and expenses Net benefits and claims – 20,803 19,179 (681 ) 39,301 Commissions, investment and general expenses 11 3,208 13,900 (2,097 ) 15,022 Other expenses 404 194 1,915 (1,014 ) 1,499 Total contract benefits and expenses 415 24,205 34,994 (3,792 ) 55,822 Income (loss) before income taxes (233 ) (2,261 ) 4,995 – 2,501 Income tax (expense) recovery 62 1,134 (1,435 ) – (239 ) Income (loss) after income taxes (171 ) (1,127 ) 3,560 – 2,262 Equity in net income (loss) of unconsolidated subsidiaries 2,275 628 (486 ) (2,417 ) – Net income (loss) $ 2,104 $ (499 ) $ 3,074 $ (2,417 ) $ 2,262 Net income (loss) attributed to: Non-controlling $ – $ – $ 194 $ – $ 194 Participating policyholders – (10 ) (36 ) 10 (36 ) Shareholders 2,104 (489 ) 2,916 (2,427 ) 2,104 $ 2,104 $ (499 ) $ 3,074 $ (2,417 ) $ 2,262 Condensed Consolidated Statement of Income For the year ended December 31, 2016 MFC JHUSA Other Consolidation Consolidated Revenue Net premium income – 5,021 22,611 – 27,632 Net investment income (loss) 475 6,191 9,092 (1,234 ) 14,524 Net other revenue 43 2,569 11,108 (2,539 ) 11,181 Total revenue 518 13,781 42,811 (3,773 ) 53,337 Contract benefits and expenses Net benefits and claims – 10,340 24,748 (954 ) 34,134 Commissions, investment and general expenses 11 3,272 13,016 (1,840 ) 14,459 Other expenses 259 59 2,076 (979 ) 1,415 Total contract benefits and expenses 270 13,671 39,840 (3,773 ) 50,008 Income (loss) before income taxes 248 110 2,971 – 3,329 Income tax (expense) recovery 28 251 (475 ) – (196 ) Income (loss) after income taxes 276 361 2,496 – 3,133 Equity in net income (loss) of unconsolidated subsidiaries 2,653 211 572 (3,436 ) – Net income (loss) $ 2,929 $ 572 $ 3,068 $ (3,436 ) $ 3,133 Net income (loss) attributed to: Non-controlling $ – $ – $ 143 $ – $ 143 Participating policyholders – (48 ) 61 48 61 Shareholders 2,929 620 2,864 (3,484 ) 2,929 $ 2,929 $ 572 $ 3,068 $ (3,436 ) $ 3,133 Consolidated Statement of Cash Flows For the year ended December 31, 2017 MFC (Guarantor) JHUSA (Issuer) Other subsidiaries Consolidation adjustments Consolidated MFC Operating activities Net income (loss) $ 2,104 $ (499 ) $ 3,074 $ (2,417 ) $ 2,262 Adjustments: Equity in net income of unconsolidated subsidiaries (2,275 ) (628 ) 486 2,417 – Increase (decrease) in insurance contract liabilities – 16,877 3,146 – 20,023 Increase (decrease) in investment contract liabilities – 55 118 – 173 (Increase) decrease in reinsurance assets – (1,890 ) 4,159 – 2,269 Amortization of (premium) discount on invested assets – 24 206 – 230 Other amortization 4 123 433 – 560 Net realized and unrealized (gains) losses and impairment on assets (7 ) (2,609 ) (4,572 ) – (7,188 ) Deferred income tax expense (recovery) (59 ) (2,239 ) 1,967 – (331 ) Stock option expense – (4 ) 19 – 15 Cash provided by (used in) operating activities before undernoted items (233 ) 9,210 9,036 – 18,013 Dividends from unconsolidated subsidiary 2,700 125 1,175 (4,000 ) – Changes in policy related and operating receivables and payables (45 ) (4,627 ) 4,450 – (222 ) Cash provided by (used in) operating activities 2,422 4,708 14,661 (4,000 ) 17,791 Investing activities Purchases and mortgage advances – (30,645 ) (56,579 ) – (87,224 ) Disposals and repayments – 26,952 43,768 – 70,720 Changes in investment broker net receivables and payables – 182 45 – 227 Investment in common shares of subsidiaries (2,473 ) – – 2,473 – Net cash decrease from sale and purchase of subsidiaries and businesses – – (10 ) – (10 ) Capital contribution to unconsolidated subsidiaries – (63 ) – 63 – Return of capital from unconsolidated subsidiaries – 11 – (11 ) – Notes receivable from affiliates – – 201 (201 ) – Notes receivable from parent – 368 24 (392 ) – Notes receivable from subsidiaries (16 ) (10 ) – 26 – Cash provided by (used in) investing activities (2,489 ) (3,205 ) (12,551 ) 1,958 (16,287 ) Financing activities Increase (decrease) in repurchase agreements and securities sold but not yet purchased – – (29 ) – (29 ) Redemption of long-term debt (600 ) – (7 ) – (607 ) Issue of capital instruments, net 2,209 – – – 2,209 Redemption of capital instruments – – (899 ) – (899 ) Secured borrowings from securitization transactions – – 741 – 741 Changes in deposits from Bank clients, net – – 261 – 261 Shareholders’ dividends paid in cash (1,780 ) – – – (1,780 ) Dividends paid to parent – (1,175 ) (2,825 ) 4,000 – Contributions from (distributions to) non-controlling – – (6 ) – (6 ) Common shares issued, net 124 – 2,473 (2,473 ) 124 Capital contributions by parent – – 63 (63 ) – Return of capital to parent – – (11 ) 11 – Notes payable to affiliates – (201 ) – 201 – Notes payable to parent – – 26 (26 ) – Notes payable to subsidiaries (24 ) – (368 ) 392 – Cash provided by (used in) financing activities (71 ) (1,376 ) (581 ) 2,042 14 Cash and short-term securities Increase (decrease) during the year (138 ) 127 1,529 – 1,518 Effect of foreign exchange rate changes on cash and short-term securities (2 ) (276 ) (380 ) – (658 ) Balance, beginning of year 161 3,787 10,290 – 14,238 Balance, end of year 21 3,638 11,439 – 15,098 Cash and short-term securities Beginning of year Gross cash and short-term securities 161 4,317 10,673 – 15,151 Net payments in transit, included in other liabilities – (530 ) (383 ) – (913 ) Net cash and short-term securities, beginning of year 161 3,787 10,290 – 14,238 End of year Gross cash and short-term securities 21 4,133 11,811 – 15,965 Net payments in transit, included in other liabilities – (495 ) (372 ) – (867 ) Net cash and short-term securities, end of year $ 21 $ 3,638 $ 11,439 $ – $ 15,098 Supplemental disclosures on cash flow information: Interest received $ 273 $ 4,391 $ 6,504 $ (572 ) $ 10,596 Interest paid 392 96 1,202 (572 ) 1,118 Income taxes paid 99 1,084 177 – 1,360 Consolidated Statement of Cash Flows For the year ended December 31, 2016 MFC (Guarantor) JHUSA (Issuer) Other subsidiaries Consolidation adjustments Consolidated MFC Operating activities Net income (loss) $ 2,929 $ 572 $ 3,068 $ (3,436 ) $ 3,133 Adjustments: Equity in net income of unconsolidated subsidiaries (2,653 ) (211 ) (572 ) 3,436 – Increase (decrease) in insurance contract liabilities – 5,225 12,789 – 18,014 Increase (decrease) in investment contract liabilities – 58 (58 ) – – (Increase) decrease in reinsurance assets – (1,444 ) 602 – (842 ) Amortization of (premium) discount on invested assets – (5 ) 83 – 78 Other amortization 2 284 407 – 693 Net realized and unrealized (gains) losses and impairment on assets (9 ) (917 ) (1,878 ) – (2,804 ) Deferred income tax expense (recovery) 3 391 (629 ) – (235 ) Stock option expense – (1 ) 20 – 19 Cash provided by (used in) operating activities before undernoted items 272 3,952 13,832 – 18,056 Dividends from unconsolidated subsidiary 1,950 111 – (2,061 ) – Changes in policy related and operating receivables and payables 171 (1,291 ) 81 – (1,039 ) Cash provided by (used in) operating activities 2,393 2,772 13,913 (2,061 ) 17,017 Investing activities Purchases and mortgage advances (32 ) (34,656 ) (69,371 ) – (104,059 ) Disposals and repayments – 32,343 49,658 – 82,001 Changes in investment broker net receivables and payables – (35 ) (151 ) – (186 ) Investment in common shares of subsidiaries (5,706 ) – – 5,706 – Net cash decrease from sale and purchase of subsidiaries and businesses – – (495 ) – (495 ) Capital contribution to unconsolidated subsidiaries – (350 ) – 350 – Return of capital from unconsolidated subsidiaries – 1 – (1 ) – Notes receivable from affiliates – – 544 (544 ) – Notes receivable from parent – – 344 (344 ) – Notes receivable from subsidiaries (6 ) (40 ) – 46 – Cash provided by (used in) investing activities (5,744 ) (2,737 ) (19,471 ) 5,213 (22,739 ) Financing activities (Decrease) increase in repurchase agreements and securities sold but not yet purchased – – (23 ) – (23 ) Issue of long-term debt, net 3,899 – – – 3,899 Redemption of long-term debt – – (158 ) – (158 ) Issue of capital instruments, net 479 – – – 479 Redemption of capital instruments – – (949 ) – (949 ) Secured borrowings from securitization transactions – – 847 – 847 Changes in deposits from Bank clients, net – – (157 ) – (157 ) Shareholders’ dividends paid in cash (1,593 ) – – – (1,593 ) Contributions from (distributions to) non-controlling – – 10 – 10 Common shares issued, net 66 – 5,706 (5,706 ) 66 Preferred shares issued, net 884 – – – 884 Dividends paid to parent – – (2,061 ) 2,061 – Capital contributions by parent – – 350 (350 ) – Return of capital to parent – – (1 ) 1 – Notes payable to affiliates – (544 ) – 544 – Notes payable to parent – – 46 (46 ) – Notes payable to subsidiaries (344 ) – – 344 – Cash provided by (used in) financing activities 3,391 (544 ) 3,610 (3,152 ) 3,305 Cash and short-term securities Increase (decrease) during the year 40 (509 ) (1,948 ) – (2,417 ) Effect of foreign exchange rate changes on cash and short-term securities (1 ) (149 ) (197 ) – (347 ) Balance, beginning of year 122 4,445 12,435 – 17,002 Balance, end of year 161 3,787 10,290 – 14,238 Cash and short-term securities Beginning of year Gross cash and short-term securities 122 4,938 12,825 – 17,885 Net payments in transit, included in other liabilities – (493 ) (390 ) – (883 ) Net cash and short-term securities, beginning of year 122 4,445 12,435 – 17,002 End of year Gross cash and short-term securities 161 4,317 10,673 – 15,151 Net payments in transit, included in other liabilities – (530 ) (383 ) – (913 ) Net cash and short-term securities, end of year $ 161 $ 3,787 $ 10,290 $ – $ 14,238 Supplemental disclosures on cash flow information: Interest received $ – $ 4,523 $ 6,795 $ (768 ) $ 10,550 Interest paid 210 144 1,397 (768 ) 983 Income taxes paid 35 68 738 – 841

Comparatives

Comparatives	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Comparatives	Note 24 Comparatives Certain comparative amounts have been reclassified to conform to the current year’s presentation.

IFRS 7 Disclosures

IFRS 7 Disclosures	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
IFRS 7 Disclosures	IFRS 7 Disclosures The shaded text and tables in the following sections of this MD&A represent our disclosure on market and liquidity risk in accordance with IFRS 7, “Financial Instruments – Disclosures,” and include a discussion on how we measure risk and our objectives, policies and methodologies for managing these risks. Therefore, the following shaded text and tables represent an integral part of our audited annual Consolidated Financial Statements for the years ended December 31, 2017 and December 31, 2016. The fact that certain text and tables are considered an integral part of the Consolidated Financial Statements does not imply that the disclosures are of any greater importance than the sections not part of the disclosure. Accordingly, the “Risk Management” disclosure should be read in its entirety. Market Risk Market risk is the risk of loss resulting from market price volatility, interest rate change, credit and swap spread changes, and from adverse foreign currency rate movements. Market price volatility primarily relates to changes in prices of publicly traded equities and alternative long-duration assets. Market Risk Management Strategy Market risk is governed by the Global Asset Liability Committee which oversees the overall market and liquidity risk program. Our overall strategy to manage our market risks incorporates several component strategies, each targeted to manage one or more of the market risks arising from our businesses. At an enterprise level, these strategies are designed to manage our aggregate exposures to market risks against economic capital, regulatory required capital and earnings-at-risk limits. The following table outlines our key market risks and identifies the risk management strategies which contribute to managing these risks. Risk Management Strategy Key Market Risk Publicly Interest Rate Alternative Long-Duration Foreign Product design and pricing X X X X Variable annuity guarantee dynamic hedging X X X Macro equity risk hedging X X Asset liability management X X X X Foreign exchange management X To reduce publicly traded equity performance risk, we primarily use a variable annuity guarantee dynamic hedging strategy which is complemented by a general macro equity risk hedging strategy. Our strategies employed for variable annuity guarantee dynamic hedging and macro equity risk hedging expose the Company to additional risks. See “Risk Factors” below. In general, to seek to reduce interest rate risk, we lengthen the duration of our fixed income investments in our liability and surplus segments by executing interest rate hedges. We seek to limit concentration risk associated with ALDA performance by investing in a diversified basket of assets including public and private equities, commercial real estate, infrastructure, timber, farmland real estate, and oil and gas assets. We further diversify risk by managing investments against established limits, including for industry type and corporate connection, commercial real estate type and geography, and timber and farmland property geography and crop type. Our foreign exchange risk management strategy is designed to hedge the sensitivity of our regulatory capital ratios to movements in foreign exchange rates. Our policy is to generally match the currency of our assets with the currency of the liabilities they support, and similarly, to generally match the currency of the assets in our shareholders’ equity account to the currency of our required capital. Where assets and liabilities are not currency matched, we seek to stabilize our capital ratios through the use of financial instruments such as derivatives. Product Design and Pricing Strategy Our policies, standards, and standards of practice with respect to product design and pricing are designed with the objective of aligning our product offerings with our risk taking philosophy and risk appetite, and in particular, that incremental risk generated from new sales aligns with our strategic risk objectives and risk limits. The specific design features of our product offerings, including level of benefit guarantees, policyholder options, fund offerings and availability restrictions as well as our associated investment strategies, help to mitigate the level of underlying risk. We regularly review and modify key features within our product offerings, including premiums and fee charges with a goal of meeting profit targets and staying within risk limits. Certain of our general fund adjustable benefit products have minimum rate guarantees. The rate guarantees for any particular policy are set at the time the policy is issued and governed by insurance regulation in each jurisdiction where the products are sold. The contractual provisions allow crediting rates to be re-set at pre-established intervals subject to the established minimum crediting rate guarantees. The Company may partially mitigate the interest rate exposure by setting new rates on new business and by adjusting rates on in-force business where permitted. In addition, the Company partially mitigates this interest rate risk through its asset liability management process, product design elements, and crediting rate strategies. New product initiatives, new reinsurance arrangements and material insurance underwriting initiatives must be reviewed and approved by the CRO or key individuals within risk management functions. Hedging Strategies for Variable Annuity and Other Equity Risks The Company’s exposure to movement in public equity market values primarily arises from variable annuity guarantees and to a smaller extent from asset-based fees and general fund public equity holdings. Dynamic hedging is the primary hedging strategy for variable annuity market risks. Dynamic hedging is employed for new variable annuity guarantees business when written or as soon as practical thereafter. We seek to manage public equity risk arising from other sources (not dynamically hedged) through our macro equity risk hedging strategy. We seek to manage interest rate risk arising from variable annuity business not dynamically hedged within our asset liability management strategy. Variable Annuity Dynamic Hedging Strategy The variable annuity dynamic hedging strategy is designed to hedge the sensitivity of variable annuity guarantee policy liabilities and available capital to fund performance (both public equity and bond funds) and interest rate movements. The objective of the variable annuity dynamic hedging strategy is to offset, as closely as possible, the change in the economic value of guarantees with the profit and loss from our hedge asset portfolio. The economic value of guarantees moves in close tandem, but not exactly, with our variable annuity guarantee policy liabilities, as it reflects best estimate liabilities and does not include any liability provisions for adverse deviations. Our current variable annuity guarantee dynamic hedging approach is to short exchange-traded equity index and government bond futures and execute currency futures and lengthening interest rate swaps to hedge sensitivity of policy liabilities to fund performance and interest rate movements arising from variable annuity guarantees. We dynamically rebalance these hedge instruments as market conditions change, in order to maintain the hedged position within established limits. Other derivative instruments (such as equity and interest rate options) are also utilized and we may consider the use of additional hedge instruments opportunistically in the future. Our variable annuity guarantee dynamic hedging strategy is not designed to completely offset the sensitivity of policy liabilities to all risks associated with the guarantees embedded in these products. The profit (loss) on the hedge instruments will not completely offset the underlying losses (gains) related to the guarantee liabilities hedged because: ∎ Policyholder behaviour and mortality experience are not hedged; ∎ Provisions for adverse deviation in the policy liabilities are not hedged; ∎ A portion of interest rate risk is not hedged; ∎ Credit spreads widen and actions are not taken to adjust accordingly; ∎ Fund performance on a small portion of the underlying funds is not hedged due to lack of availability of effective exchange-traded hedge instruments; ∎ Performance of the underlying funds hedged may differ from the performance of the corresponding hedge instruments; ∎ Correlations between interest rates and equity markets could lead to unfavourable material impacts; ∎ Unfavourable hedge rebalancing costs can be incurred during periods of high volatility from equity markets, bond markets and/or interest rates. The impact is magnified when these impacts occur concurrently; and ∎ Not all other risks are hedged. Macro Equity Risk Hedging Strategy The objective of the macro equity risk hedging program is to maintain our overall earnings sensitivity to public equity market movements within our Board approved risk appetite limits. The macro equity risk hedging program is designed to hedge earnings sensitivity due to movements in public equity markets arising from all sources (outside of dynamically hedged exposures). Sources of equity market sensitivity addressed by the macro equity risk hedging program include: ∎ Residual equity and currency exposure from variable annuity guarantees not dynamically hedged; ∎ General fund equity holdings backing non-participating liabilities; ∎ Variable life insurance; ∎ Unhedged provisions for adverse deviation related to variable annuity guarantees dynamically hedged; and ∎ Variable annuity fees not associated with guarantees and fees on segregated funds without guarantees, mutual funds and institutional assets managed. Asset Liability Management Strategy Our asset liability management strategy is designed to help ensure that the market risks embedded in our assets and liabilities held in the Company’s general fund are effectively managed and that risk exposures arising from these assets and liabilities are maintained below targeted levels. The embedded market risks include risks related to the level and movement of interest rates and credit spreads, public equity market performance, ALDA performance and foreign exchange rate movements. General fund product liabilities are segmented into groups with similar characteristics that are supported by specific asset segments. We seek to manage each segment to a target investment strategy appropriate for the premium and benefit pattern, policyholder options and guarantees, and crediting rate strategies of the products they support. Similar strategies are established for assets in the Company’s surplus account. The strategies are set using portfolio analysis techniques intended to optimize returns, subject to considerations related to regulatory and economic capital requirements, and risk tolerances. They are designed to achieve broad diversification across asset classes and individual investment risks while being suitably aligned with the liabilities they support. The strategies encompass asset mix, quality rating, term profile, liquidity, currency and industry concentration targets. Products which feature guaranteed liability cash flows (i.e. where the projected net flows are not materially dependent upon economic scenarios) are managed to a target return investment strategy. The products backed by this asset segment include: ∎ Accumulation annuities (other than annuities with pass-through features), which are primarily short-to-medium-term obligations and offer interest rate guarantees for specified terms on single premiums. Withdrawals may or may not have market value adjustments; ∎ Payout annuities, which have no surrender options and include predictable and very long-dated obligations; and ∎ Insurance products, with recurring premiums extending many years in the future, and which also include a significant component of very long-dated obligations. We seek to manage the assets backing these long-dated benefits to achieve a target return sufficient to support the obligations over their lifetime, subject to established risk tolerances, by investing in a basket of diversified ALDA with the balance invested in fixed income securities. Utilizing ALDA to partially support these products is intended to enhance long-term investment returns and reduce aggregate risk through diversification. The size of the target ALDA portfolio is dependent upon the size and term of each segment’s liability obligations, subject to risk tolerance levels. We seek to manage fixed income assets to a benchmark developed to minimize interest rate risk against the residual liabilities and to achieve target returns/spreads required to preserve long-term interest rate investment assumptions used in liability pricing. For insurance and annuity products where significant pass-through features exist, a total return strategy approach is used, generally combining fixed income and ALDA. ALDA may be included to enhance long-term investment returns and reduce aggregate risk through diversification. Target investment strategies are established using portfolio analysis techniques that seek to optimize long-term investment returns while considering the risks related to embedded product guarantees and policyholder withdrawal options, the impact of regulatory and economic capital requirements and management tolerances with respect to short-term income volatility and long-term tail risk exposure. Shorter-duration liabilities such as fixed deferred annuities generally do not incorporate ALDA in their target asset mixes. In our general fund, we seek to limit concentration risk associated with ALDA performance by investing in a diversified basket of assets including public and private equities, commercial real estate, infrastructure, timber, farmland real estate, and oil and gas assets. We further diversify risk by managing investments against established limits, including for industry type and corporate connection, commercial real estate type and geography, and timber and farmland property geography and crop type. Authority to manage our investment portfolios is delegated to investment professionals who manage to benchmarks derived from the target investment strategies established for each segment, including interest rate risk tolerances. Interest rate risk exposure measures are monitored and communicated to portfolio managers with frequencies ranging from daily to annually, depending on the type of liability. Asset portfolio rebalancing, accomplished using cash investments or derivatives, may occur at frequencies ranging from daily to monthly, depending on our established risk tolerances and the potential for changes in the profile of the assets and liabilities. Our asset liability management strategy incorporates a wide variety of risk measurement, risk mitigation and risk management, and hedging processes. The liabilities and risks to which the Company is exposed, however, cannot be completely matched or hedged due to both limitations on instruments available in investment markets and uncertainty of impact on liability cash flows from policyholder experience/behaviour. As noted above, on December 22, 2017 we announced our decision to reduce the allocation to ALDA in the portfolio asset mix supporting our North American legacy businesses over the next 12-18 months. This decision will reduce our exposure to ALDA returns, excluding the impact of U.S. Tax Reform, and excluding the impact of additional interest rate hedging, generally increases our exposure to changes in interest rates. Foreign Exchange Risk Management Strategy Our foreign exchange risk management strategy is designed to hedge the sensitivity of our regulatory capital ratios to movements in foreign exchange rates. In particular, the objective of the strategy is to offset within acceptable tolerance levels, changes in required capital with changes in available capital that result from currency movements. These changes occur when assets and liabilities related to business conducted in currencies other than Canadian dollars are translated to Canadian dollars at period ending exchange rates. Our policy is to generally match the currency of our assets with the currency of the liabilities they support, and similarly, to generally match the currency of the assets in our shareholders’ equity account to the currency of our required capital. Where assets and liabilities are not currency matched, we would seek to stabilize our capital ratios through the use of forward contracts and currency swaps. Risk exposure limits are measured in terms of potential changes in capital ratios due to foreign exchange rate movements, determined to represent a specified likelihood of occurrence based on internal models. Market Risk Sensitivities and Market Risk Exposure Measures Variable Annuity and Segregated Fund Guarantees Sensitivities and Risk Exposure Measures Guarantees on variable annuity products and segregated funds may include one or more of death, maturity, income and withdrawal guarantees. Variable annuity and segregated fund guarantees are contingent and only payable upon the occurrence of the relevant event, if fund values at that time are below guaranteed values. Depending on future equity market levels, liabilities on current in-force business would be due primarily in the period from 2018 to 2038. We seek to mitigate a portion of the risks embedded in our retained (i.e. net of reinsurance) variable annuity and segregated fund guarantee business through the combination of our dynamic and macro hedging strategies (see “Publicly Traded Equity Performance Risk” below). The table below shows selected information regarding the Company’s variable annuity and segregated fund investment-related guarantees gross and net of reinsurance. Variable annuity and segregated fund guarantees, net of reinsurance As at December 31, 2017 2016 Guarantee Fund value Amount (4),(5) Guarantee Fund value Amount (4),(5) Guaranteed minimum income benefit (1) $ 5,201 $ 4,195 $ 1,074 $ 5,987 $ 4,432 $ 1,570 Guaranteed minimum withdrawal benefit 61,767 56,512 5,943 68,594 59,593 9,135 Guaranteed minimum accumulation benefit 18,162 18,705 11 19,482 19,989 27 Gross living benefits (2) 85,130 79,412 7,028 94,063 84,014 10,732 Gross death benefits (3) 10,743 16,973 1,001 12,200 16,614 1,350 Total gross of reinsurance 95,873 96,385 8,029 106,263 100,628 12,082 Living benefits reinsured 4,522 3,667 911 5,241 3,903 1,349 Death benefits reinsured 3,014 3,040 435 3,429 3,202 564 Total reinsured 7,536 6,707 1,346 8,670 7,105 1,913 Total, net of reinsurance $ 88,337 $ 89,678 $ 6,683 $ 97,593 $ 93,523 $ 10,169 (1) Contracts with guaranteed long-term care benefits are included in this category. (2) Where a policy includes both living and death benefits, the guarantee in excess of the living benefit is included in the death benefit category as outlined in footnote 3. (3) Death benefits include stand-alone guarantees and guarantees in excess of living benefit guarantees where both death and living benefits are provided on a policy. (4) Amount at risk (in-the-money amount) is the excess of guarantee values over fund values on all policies where the guarantee value exceeds the fund value. This amount is not currently payable. For guaranteed minimum death benefit, the amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance. For guaranteed minimum income benefit, the amount at risk is defined as the excess of the current annuitization income base over the current account value. For all guarantees, the amount at risk is floored at zero at the single contract level. (5) The amount at risk net of reinsurance at December 31, 2017 was $6,683 million (2016 – $10,169 million) of which: US$3,982 million (2016 – US$6,008 million) was on our U.S. business, $1,342 million (2016 – $1,499 million) was on our Canadian business, US$95 million (2016 – US$206 million) was on our Japan business and US$181 million (2016 – US$244 million) was related to Asia (other than Japan) and our run-off reinsurance business. Investment categories for variable contracts with guarantees Variable contracts with guarantees, including variable annuities and variable life, are invested, at the policyholder’s discretion subject to contract limitations, in various fund types within the segregated fund accounts and other investments. The account balances by investment category are set out below. As at December 31, ($ millions) Investment category 2017 2016 Equity funds $ 47,508 $ 41,805 Balanced funds 47,369 57,571 Bond funds 13,095 11,588 Money market funds 1,905 2,127 Other fixed interest rate investments 1,777 1,807 Total $ 111,654 $ 114,898 Caution Related to Sensitivities In the sections that follow, we provide sensitivities and risk exposure measures for certain risks. These include sensitivities due to specific changes in market prices and interest rate levels projected using internal models as at a specific date, and are measured relative to a starting level reflecting the Company’s assets and liabilities at that date and the actuarial factors, investment activity and investment returns assumed in the determination of policy liabilities. The risk exposures measure the impact of changing one factor at a time and assume that all other factors remain unchanged. Actual results can differ significantly from these estimates for a variety of reasons including the interaction among these factors when more than one changes; changes in actuarial and investment return and future investment activity assumptions; actual experience differing from the assumptions, changes in business mix, effective tax rates and other market factors; and the general limitations of our internal models. For these reasons, the sensitivities should only be viewed as directional estimates of the underlying sensitivities for the respective factors based on the assumptions outlined below. Given the nature of these calculations, we cannot provide assurance that the actual impact on net income attributed to shareholders will be as indicated or on MLI’s MCCSR ratio will be as indicated. As noted above, LICAT replaced the MCCSR regulatory capital framework on January 1, 2018 and we will update the sensitivity measures for the change in capital framework in May 2018. Publicly Traded Equity Performance Risk Sensitivities and Exposure Measures As outlined above, the macro hedging strategy is designed to mitigate public equity risk arising from variable annuity guarantees not dynamically hedged and from other products and fees. In addition, our variable annuity guarantee dynamic hedging strategy is not designed to completely offset the sensitivity of policy liabilities to all risks associated with the guarantees embedded in these products. The table below shows the potential impact on net income attributed to shareholders resulting from an immediate 10%, 20% and 30% change in market values of publicly traded equities followed by a return to the expected level of growth assumed in the valuation of policy liabilities. If market values were to remain flat for an entire year, the potential impact would be roughly equivalent to an immediate decline in market values equal to the expected level of annual growth assumed in the valuation of policy liabilities. Further, if after market values dropped 10%, 20% or 30% they continued to decline, remained flat, or grew more slowly than assumed in the valuation the potential impact on net income attributed to shareholders could be considerably more than shown. Refer to “Sensitivity of Earnings to Changes in Assumptions” for more information on the level of growth assumed and on the net income sensitivity to changes in these long-term assumptions. The potential impact is shown after taking into account the impact of the change in markets on the hedge assets. While we cannot reliably estimate the amount of the change in dynamically hedged variable annuity guarantee liabilities that will not be offset by the profit or loss on the dynamic hedge assets, we make certain assumptions for the purposes of estimating the impact on net income attributed to shareholders. This estimate assumes that the performance of the dynamic hedging program would not completely offset the gain/loss from the dynamically hedged variable annuity guarantee liabilities. It assumes that the hedge assets are based on the actual position at the period end, and that equity hedges in the dynamic program are rebalanced at 5% intervals. In addition, we assume that the macro hedge assets are rebalanced in line with market changes. It is also important to note that these estimates are illustrative, and that the hedging program may underperform these estimates, particularly during periods of high realized volatility and/or periods where both interest rates and equity market movements are unfavourable. The Standards of Practice for the valuation of insurance contract liabilities and guidance published by the CIA constrain the investment return assumptions for public equities and certain ALDA assets based on historical return benchmarks for public equities. The potential impact on net income attributed to shareholders does not take into account possible changes to investment return assumptions resulting from the impact of declines in public equity market values on these historical return benchmarks. Potential immediate impact on net income attributed to shareholders arising from changes to public equity returns (1),(2),(3),(4) As at December 31, 2017 ($ millions) -30% -20% -10% 10% 20% 30% Underlying sensitivity to net income attributed to shareholders (5) Variable annuity guarantees $ (3,940 ) $ (2,260 ) $ (960 ) $ 670 $ 1,110 $ 1,410 Asset based fees (510 ) (340 ) (170 ) 170 340 510 General fund equity investments (6) (930 ) (590 ) (270 ) 270 540 810 Total underlying sensitivity before hedging (5,380 ) (3,190 ) (1,400 ) 1,110 1,990 2,730 Impact of macro and dynamic hedge assets (7) 3,220 1,850 790 (640 ) (1,100 ) (1,410 ) Net potential impact on net income after impact of hedging $ (2,160 ) $ (1,340 ) $ (610 ) $ 470 $ 890 $ 1,320 As at December 31, 2016 ($ millions) -30% -20% -10% 10% 20% 30% Underlying sensitivity to net income attributed to shareholders (5) Variable annuity guarantees $ (4,830 ) $ (2,920 ) $ (1,290 ) $ 1,000 $ 1,690 $ 2,170 Asset based fees (410 ) (280 ) (140 ) 140 280 410 General fund equity investments (6) (910 ) (590 ) (270 ) 240 490 750 Total underlying sensitivity before hedging (6,150 ) (3,790 ) (1,700 ) 1,380 2,460 3,330 Impact of macro and dynamic hedge assets (7) 4,050 2,440 1,060 (910 ) (1,610 ) (2,160 ) Net potential impact on net income attributed to shareholders after impact of hedging $ (2,100 ) $ (1,350 ) $ (640 ) $ 470 $ 850 $ 1,170 (1) See “Caution Related to Sensitivities” above. (2) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018. Due to the lower effective tax rate, the after-tax impact of changes to public equity returns increases. (3) The tables above show the potential impact on net income attributed to shareholders resulting from an immediate 10%, 20% and 30% change in market values of publicly traded equities followed by a return to the expected level of growth assumed in the valuation of policy liabilities. (4) Please refer to “Sensitivity of Earnings to Changes in Assumptions” for more information on the level of growth assumed and on the net income sensitivity to changes in these long-term assumptions. (5) Defined as earnings sensitivity to a change in public equity markets including settlements on reinsurance contracts, but before the offset of hedge assets or other risk mitigants. (6) This impact for general fund equities is calculated as at a point-in-time and does not include: (i) any potential impact on public equity weightings; (ii) any gains or losses on AFS public equities held in the Corporate and Other segment; or (iii) any gains or losses on public equity investments held in Manulife Bank. The participating policy funds are largely self-supporting and generate no material impact on net income attributed to shareholders as a result of changes in equity markets. (7) Includes the impact of rebalancing equity hedges in the macro and dynamic hedging program. The impact of dynamic hedge rebalancing represents the impact of rebalancing equity hedges for dynamically hedged variable annuity guarantee best estimate liabilities at 5% intervals, but does not include any impact in respect of other sources of hedge ineffectiveness (e.g. fund tracking, realized volatility and equity, interest rate correlations different from expected among other factors). Changes in equity markets impact our available and required components of the MCCSR ratio. The following table shows the potential impact to MLI’s MCCSR ratio resulting from changes in public equity market values, assuming that the change in the value of the hedge assets does not completely offset the change of the related variable annuity guarantee liabilities. Potential immediate impact on MLI’s MCCSR ratio arising from public equity returns different than the expected return for policy liability valuation (1),(2),(3),(4) Impact on MLI’s MCCSR ratio Percentage points -30% -20% -10% 10% 20% 30% December 31, 2017 (14 ) (8 ) (4 ) 3 11 14 December 31, 2016 (12 ) (8 ) (4 ) 3 14 18 (1) See “Caution Related to Sensitivities” above. In addition, estimates exclude changes to the net actuarial gains/losses with respect to the Company’s pension obligations as a result of changes in equity markets, as the impact on the quoted sensitivities is not considered to be material. (2) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018. Due to the lower effective tax rate, the after-tax impact of changes to public equity returns increases. (3) The potential impact is shown assuming that the change in value of the hedge assets does not completely offset the change in the dynamically hedged variable annuity guarantee liabilities. The estimated amount that would not be completely offset relates to our practices of not hedging the provisions for adverse deviation and of rebalancing equity hedges for dynamically hedged variable annuity liabilities at 5% intervals. (4) OSFI rules for segregated fund guarantees reflect full capital impacts of shocks over 20 quarters within a prescribed range. As such, the deterioration in equity markets could lead to further increases in capital requirements after the initial shock. Interest Rate and Spread Risk Sensitivities and Exposure Measures At December 31, 2017, we estimated the sensitivity of our net income attributed to shareholders to a 50 basis point parallel decline in interest rates to be a charge of $200 million, and to a 50 basis point increase in interest rates to be a benefit of $100 million. The table below shows the potential impact on net income attributed to shareholders from a 50 basis point parallel move in interest rates. This includes a change of 50 basis points in current government, swap and corporate rates for all maturities across all markets with no change in credit spreads between government, swap and corporate rates, and with a floor of zero on government rates where government rates are not currently negative, relative to the rates assumed in the valuation of policy liabilities, including embedded derivatives. For variable annuity guarantee liabilities that are dynamically hedged, it is assumed that interest rate hedges are rebalanced at 20 basis point intervals. As the sensitivity to a 50 basis point change in interest rates includes any associated change in the applicable reinvestment scenarios, the impact of changes to interest rates for less than, or more than 50 basis points is unlikely to be linear. Furthermore, our sensitivities are not consistent across all regions in which we operate, and the impact of yield curve changes will vary depending upon the geography where the change occurs. Reinvestment assumptions used in the valuation of policy liabilities tend to amplify the negative effects of a decrease in interest rates, and dampen the positive effects of interest rate increases. This is because the reinvestment assumptions used in the valuation of our insurance liabilities are based on interest rate scenarios and calibration criteria set by the Actuarial Standards Board, while our interest rate hedges are valued using current market interest rates. Therefore, in any particular quarter, changes to the reinvestment assumptions are not fu

Nature of Operations and Sign32

Nature of Operations and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Market Risk	Market Risk Market risk is the risk of loss resulting from market price volatility, interest rate change, credit and swap spread changes, and from adverse foreign currency rate movements. Market price volatility primarily relates to changes in prices of publicly traded equities and alternative long-duration assets.
Market Risk Management Strateg	Market Risk Management Strategy Market risk is governed by the Global Asset Liability Committee which oversees the overall market and liquidity risk program. Our overall strategy to manage our market risks incorporates several component strategies, each targeted to manage one or more of the market risks arising from our businesses. At an enterprise level, these strategies are designed to manage our aggregate exposures to market risks against economic capital, regulatory required capital and earnings-at-risk limits. The following table outlines our key market risks and identifies the risk management strategies which contribute to managing these risks. Risk Management Strategy Key Market Risk Publicly Interest Rate Alternative Long-Duration Foreign Product design and pricing X X X X Variable annuity guarantee dynamic hedging X X X Macro equity risk hedging X X Asset liability management X X X X Foreign exchange management X To reduce publicly traded equity performance risk, we primarily use a variable annuity guarantee dynamic hedging strategy which is complemented by a general macro equity risk hedging strategy. Our strategies employed for variable annuity guarantee dynamic hedging and macro equity risk hedging expose the Company to additional risks. See “Risk Factors” below. In general, to seek to reduce interest rate risk, we lengthen the duration of our fixed income investments in our liability and surplus segments by executing interest rate hedges. We seek to limit concentration risk associated with ALDA performance by investing in a diversified basket of assets including public and private equities, commercial real estate, infrastructure, timber, farmland real estate, and oil and gas assets. We further diversify risk by managing investments against established limits, including for industry type and corporate connection, commercial real estate type and geography, and timber and farmland property geography and crop type. Our foreign exchange risk management strategy is designed to hedge the sensitivity of our regulatory capital ratios to movements in foreign exchange rates. Our policy is to generally match the currency of our assets with the currency of the liabilities they support, and similarly, to generally match the currency of the assets in our shareholders’ equity account to the currency of our required capital. Where assets and liabilities are not currency matched, we seek to stabilize our capital ratios through the use of financial instruments such as derivatives.
Product Design and Pricing Strategy	Product Design and Pricing Strategy Our policies, standards, and standards of practice with respect to product design and pricing are designed with the objective of aligning our product offerings with our risk taking philosophy and risk appetite, and in particular, that incremental risk generated from new sales aligns with our strategic risk objectives and risk limits. The specific design features of our product offerings, including level of benefit guarantees, policyholder options, fund offerings and availability restrictions as well as our associated investment strategies, help to mitigate the level of underlying risk. We regularly review and modify key features within our product offerings, including premiums and fee charges with a goal of meeting profit targets and staying within risk limits. Certain of our general fund adjustable benefit products have minimum rate guarantees. The rate guarantees for any particular policy are set at the time the policy is issued and governed by insurance regulation in each jurisdiction where the products are sold. The contractual provisions allow crediting rates to be re-set at pre-established intervals subject to the established minimum crediting rate guarantees. The Company may partially mitigate the interest rate exposure by setting new rates on new business and by adjusting rates on in-force business where permitted. In addition, the Company partially mitigates this interest rate risk through its asset liability management process, product design elements, and crediting rate strategies. New product initiatives, new reinsurance arrangements and material insurance underwriting initiatives must be reviewed and approved by the CRO or key individuals within risk management functions.
Hedging Strategies for Variable Annuity and Other Equity Risks	Hedging Strategies for Variable Annuity and Other Equity Risks The Company’s exposure to movement in public equity market values primarily arises from variable annuity guarantees and to a smaller extent from asset-based fees and general fund public equity holdings. Dynamic hedging is the primary hedging strategy for variable annuity market risks. Dynamic hedging is employed for new variable annuity guarantees business when written or as soon as practical thereafter. We seek to manage public equity risk arising from other sources (not dynamically hedged) through our macro equity risk hedging strategy. We seek to manage interest rate risk arising from variable annuity business not dynamically hedged within our asset liability management strategy.
Variable Annuity Dynamic Hedging Strategy	Variable Annuity Dynamic Hedging Strategy The variable annuity dynamic hedging strategy is designed to hedge the sensitivity of variable annuity guarantee policy liabilities and available capital to fund performance (both public equity and bond funds) and interest rate movements. The objective of the variable annuity dynamic hedging strategy is to offset, as closely as possible, the change in the economic value of guarantees with the profit and loss from our hedge asset portfolio. The economic value of guarantees moves in close tandem, but not exactly, with our variable annuity guarantee policy liabilities, as it reflects best estimate liabilities and does not include any liability provisions for adverse deviations. Our current variable annuity guarantee dynamic hedging approach is to short exchange-traded equity index and government bond futures and execute currency futures and lengthening interest rate swaps to hedge sensitivity of policy liabilities to fund performance and interest rate movements arising from variable annuity guarantees. We dynamically rebalance these hedge instruments as market conditions change, in order to maintain the hedged position within established limits. Other derivative instruments (such as equity and interest rate options) are also utilized and we may consider the use of additional hedge instruments opportunistically in the future. Our variable annuity guarantee dynamic hedging strategy is not designed to completely offset the sensitivity of policy liabilities to all risks associated with the guarantees embedded in these products. The profit (loss) on the hedge instruments will not completely offset the underlying losses (gains) related to the guarantee liabilities hedged because: ∎ Policyholder behaviour and mortality experience are not hedged; ∎ Provisions for adverse deviation in the policy liabilities are not hedged; ∎ A portion of interest rate risk is not hedged; ∎ Credit spreads widen and actions are not taken to adjust accordingly; ∎ Fund performance on a small portion of the underlying funds is not hedged due to lack of availability of effective exchange-traded hedge instruments; ∎ Performance of the underlying funds hedged may differ from the performance of the corresponding hedge instruments; ∎ Correlations between interest rates and equity markets could lead to unfavourable material impacts; ∎ Unfavourable hedge rebalancing costs can be incurred during periods of high volatility from equity markets, bond markets and/or interest rates. The impact is magnified when these impacts occur concurrently; and ∎ Not all other risks are hedged.
Macro Equity Risk Hedging Strategy	Macro Equity Risk Hedging Strategy The objective of the macro equity risk hedging program is to maintain our overall earnings sensitivity to public equity market movements within our Board approved risk appetite limits. The macro equity risk hedging program is designed to hedge earnings sensitivity due to movements in public equity markets arising from all sources (outside of dynamically hedged exposures). Sources of equity market sensitivity addressed by the macro equity risk hedging program include: ∎ Residual equity and currency exposure from variable annuity guarantees not dynamically hedged; ∎ General fund equity holdings backing non-participating liabilities; ∎ Variable life insurance; ∎ Unhedged provisions for adverse deviation related to variable annuity guarantees dynamically hedged; and ∎ Variable annuity fees not associated with guarantees and fees on segregated funds without guarantees, mutual funds and institutional assets managed.
Asset Liability Management Strategy	Asset Liability Management Strategy Our asset liability management strategy is designed to help ensure that the market risks embedded in our assets and liabilities held in the Company’s general fund are effectively managed and that risk exposures arising from these assets and liabilities are maintained below targeted levels. The embedded market risks include risks related to the level and movement of interest rates and credit spreads, public equity market performance, ALDA performance and foreign exchange rate movements. General fund product liabilities are segmented into groups with similar characteristics that are supported by specific asset segments. We seek to manage each segment to a target investment strategy appropriate for the premium and benefit pattern, policyholder options and guarantees, and crediting rate strategies of the products they support. Similar strategies are established for assets in the Company’s surplus account. The strategies are set using portfolio analysis techniques intended to optimize returns, subject to considerations related to regulatory and economic capital requirements, and risk tolerances. They are designed to achieve broad diversification across asset classes and individual investment risks while being suitably aligned with the liabilities they support. The strategies encompass asset mix, quality rating, term profile, liquidity, currency and industry concentration targets.
Foreign Exchange Risk Management Strategy	Foreign Exchange Risk Management Strategy Our foreign exchange risk management strategy is designed to hedge the sensitivity of our regulatory capital ratios to movements in foreign exchange rates. In particular, the objective of the strategy is to offset within acceptable tolerance levels, changes in required capital with changes in available capital that result from currency movements. These changes occur when assets and liabilities related to business conducted in currencies other than Canadian dollars are translated to Canadian dollars at period ending exchange rates. Our policy is to generally match the currency of our assets with the currency of the liabilities they support, and similarly, to generally match the currency of the assets in our shareholders’ equity account to the currency of our required capital. Where assets and liabilities are not currency matched, we would seek to stabilize our capital ratios through the use of forward contracts and currency swaps. Risk exposure limits are measured in terms of potential changes in capital ratios due to foreign exchange rate movements, determined to represent a specified likelihood of occurrence based on internal models.
Market Risk Sensitivities and Market Risk Exposure Measures	Market Risk Sensitivities and Market Risk Exposure Measures Variable Annuity and Segregated Fund Guarantees Sensitivities and Risk Exposure Measures Guarantees on variable annuity products and segregated funds may include one or more of death, maturity, income and withdrawal guarantees. Variable annuity and segregated fund guarantees are contingent and only payable upon the occurrence of the relevant event, if fund values at that time are below guaranteed values. Depending on future equity market levels, liabilities on current in-force business would be due primarily in the period from 2018 to 2038. We seek to mitigate a portion of the risks embedded in our retained (i.e. net of reinsurance) variable annuity and segregated fund guarantee business through the combination of our dynamic and macro hedging strategies (see “Publicly Traded Equity Performance Risk” below). The table below shows selected information regarding the Company’s variable annuity and segregated fund investment-related guarantees gross and net of reinsurance. Variable annuity and segregated fund guarantees, net of reinsurance As at December 31, 2017 2016 Guarantee Fund value Amount (4),(5) Guarantee Fund value Amount (4),(5) Guaranteed minimum income benefit (1) $ 5,201 $ 4,195 $ 1,074 $ 5,987 $ 4,432 $ 1,570 Guaranteed minimum withdrawal benefit 61,767 56,512 5,943 68,594 59,593 9,135 Guaranteed minimum accumulation benefit 18,162 18,705 11 19,482 19,989 27 Gross living benefits (2) 85,130 79,412 7,028 94,063 84,014 10,732 Gross death benefits (3) 10,743 16,973 1,001 12,200 16,614 1,350 Total gross of reinsurance 95,873 96,385 8,029 106,263 100,628 12,082 Living benefits reinsured 4,522 3,667 911 5,241 3,903 1,349 Death benefits reinsured 3,014 3,040 435 3,429 3,202 564 Total reinsured 7,536 6,707 1,346 8,670 7,105 1,913 Total, net of reinsurance $ 88,337 $ 89,678 $ 6,683 $ 97,593 $ 93,523 $ 10,169 (1) Contracts with guaranteed long-term care benefits are included in this category. (2) Where a policy includes both living and death benefits, the guarantee in excess of the living benefit is included in the death benefit category as outlined in footnote 3. (3) Death benefits include stand-alone guarantees and guarantees in excess of living benefit guarantees where both death and living benefits are provided on a policy. (4) Amount at risk (in-the-money amount) is the excess of guarantee values over fund values on all policies where the guarantee value exceeds the fund value. This amount is not currently payable. For guaranteed minimum death benefit, the amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance. For guaranteed minimum income benefit, the amount at risk is defined as the excess of the current annuitization income base over the current account value. For all guarantees, the amount at risk is floored at zero at the single contract level. (5) The amount at risk net of reinsurance at December 31, 2017 was $6,683 million (2016 – $10,169 million) of which: US$3,982 million (2016 – US$6,008 million) was on our U.S. business, $1,342 million (2016 – $1,499 million) was on our Canadian business, US$95 million (2016 – US$206 million) was on our Japan business and US$181 million (2016 – US$244 million) was related to Asia (other than Japan) and our run-off reinsurance business.
Investment categories for variable contracts with guarantees	Investment categories for variable contracts with guarantees Variable contracts with guarantees, including variable annuities and variable life, are invested, at the policyholder’s discretion subject to contract limitations, in various fund types within the segregated fund accounts and other investments. The account balances by investment category are set out below. As at December 31, ($ millions) Investment category 2017 2016 Equity funds $ 47,508 $ 41,805 Balanced funds 47,369 57,571 Bond funds 13,095 11,588 Money market funds 1,905 2,127 Other fixed interest rate investments 1,777 1,807 Total $ 111,654 $ 114,898
Caution Related to Sensitivities	Caution Related to Sensitivities In the sections that follow, we provide sensitivities and risk exposure measures for certain risks. These include sensitivities due to specific changes in market prices and interest rate levels projected using internal models as at a specific date, and are measured relative to a starting level reflecting the Company’s assets and liabilities at that date and the actuarial factors, investment activity and investment returns assumed in the determination of policy liabilities. The risk exposures measure the impact of changing one factor at a time and assume that all other factors remain unchanged. Actual results can differ significantly from these estimates for a variety of reasons including the interaction among these factors when more than one changes; changes in actuarial and investment return and future investment activity assumptions; actual experience differing from the assumptions, changes in business mix, effective tax rates and other market factors; and the general limitations of our internal models. For these reasons, the sensitivities should only be viewed as directional estimates of the underlying sensitivities for the respective factors based on the assumptions outlined below. Given the nature of these calculations, we cannot provide assurance that the actual impact on net income attributed to shareholders will be as indicated or on MLI’s MCCSR ratio will be as indicated. As noted above, LICAT replaced the MCCSR regulatory capital framework on January 1, 2018 and we will update the sensitivity measures for the change in capital framework in May 2018.
Publicly Traded Equity Performance Risk Sensitivities and Exposure Measures	Publicly Traded Equity Performance Risk Sensitivities and Exposure Measures As outlined above, the macro hedging strategy is designed to mitigate public equity risk arising from variable annuity guarantees not dynamically hedged and from other products and fees. In addition, our variable annuity guarantee dynamic hedging strategy is not designed to completely offset the sensitivity of policy liabilities to all risks associated with the guarantees embedded in these products.
Interest Rate and Spread Risk Sensitivities and Exposure Measures	Interest Rate and Spread Risk Sensitivities and Exposure Measures At December 31, 2017, we estimated the sensitivity of our net income attributed to shareholders to a 50 basis point parallel decline in interest rates to be a charge of $200 million, and to a 50 basis point increase in interest rates to be a benefit of $100 million. The table below shows the potential impact on net income attributed to shareholders from a 50 basis point parallel move in interest rates. This includes a change of 50 basis points in current government, swap and corporate rates for all maturities across all markets with no change in credit spreads between government, swap and corporate rates, and with a floor of zero on government rates where government rates are not currently negative, relative to the rates assumed in the valuation of policy liabilities, including embedded derivatives. For variable annuity guarantee liabilities that are dynamically hedged, it is assumed that interest rate hedges are rebalanced at 20 basis point intervals. As the sensitivity to a 50 basis point change in interest rates includes any associated change in the applicable reinvestment scenarios, the impact of changes to interest rates for less than, or more than 50 basis points is unlikely to be linear. Furthermore, our sensitivities are not consistent across all regions in which we operate, and the impact of yield curve changes will vary depending upon the geography where the change occurs. Reinvestment assumptions used in the valuation of policy liabilities tend to amplify the negative effects of a decrease in interest rates, and dampen the positive effects of interest rate increases. This is because the reinvestment assumptions used in the valuation of our insurance liabilities are based on interest rate scenarios and calibration criteria set by the Actuarial Standards Board, while our interest rate hedges are valued using current market interest rates. Therefore, in any particular quarter, changes to the reinvestment assumptions are not fully aligned to changes in current market interest rates especially when there is a significant change in the shape of the interest rate curve. As a result, the impact from non-parallel movements may be materially different from the estimated impact of parallel movements. For example, if long-term interest rates increase more than short-term interest rates (sometimes referred to as a steepening of the yield curve) in North America, the decrease in the value of our swaps may be greater than the decrease in the value of our insurance liabilities. This could result in a charge to net income attributed to shareholders in the short-term even though the rising and steepening, if sustained, may have a positive long-term economic impact. The potential impact on net income attributed to shareholders does not take into account any future potential changes to our URR assumptions or calibration criteria for stochastic risk-free rates or other potential impacts of lower interest rate levels, for example, increased strain on the sale of new business or lower interest earned on our surplus assets. The impact also does not reflect any unrealized gains or losses on AFS fixed income assets held in our surplus segment. Changes in the market value of these assets may provide a natural economic offset to the interest rate risk arising from our product liabilities. In order for there to also be an accounting offset, the Company would need to realize a portion of the AFS fixed income asset unrealized gains or losses. It is not certain we would crystallize any of the unrealized gains or losses available. As at December 31, 2017, the AFS fixed income assets held in the surplus segment were in a net after-tax unrealized loss position of $223 million. The impact does not reflect any potential effect of changing interest rates to the value of our ALDA assets. Rising interest rates could negatively impact the value of our ALDA assets (see “Critical Accounting and Actuarial Policies – Fair Value of Invested Assets”, below). More information on ALDA can be found under the section “Alternative Long-Duration Asset Performance Risk Sensitivities and Exposure Measures”, below. The following table shows the potential impact on net income attributed to shareholders including the change in the market value of AFS fixed income assets held in our surplus segment, which could be realized through the sale of these assets. Potential impact on net income attributed to shareholders and MLI’s MCCSR ratio of an immediate parallel change in interest rates relative to rates assumed in the valuation of policy liabilities (1),(2),(3),(4),(5) 2017 2016 As at December 31, -50bp +50bp -50bp +50bp Net income attributed to shareholders ($ millions) Excluding change in market value of AFS fixed income assets held in the surplus segment $ (200 ) $ 100 $ – $ – From fair value changes in AFS fixed income assets held in surplus, if realized 1,100 (1,000) 1,000 (900) MLI’s MCCSR ratio (Percentage points) Before impact of change in market value of AFS fixed income assets held in the surplus segment (6) (7 ) 5 (6 ) 5 From fair value changes in AFS fixed income assets held in surplus, if realized 4 (5 ) 1 (4) (1) See “Caution Related to Sensitivities” above. In addition, estimates exclude changes to the net actuarial gains/losses with respect to the Company’s pension obligations as a result of changes in interest rates, as the impact on the quoted sensitivities is not considered to be material. (2) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018 and the decision to change the portfolio asset mix supporting our legacy businesses over the next 12-18 months. (3) Includes guaranteed insurance and annuity products, including variable annuity contracts as well as adjustable benefit products where benefits are generally adjusted as interest rates and investment returns change, a portion of which have minimum credited rate guarantees. For adjustable benefit products subject to minimum rate guarantees, the sensitivities are based on the assumption that credited rates will be floored at the minimum. (4) The amount of gain or loss that can be realized on AFS fixed income assets held in the surplus segment will depend on the aggregate amount of unrealized gain or loss. (5) Sensitivities are based on projected asset and liability cash flows and the impact of realizing fair value changes in AFS fixed income is based on the holdings at the end of the period. (6) The impact on MLI’s MCCSR ratio includes both the impact of lower earnings on available capital as well as the increase in required capital that results from a decline in interest rates. The $200 million increase in sensitivity to a 50 basis point decline in interest rates from December 31, 2016 was primarily due to normal rebalancing as part of our interest risk hedging program and our decision to reduce the allocation to ALDA in the portfolio asset mix supporting our North American legacy businesses over the next 12-18 months. Since the decision to change the portfolio asset mix supporting our legacy businesses requires us to complete multiple asset dispositions over the next 12-18 months, we are exposed to the rates at which the proceeds from these dispositions can be reinvested. The following tables show the potential impact on net income attributed to shareholders resulting from a change in corporate spreads and swap spreads over government bond rates for all maturities across all markets with a floor of zero on the total interest rate, relative to the spreads assumed in the valuation of policy liabilities. Potential impact on net income attributed to shareholders arising from changes to corporate spreads and swap spreads (1),(2),(3),(4) As at December 31, 2017 2016 Corporate spreads (5),(6) Increase 50 basis points $ 1,000 $ 700 Decrease 50 basis points (1,000 ) (800 ) Swap spreads Increase 20 basis points $ (400 ) $ (500 ) Decrease 20 basis points 400 500 (1) See “Caution Related to Sensitivities” above. (2) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018 and the decision to change the portfolio asset mix of our North American legacy businesses over the next 12-18 months. (3) The impact on net income attributed to shareholders assumes no gains or losses are realized on our AFS fixed income assets held in the surplus segment and excludes the impact of changes in segregated fund bond values due to changes in credit spreads. The participating policy funds are largely self-supporting and generate no material impact on net income attributed to shareholders as a result of changes in corporate and swap spreads. (4) Sensitivities are based on projected asset and liability cash flows. (5) Corporate spreads are assumed to grade to the long-term average over five years. (6) As the sensitivity to a 50 basis point decline in corporate spreads includes the impact of a change in deterministic reinvestment scenarios where applicable, the impact of changes to corporate spreads for less than, or more than, the amounts indicated are unlikely to be linear. The $200 million increase in sensitivity to a 50 basis point decline in corporate spreads from December 31, 2016 was primarily due to our decision to reduce the allocation to ALDA in the portfolio asset mix supporting our North American legacy businesses over the next 12-18 months and the lower U.S. corporate tax rates effective January 1, 2018. Since the decision to change the portfolio asset mix supporting our legacy businesses requires us to complete multiple asset dispositions over the next 12-18 months, we are exposed to the rates at which the proceeds from these dispositions can be reinvested. Swap spreads remain at low levels, and if they were to rise, this could generate material charges to net income attributed to shareholders.
Alternative Long-Duration Asset Performance Risk Sensitivities and Exposure Measures	Alternative Long-Duration Asset Performance Risk Sensitivities and Exposure Measures The following table shows the potential impact on net income attributed to shareholders resulting from an immediate 10% change in market values of ALDA followed by a return to the expected level of growth assumed in the valuation of policy liabilities. If market values were to remain flat for an entire year, the potential impact would be roughly equivalent to an immediate decline in market values equal to the expected level of annual growth assumed in the valuation of policy liabilities. Further, if after market values dropped 10% they continued to decline, remained flat, or grew more slowly than assumed in the valuation of policy liabilities, the potential impact on net income attributed to shareholders could be considerably more than shown. Refer to “Sensitivity of Earnings to Changes in Assumptions” below, for more information on the level of growth assumed and on the net income sensitivity to changes in these long-term assumptions. ALDA includes commercial real estate, timber and farmland real estate, oil and gas direct holdings, and private equities, some of which relate to oil and gas.
Liquidity Risk Management Strategy	Liquidity Risk Liquidity risk is the risk of not having access to sufficient funds or liquid assets to meet both expected and unexpected cash and collateral demands. Liquidity Risk Management Strategy Global liquidity management policies and procedures are designed to provide adequate liquidity to cover cash and collateral obligations as they come due, and to sustain and grow operations in both normal and stressed conditions. They reflect legal, regulatory, tax, operational or economic impediments to inter-entity funding. The asset mix of our balance sheet takes into account the need to hold adequate unencumbered and appropriate liquid assets to satisfy the requirements arising under stressed scenarios and to allow our liquidity ratios to remain strong. We manage liquidity centrally and closely monitor the liquidity positions of our principal subsidiaries. We seek to mitigate liquidity risk by diversifying our business across different products, markets, geographical regions and policyholders. We design insurance products to encourage policyholders to maintain their policies in-force, to help generate a diversified and stable flow of recurring premium income. We design the policyholder termination features of our wealth management products and related investment strategies with the goal of mitigating the financial exposure and liquidity risk related to unexpected policyholder terminations. We establish and implement investment strategies intended to match the term profile of the assets to the liabilities they support, taking into account the potential for unexpected policyholder terminations and resulting liquidity needs. Liquid assets represent a large portion of our total assets. We aim to reduce liquidity risk in our deposit funded businesses by diversifying our funding sources and appropriately managing the term structure of our funding. We forecast and monitor daily operating liquidity and cash movements in various individual entities and operations as well as centrally, aiming to ensure liquidity is available and cash is employed optimally. We also maintain centralized cash pools and access to other sources of liquidity and contingent liquidity such as repurchase funding agreements. Our centralized cash pool consists of cash or near-cash, high quality short-term investments that are continually monitored for their credit quality and market liquidity. We have established a variety of contingent funding sources. We maintain a $500 million committed unsecured revolving credit facility with certain Canadian chartered banks available for MFC, and a US$500 million committed unsecured revolving credit facility with certain U.S. banks available for MFC and certain of its subsidiaries. There were no outstanding borrowings under these credit facilities as of December 31, 2017. In addition, JHUSA is a member of the Federal Home Loan Bank of Indianapolis (“FHLBI”), which enables the Company to obtain loans from FHLBI as an alternative source of liquidity that is collateralized by qualifying mortgage loans, mortgage-backed securities and U.S. Treasury and Agency securities. Based on regulatory limitations, as of December 31, 2017, JHUSA had an estimated maximum borrowing capacity of US$4.3 billion under the FHLBI facility, with no amounts outstanding. The following table outlines the maturity of the Company’s significant financial liabilities. Maturity of financial liabilities (1) As at December 31, 2017 ($ millions) Less than 1 to 3 years 3 to 5 years Over Total Long-term debt $ 401 $ 626 $ – $ 3,758 $ 4,785 Capital instruments – – – 8,387 8,387 Derivatives 224 149 168 7,281 7,822 Deposits from Bank clients (2) 15,322 1,373 1,436 – 18,131 Lease obligations 126 172 89 451 838 (1) The amounts shown above are net of the related unamortized deferred issue costs. (2) Carrying value and fair value of deposits from Bank clients as at December 31, 2017 was $18,131 million and $18,149 million, respectively (2016 – $17,919 million and $17,978 million, respectively). Fair value is determined by discounting contractual cash flows, using market interest rates currently offered for deposits with similar terms and conditions. All deposits from Bank clients were categorized in Level 2 of the fair value hierarchy (2016 – Level 2). Through the normal course of business, pledging of assets is required to comply with jurisdictional regulatory and other requirements including collateral pledged to partially mitigate derivative counterparty credit risk, assets pledged to exchanges as initial margin and assets held as collateral for repurchase funding agreements. Total unencumbered assets were $396.8 billion as at December 31, 2017 (2016 – $396.3 billion). Liquidity Risk Exposure Measures We manage liquidity levels of the consolidated group and key subsidiaries against established thresholds. We measure liquidity under both immediate (within one month) and ongoing (within one year) stress scenarios. Our policy is to maintain the ratio of assets to liabilities, both adjusted for their liquidity values, above the pre-established limit. Increased use of derivatives for hedging purposes has necessitated greater emphasis on measurement and management of contingent liquidity risk related to these instruments. The market value of our derivative portfolio is therefore regularly stress tested to assess the potential collateral and cash settlement requirements under various market conditions. Manulife Bank (the “Bank”) has a stand-alone liquidity risk management policy framework. The framework includes stress testing, cash flow modeling, a funding plan and a contingency plan. The Bank has an established securitization infrastructure which enables the Bank to access a range of funding and liquidity sources. The Bank models extreme but plausible stress scenarios that demonstrate that the Bank has a sufficient pool of highly liquid money market securities and holdings of sovereign bonds, near-sovereign bonds and other liquid marketable securities, which when combined with the Bank’s capacity to securitize residential mortgage assets provides sufficient liquidity to meet potential requirements under these stress scenarios.
Reporting entity	(a) Reporting entity Manulife Financial Corporation (“MFC”) is a publicly traded company and the holding company of The Manufacturers Life Insurance Company (“MLI”), a Canadian life insurance company. MFC and its subsidiaries (collectively, “Manulife” or the “Company”) is a leading financial services group with principal operations in Asia, Canada and the United States. Manulife’s international network of employees, agents and distribution partners offers financial protection and wealth management products and services to personal and business clients as well as asset management services to institutional customers. The Company operates as Manulife in Canada and Asia and as John Hancock in the United States. MFC is domiciled in Canada and incorporated under the Insurance Companies Act (Canada) (“ICA”). These Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These Consolidated Financial Statements should be read in conjunction with “Risk Management” in the 2017 Management’s Discussion and Analysis (“MD&A”) dealing with IFRS 7 “Financial Instruments: Disclosures” as the discussion on market risk and liquidity risk includes certain disclosures that are considered an integral part of these Consolidated Financial Statements. These Consolidated Financial Statements as at and for the year ended December 31, 2017 were authorized for issue by MFC’s Board of Directors on February 7, 2018.
Basis of preparation	(b) Basis of preparation The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities as at the date of the Consolidated Financial Statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results may differ from these estimates. The most significant estimation processes relate to assumptions used in measuring insurance and investment contract liabilities, assessing assets for impairment, determining of pension and other post-employment benefit obligation and expense assumptions, determining income taxes and uncertain tax positions and fair valuation of certain invested assets. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the year in which the estimates are revised and in any future years affected. Although some variability is inherent in these estimates, management believes that the amounts recorded are appropriate. The significant accounting policies used and the most significant judgments made by management in applying these accounting policies in the preparation of these Consolidated Financial Statements are summarized below.
Fair value measurement	(c) Fair value measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction (not a forced liquidation or distress sale) between market participants at the measurement date, that is, an exit value. When available, quoted market prices are used to determine fair value. If quoted market prices are not available, fair value is typically based upon alternative valuation techniques such as discounted cash flows, matrix pricing, consensus pricing services and other techniques. Broker quotes are generally used when external public vendor prices are not available. The Company has a process in place that includes a review of price movements relative to the market, a comparison of prices between vendors, and a comparison to internal matrix pricing which uses predominately external observable data. Judgment is applied in adjusting external observable data for items including liquidity and credit factors. The Company categorizes its fair value measurements according to a three-level hierarchy. The hierarchy prioritizes the inputs used by the Company’s valuation techniques. A level is assigned to each fair value measurement based on the lowest level input significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are defined as follows: Level 1 – Fair value measurements that reflect unadjusted, quoted prices in active markets for identical assets and liabilities that the Company has the ability to access at the measurement date reflecting market transactions. Level 2 – Fair value measurements using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in inactive markets, inputs that are observable that are not prices (such as interest rates, credit risks, etc.) and inputs that are derived from or corroborated by observable market data. Most debt securities are classified within Level 2. Also, included in the Level 2 category are derivative instruments that are priced using models with observable market inputs, including interest rate swaps, equity swaps, and foreign currency forward contracts. Level 3 – Fair value measurements using significant non-market long-duration
Basis of consolidation	(d) Basis of consolidation MFC consolidates the financial statements of all entities, including certain structured entities that it controls. Subsidiaries are entities controlled by the Company. The Company has control over an entity when the Company has the power to govern the financial and operating policies of the entity, is exposed to variable returns from its activities which are significant in relation to the total variable returns of the entity and the Company is able to use its power over the entity to affect its share of variable returns. In assessing control, significant judgment is applied while considering all relevant facts and circumstances. When assessing decision-making power, the Company considers the extent of its rights relative to the management of an entity, the level of voting rights held in an entity which are potentially or presently exercisable, the existence of any contractual management agreements which may provide the Company with power over an entity’s financial and operating policies and to the extent of other parties’ ownership in an entity, if any, the possibility for de facto control being present. When assessing returns, the Company considers the significance of direct and indirect financial and non-financial The financial statements of subsidiaries are included in the MFC’s consolidated results from the date control is established and are excluded from consolidation from the date control ceases. The initial control assessment is performed at inception of the Company’s involvement with the entity and is reconsidered at a later date if the Company acquires or loses power over key operating and financial policies of the entity; acquires additional interests or disposes of interests in the entity; the contractual arrangements of the entity are amended such that the Company’s proportionate exposure to variable returns changes; or if the Company’s ability to use its power to affect its variable returns from the entity changes. The Company’s Consolidated Financial Statements have been prepared using uniform accounting policies for like transactions and events in similar circumstances. Intercompany balances, and income and expenses arising from intercompany transactions, have been eliminated in preparing the Consolidated Financial Statements. Non-controlling Non-controlling non-controlling The equity method of accounting is used to account for entities over which the Company has significant influence (“associates”), whereby the Company records its share of the associate’s net assets and financial results using uniform accounting policies for similar transactions and events. Significant judgment is used to determine whether voting rights, contractual management and other relationships with the entity, if any, provide the Company with significant influence over the entity. Gains and losses on the sale of associates are included in income when realized, while impairment losses are recognized immediately when there is objective evidence of impairment. Gains and losses on commercial transactions with associates are eliminated to the extent of the Company’s interest in the associate. Investments in associates are included in other invested assets on the Company’s Consolidated Statements of Financial Position.
Invested assets	(e) Invested assets Invested assets that are considered financial instruments are classified as fair value through profit or loss (“FVTPL”), loans and receivables, or as available-for-sale non-derivative Valuation methods for the Company’s invested assets are described above. All fair value valuations are performed in accordance with IFRS 13 “Fair Value Measurement”. Disclosure of financial instruments carried at fair value with the three levels of the fair value hierarchy and the disclosure of the fair value for financial instruments not carried at fair value on the Consolidated Statements of Financial Position are presented in note 4. Fair value valuations are performed by the Company and by third-party service providers. When third-party service providers are engaged, the Company performs a variety of procedures to corroborate pricing information. These procedures may include, but are not limited to, inquiry and review of valuation techniques, inputs to the valuation and vendor controls reports. Cash and short-term securities comprise cash, current operating accounts, overnight bank and term deposits, and fixed income securities held for the purpose of meeting short-term cash commitments. Short-term securities are carried at fair value. Short-term securities are comprised of investments due to mature within one year of the date of purchase. Commercial paper and discount notes are classified as Level 2 because these securities are typically not actively traded. Net payments in transit and overdraft bank balances are included in other liabilities. Debt securities are carried at fair value. Debt securities are generally valued by independent pricing vendors using proprietary pricing models incorporating current market inputs for similar instruments with comparable terms and credit quality (matrix pricing). The significant inputs include, but are not limited to, yield curves, credit risks and spreads, measures of volatility and prepayment rates. These debt securities are classified as Level 2, but can be Level 3 if the significant inputs are market unobservable. Realized gains and losses on sale of debt securities and unrealized gains and losses on debt securities designated as FVTPL are recognized in investment income immediately. Unrealized gains and losses on AFS debt securities are recorded in OCI, with the exception of unrealized gains and losses on foreign currency translation which are included in income. Impairment losses on AFS debt securities are recognized in income on an individual security basis when there is objective evidence of impairment. Impairment is considered to have occurred, based on management’s judgment, when it is deemed probable that the Company will not be able to collect all amounts due according to the debt security’s contractual terms. Equities are comprised of common and preferred equities and are carried at fair value. Equities are generally classified as Level 1, as fair values are normally based on quoted market prices. Realized gains and losses on sale of equities and unrealized gains and losses on equities designated as FVTPL are recognized in investment income immediately. Unrealized gains and losses on AFS equities are recorded in OCI. Impairment losses on AFS equities are recognized in income on an individual security basis when there is objective evidence of impairment. Impairment is considered to have occurred when fair value has declined below cost by significant amounts or for prolonged periods of time. Judgment is applied in determining whether the decline is significant or prolonged. Mortgages are carried at amortized cost, and are classified as Level 3 for fair value purposes due to the lack of market observability of certain significant valuation inputs. Realized gains and losses are recorded in investment income immediately. Impairment losses are recorded on mortgages when there is no longer reasonable assurance as to the timely collection of the full amount of principal and interest and are measured based on the discounted value of expected future cash flows at the original effective interest rates inherent in the mortgage. Expected future cash flows of impaired mortgages are typically determined in reference to the fair value of collateral security underlying the mortgage, net of expected costs of realization and any applicable insurance recoveries. Significant judgment is applied in the determination of impairment including the timing and amount of future collections. The Company accounts for insured and uninsured mortgage securitizations as secured financing transactions since the criteria for sale accounting are not met. For these transactions, the Company continues to recognize the mortgages and records a liability in other liabilities for the amounts owed at maturity. Interest income from these mortgages and interest expense on the borrowings are recorded using the effective interest rate method. Private placements, which include corporate loans for which there is no active market, are carried at amortized cost and are generally classified as Level 2 for fair value disclosure purposes, but can be classified as Level 3 if significant inputs are market unobservable. Realized gains and losses are recorded in income immediately. Impairment losses are recorded on private placements when there is no longer assurance as to the timely collection of the full amount of principal and interest. Impairment is measured based on the discounted value of expected future cash flows at the original effective interest rate inherent in the loan. Significant judgment is applied in the determination of impairment including the timing and amount of future collections. Policy loans are carried at an amount equal to their unpaid balances and are classified as Level 2 for fair value disclosure purposes. Policy loans are fully collateralized by the cash surrender value of the underlying policies. Loans to Manulife Bank of Canada (“Manulife Bank” or “Bank”) clients are carried at unpaid principal balances less allowance for credit losses, if any, and are classified as Level 2 for fair value disclosure purposes. A loan to a Bank client is considered impaired when there is objective evidence of impairment as a result of one or more loss events that have occurred after initial recognition, with a negative impact on the estimated future cash flows of the loan. Once established, allowances for impairment of mortgages, private placements and loans to Bank clients are reversed only if the conditions that caused the impairment no longer exist. Reversals of impairment charges on AFS debt securities are only recognized in income to the extent that increases in fair value can be attributed to events subsequent to the impairment loss being recorded. Impairment losses for AFS equity instruments are not reversed through income. On disposition of an impaired asset, any allowance for impairment is released. In addition to impairments and provisions for loan losses (recoveries) reported in investment income, the measurement of insurance contract liabilities via investment return assumptions, includes expected future credit losses on fixed income investments. Refer to note 8(d). Interest income is recognized on debt securities, mortgages, private placements, policy loans and loans to Bank clients as it accrues and is calculated using the effective interest rate method. Premiums, discounts and transaction costs are amortized over the life of the underlying investment using the effective yield method for all debt securities as well as mortgages and private placements measured at amortized cost. The Company records purchases and sales of invested assets on a trade date basis, except for loans originated by the Company, which are recognized on a settlement date basis. Real estate consists of both own use and investment property. Own use property is carried at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated based on the cost of an asset less its residual value and is recognized in income on a straight-line basis over the estimated useful life ranging from 30 to 60 years. Impairment losses are recorded in income to the extent the recoverable amount is less than the carrying amount. Where own use property is included in assets backing insurance contract liabilities, the fair value of the property is used in the valuation of insurance contract liabilities. Own use property is classified as Level 3 for fair value disclosure purposes. An investment property is a property held to earn rental income, for capital appreciation, or both. Investment properties are measured at fair value, with changes in fair value recognized in income. Fair value is determined using external appraisals that are based on the highest and best use of the property. The valuation techniques used include discounted cash flows, the direct capitalization method as well as comparable sales analysis and include both observable and unobservable inputs. Inputs include existing and assumed tenancies, market data from recent comparable transactions, future economic outlook and market risk assumptions, capitalization rates and internal rates of return. Investment properties are classified as Level 3 for fair value disclosure purposes. When a property changes from own use to investment property, any gain arising on the remeasurement of the property to fair value at the date of transfer is recognized in OCI, to the extent that it is not reversing a previous impairment loss. Reversals of impairment losses are recognized in income. Other invested assets include private equity and property investments held in power and infrastructure and timber, as well as in agriculture and oil and gas sectors. Private equity investments are accounted for as associates using the equity method (as described in note 1(d) above) or are classified as FVTPL or AFS and carried at fair value. Investments in oil and gas exploration and evaluation activities are measured on the cost basis using the “successful efforts” method. Timber and agriculture properties are measured at fair value with changes in fair value recognized in income, with the exception of buildings, equipment and bearer plants which are measured at amortized cost. The fair value of other invested assets is determined using a variety of valuation techniques as described in note 4. Other invested assets that are measured or disclosed at fair value are classified as Level 3. Other invested assets also include investments in leveraged leases, which are accounted for using the equity method. The carrying value under the equity method reflects the amortized cost of the lease receivable and related non-recourse
Goodwill and intangible assets	(f) Goodwill and intangible assets Goodwill represents the difference between the purchase consideration of an acquired business and the Company’s proportionate share of the net identifiable assets acquired. It is initially recorded at cost and subsequently measured at cost less any accumulated impairment. Goodwill is tested for impairment at least annually and whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable at the cash generating unit (“CGU”) or group of CGUs level. The Company allocates goodwill to CGUs or groups of CGUs for the purpose of impairment testing based on the lowest level within the entity in which the goodwill is monitored for internal management purposes. The allocation is made to those CGUs or groups of CGUs that are expected to benefit from the business combination in which the goodwill arose. Any potential impairment of goodwill is identified by comparing the recoverable amount of a CGU or group of CGUs to its carrying value. Goodwill is reduced by the amount of deficiency, if any. If the deficiency exceeds the carrying amount of goodwill, the carrying values of the remaining assets in the CGU or group of CGUs are subject to being reduced by the excess on a pro-rata The recoverable amount of a CGU is the higher of the estimated fair value less costs to sell or the value-in-use value-in-use, pre-tax Intangible assets with indefinite useful lives include the John Hancock brand name and certain investment management contracts. The indefinite useful life assessment for brand is based on the brand name being protected in markets where branded products are sold by trademarks, which are renewable indefinitely, and for certain investment management contracts due to the ability to renew these contracts indefinitely. In addition, there are no legal, regulatory or contractual provisions that limit the useful lives of these intangible assets. An intangible asset with an indefinite useful life is not amortized but is subject to an annual impairment test which is performed more frequently if there is an indication that it is not recoverable. Intangible assets with finite useful lives include acquired distribution networks, customer relationships, capitalized software, certain investment management contracts and other contractual rights. Distribution networks, customer relationships, and other finite life intangible assets are amortized over their estimated useful lives, six to 68 years, either based on straight-line or in relation to other asset consumption metrics. Software intangible assets are amortized on a straight-line basis over their estimated useful lives of three to five years. Finite life intangible assets are assessed for indicators of impairment at each reporting period. If any indication of impairment exists, these assets are subject to an impairment test.
Miscellaneous assets	(g) Miscellaneous assets Miscellaneous assets include assets held in a rabbi trust with respect to unfunded defined benefit obligations, defined benefit assets, if any (refer to note 1(o)), deferred acquisition costs and capital assets. Deferred acquisition costs are carried at cost less accumulated amortization. These costs are recognized over the period where redemption fees may be charged or over the period revenue is earned. Capital assets are carried at cost less accumulated amortization computed on a straight-line basis over their estimated useful lives, which vary from two to 10 years.
Segregated funds	(h) Segregated funds The Company manages a number of segregated funds on behalf of policyholders. The investment returns on these funds are passed directly to policyholders. In some cases, the Company has provided guarantees associated with these funds. Segregated funds net assets are measured at fair value and primarily include investments in mutual funds, debt securities, equities, real estate, short-term investments and cash and cash equivalents. With respect to the consolidation requirement of IFRS, in assessing the Company’s degree of control over the underlying investments, the Company considers the scope of its decision-making rights, the rights held by other parties, its remuneration as an investment manager and its exposure to variability of returns. The Company has determined that it does not have control over the underlying investments as it acts as an agent on behalf of segregated fund policyholders. The methodology applied to determine the fair value of investments held in segregated funds is consistent with that applied to invested assets held by the general fund, as described above in note 1(e). Segregated funds liabilities are measured based on the value of the segregated funds net assets. Investment returns on segregated funds assets belong to policyholders and the Company does not bear the risk associated with these assets outside of guarantees offered on certain variable life and annuity products, for which the underlying investments are held within segregated funds. Accordingly, investment income earned by segregated funds and expenses incurred by segregated funds are offset and are not separately presented in the Consolidated Statements of Income. Fee income earned by the Company for managing the segregated funds is included in other revenue. Refer to note 22. Liabilities related to guarantees associated with certain segregated funds, as a result of certain variable life and annuity contracts, are recorded within the Company’s insurance contract liabilities. The Company holds assets supporting these guarantees which are recognized in invested assets according to their investment type.
Insurance and investment contract liabilities	(i) Insurance and investment contract liabilities Most contracts issued by the Company are considered insurance, investment or service contracts. Contracts under which the Company accepts significant insurance risk from a policyholder are classified as insurance contracts in the Consolidated Financial Statements. A contract is considered to have significant insurance risk if, and only if, an insured event could cause an insurer to make significant additional payments in any scenario, excluding scenarios that lack commercial substance at the inception of the contract. Contracts under which the Company does not accept significant insurance risk are either classified as investment contracts or considered service contracts and are accounted for in accordance with IAS 39 “ ” Once a contract has been classified as an insurance contract it remains an insurance contract even if the insurance risk reduces significantly. Investment contracts can be reclassified as insurance contracts if insurance risk subsequently becomes significant. Insurance contract liabilities, net of reinsurance assets, represent the amount which, together with estimated future premiums and net investment income, will be sufficient to pay estimated future benefits, policyholder dividends and refunds, taxes (other than income taxes) and expenses on policies in-force. Investment contract liabilities include contracts issued to retail and institutional investors that do not contain significant insurance risk. Investment contract liabilities and deposits are measured at amortized cost or at fair value by election. The election reduces accounting mismatches between assets supporting these contracts and the related policy liabilities. Investment contract liabilities are derecognized when the contract expires, is discharged or is cancelled. Derivatives embedded within insurance contracts are separated if they are not considered to be closely related to the host insurance contract and do not meet the definition of an insurance contract. These embedded derivatives are presented separately in other assets or other liabilities and are measured at fair value with changes in fair value recognized in income.
Reinsurance assets	(j) Reinsurance assets The Company uses reinsurance in the normal course of business to manage its risk exposure. Insurance ceded to a reinsurer does not relieve the Company from its obligations to policyholders. The Company remains liable to its policyholders for the portion reinsured to the extent that any reinsurer does not meet its obligations for reinsurance ceded to it under a reinsurance agreement. Reinsurance assets represent the benefit derived from reinsurance agreements in-force Gains or losses on reinsurance transactions are recognized in income immediately on the transaction date and are not amortized. Premiums ceded and claims reimbursed are presented on a gross basis on the Consolidated Statements of Income. Reinsurance assets are not offset against the related insurance contract liabilities and are presented separately on the Consolidated Statements of Financial Position. Refer to note 8(a).
Other financial instruments accounted for as liabilities	(k) Other financial instruments accounted for as liabilities The Company issues a variety of other financial instruments classified as liabilities, including notes payable, term notes, senior notes, senior debentures, subordinated notes, surplus notes, subscription receipts and preferred shares. These financial liabilities are measured at amortized cost, with issuance costs deferred and amortized using the effective interest rate method.
Income taxes	(l) Income taxes The provision for income taxes is calculated based on income tax laws and income tax rates substantively enacted as at the date of the Consolidated Statements of Financial Position. The income tax provision is comprised of current income taxes and deferred income taxes. Current and deferred income taxes relating to items recognized in OCI and directly in equity are similarly recognized in OCI and directly in equity, respectively. Current income taxes are amounts expected to be payable or recoverable as a result of operations in the current year and any adjustments to taxes payable in respect of previous years. Deferred income taxes are provided for using the liability method and result from temporary differences between the carrying values of assets and liabilities and their respective tax bases. Deferred income taxes are measured at the substantively enacted tax rates that are expected to be applied to temporary differences when they reverse. A deferred tax asset is recognized to the extent that future realization of the tax benefit is probable. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the tax benefit will be realized. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets and they relate to income taxes levied by the same tax authority on the same taxable entity. Deferred tax liabilities are recognized for all taxable temporary differences, except in respect of taxable temporary differences associated with investments in subsidiaries and associates, where the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. The Company records provisions for uncertain tax positions if it is probable that the Company will make a payment on tax positions as a result of examinations by tax authorities. These provisions are measured at the Company’s best estimate of the amount expected to be paid. Provisions are reversed to income in the period in which management assesses they are no longer required or determined by statute. The Company is subject to income tax laws in various jurisdictions. Tax laws are complex and potentially subject to different interpretations by the taxpayer and the relevant tax authority. The provision for income taxes and deferred income taxes represents management’s interpretation of the relevant tax laws and its estimate of current and future income tax implications of the transactions and events during the year. The Company may be required to change its provision for income taxes or deferred income tax balances when the ultimate deductibility of certain items is successfully challenged by taxing authorities, or if estimates used in determining the amount of deferred tax asset to recognize change significantly, or when receipt of new information indicates the need for adjustment in the amount of deferred income taxes to be recognized. Additionally, future events, such as changes in tax laws, tax regulations, or interpretations of such laws or regulations, could have an impact on the provision for income taxes, deferred tax balances and the effective tax rate. Any such changes could materially affect the amounts reported in the Consolidated Financial Statements in the period these changes occur.
Foreign currency translation	(m) Foreign currency translation Items included in the financial statements of each of the Company’s subsidiaries are measured by each subsidiary using the currency of the primary economic environment in which the entity operates (the “functional currency”). Transactions in a foreign currency are translated to the functional currency at the exchange rate prevailing at the date of the transaction. Assets and liabilities denominated in foreign currencies are translated to the functional currency at the exchange rate in effect at the reporting date. Revenue and expenses denominated in foreign currencies are translated at the average exchange rate prevailing during the quarter reported. Exchange gains and losses are recognized in income with the exception of translation of net investments in foreign operations and the results of hedging these positions. These foreign exchange gains and losses are recognized in OCI until such time that the foreign operation is disposed of or control or significant influence over it is lost.
Stock-based compensation	(n) Stock-based compensation The Company provides stock-based compensation to certain employees and directors as described in note 15. Compensation expense of equity instruments is accrued based on the best estimate of the number of instruments expected to vest, with revisions made to that estimate if subsequent information indicates that actual forfeitures are likely to differ from initial estimates, unless forfeitures are due to market-based conditions. Stock options are expensed with a corresponding increase in contributed surplus. Restricted share units and deferred share units are expensed with a corresponding liability accrued based on the market value of MFC’s common shares at the end of each quarter. Performance share units are expensed with a corresponding liability accrued based on specific performance conditions and the market value of MFC’s common shares at the end of each quarter. The change in the value of the awards resulting from changes in the market value of MFC’s common shares or changes in the specific performance conditions and credited dividends is recognized in income, offset by the impact of total return swaps used to manage the variability of the related liability. Stock-based compensation cost is recognized over the applicable vesting period, except if the employee is eligible to retire at the time of grant or will be eligible to retire during the vesting period. Compensation cost, attributable to stock options, restricted share units, and performance share units granted to employees who are eligible to retire on the grant date or who will become eligible to retire during the vesting period, is recognized at the grant date or over the period from the grant date to the date of retirement eligibility, respectively. The Company’s contributions to the Global Share Ownership Plan (“GSOP”) (refer to note 15(d)), are expensed as incurred. Under the GSOP, subject to certain conditions, the Company will match a percentage of an employee’s eligible contributions to certain maximums. All contributions are used by the plan’s trustee to purchase MFC common shares in the open market.
Employee future benefits	(o) Employee future benefits The Company maintains defined contribution and defined benefit pension plans and other post-employment plans for employees and agents including registered (tax qualified) pension plans that are typically funded as well as supplemental non-registered (non-qualified) The Company’s obligation in respect of defined benefit pension and other post-employment benefits is calculated for each plan as the estimated present value of future benefits that eligible employees have earned in return for their service up to the reporting date using the projected benefit method. The discount rate used is based on the yield, as at the reporting date, of high quality corporate debt securities that have approximately the same term as the obligations and that are denominated in the same currency in which the benefits are expected to be paid. To determine the Company’s net defined benefit asset or liability, the fair value of plan assets is deducted from the defined benefit obligations. When this calculation results in a surplus, the asset that can be recognized is limited to the present value of future economic benefit available in the form of future refunds from the plan or reductions in future contributions to the plan (the asset limit). Defined benefit assets are included in other assets and defined benefit liabilities are included in other liabilities. Changes in the net defined benefit asset or liability due to re-measurement re-measurement The cost of defined benefit pension plans is recognized over the employee’s years of service to retirement while the cost of retiree welfare plans is recognized over the employee’s years of service to their date of full eligibility. The net benefit cost for the year is recorded in income and is calculated as the sum of the service cost in respect of the fiscal year, the net interest income or expense and any applicable administration expenses, plus past service costs or credits resulting from plan amendments or curtailments. The net interest income or expense is determined by applying the discount rate to the net defined benefit asset or liability. The current year cost of disability welfare plans is the year-over-year change in the defined benefit obligation, including any actuarial gains or losses. The cost of defined contribution plans is the contribution provided by the Company and is recorded in income in the periods during which services are rendered by employees.
Derivative and hedging instruments	(p) Derivative and hedging instruments The Company uses derivative financial instruments (“derivatives”) including swaps, forward and futures agreements, and options to manage current and anticipated exposures to changes in interest rates, foreign exchange rates, commodity prices and equity market prices, and to replicate permissible investments. Derivatives embedded in other financial instruments (“host instruments”) are separately recorded as derivatives when their economic characteristics and risks are not closely related to those of the host instrument, the terms of the embedded derivative are the same as those of a standalone derivative and the host instrument itself is not recorded at FVTPL. Derivatives are recorded at fair value. Derivatives with unrealized gains are reported as derivative assets and derivatives with unrealized losses are reported as derivative liabilities. A determination is made for each derivative as to whether to apply hedge accounting. Where hedge accounting is not applied, changes in the fair value of derivatives are recorded in investment income. Refer to note 4(c). Where the Company has elected to apply hedge accounting, a hedging relationship is designated and documented at inception. Hedge effectiveness is evaluated at inception and throughout the term of the hedge and hedge accounting is only applied when the Company expects that the hedging relationship will be highly effective in achieving offsetting changes in fair value or changes in cash flows attributable to the risk being hedged. The assessment of hedge effectiveness is performed at the end of each reporting period both prospectively and retrospectively. When it is determined that a hedging relationship is no longer effective, or the hedging instrument or the hedged item has been sold or terminated, the Company discontinues hedge accounting prospectively. In such cases, if the derivatives are not sold or terminated, any subsequent changes in fair value of the derivatives are recognized in investment income. For derivatives that are designated as hedging instruments, changes in fair value are recognized according to the nature of the risks being hedged, as discussed below. In a fair value hedging relationship, changes in fair value of the hedging instruments are recorded in investment income, offsetting changes in fair value of the hedged items, which would otherwise not be carried at fair value. Hedge ineffectiveness is recognized in investment income and arises from differences between changes in the fair values of hedging instruments and hedged items. When hedge accounting is discontinued, the carrying value of the hedged item is no longer adjusted and the cumulative fair value adjustments are amortized to investment income over the remaining term of the hedged item unless the hedged item is sold, at which time the balance is recognized immediately in investment income. In a cash flow hedging relationship, the effective portion of the change in the fair value of the hedging instrument is recorded in OCI while the ineffective portion is recognized in investment income. Gains and losses in accumulated other comprehensive income (“AOCI”) are recognized in income during the same periods as the variability in the hedged cash flows or the hedged forecasted transactions are recognized in income. The reclassifications from accumulated other comprehensive income (“AOCI”) are made to investment income, with the exception of total return swaps that hedge restricted share units, which are reclassified to general expenses. Gains and losses on cash flow hedges in AOCI are reclassified immediately to investment income when the hedged item is sold or the forecasted transaction is no longer expected to occur. When a hedge is discontinued, but the hedged forecasted transaction remains highly probable to occur, the amounts in AOCI are reclassified to investment income in the periods during which variability in the cash flows hedged or the hedged forecasted transaction is recognized in income. In a net investment in foreign operations hedging relationship, the gains and losses relating to the effective portion of the hedge are recorded in OCI. Gains and losses in AOCI are recognized in income during the periods when gains or losses on the underlying hedged net investment in foreign operations are recognized in income.
Premium income and related expenses	(q) Premium income and related expenses Gross premiums for all types of insurance contracts, and contracts with limited mortality or morbidity risk, are generally recognized as revenue when due. Premiums are reported gross of reinsurance ceded (refer to note 8). Revenue on service contracts is recognized as services are rendered.
Changes in accounting policy	(a) Changes in accounting policy (I) Annual improvements to IFRS Standards 2014 – 2016 Cycle Effective January 1, 2017, the Company adopted certain amendments issued within the Annual Improvements to IFRS Standards 2014-2016 Cycle, as issued by the IASB in December 2016. There are various minor amendments which are effective in 2017, with other amendments being effective January 1, 2018. The currently effective amendments were applied retrospectively. Adoption of these amendments did not have a significant impact on the Company’s Consolidated Financial Statements. (II) Amendments to IAS 12 “Income Taxes” Effective January 1, 2017, the Company adopted the amendments issued in January 2016 to IAS 12 “Income Taxes”. These amendments were applied retrospectively. The amendments clarify recognition of deferred tax assets relating to unrealized losses on debt instruments measured at fair value. A deductible temporary difference arises when the carrying amount of the debt instrument measured at fair value is less than the cost for tax purposes, irrespective of whether the debt instrument is held for sale or held to maturity. The recognition of the deferred tax asset that arises from this deductible temporary difference is considered in combination with other deferred taxes applying local tax law restrictions where applicable. In addition, when estimating future taxable profits, consideration can be given to recovering more than the asset’s carrying amount where probable. Adoption of these amendments did not have a significant impact on the Company’s Consolidated Financial Statements. (III) Amendments to IAS 7 “Statement of Cash Flows” Effective January 1, 2017, the Company adopted the amendments issued in January 2016 to IAS 7 “Statement of Cash Flows”. These amendments were applied prospectively. These amendments require companies to provide information about changes in their financing liabilities. Adoption of these amendments did not have a significant impact on the Company’s Consolidated Financial Statements.
Future accounting and reporting changes	(b) Future accounting and reporting changes (I) IFRS 15 “Revenue from Contracts with Customers” IFRS 15 “Revenue from Contracts with Customers” was issued in May 2014, and replaces IAS 11 “Construction Contracts” IAS 18 “Revenue” and several interpretations. Amendments to IFRS 15 were issued in April 2016. IFRS 15 as amended is effective for annual periods beginning on or after January 1, 2018. The Company will adopt IFRS 15 effective January 1, 2018, using the modified retrospective method with no restatement of comparative information. IFRS 15 clarifies revenue recognition principles, provides a robust framework for recognizing revenue and cash flows arising from contracts with customers and enhances qualitative and quantitative disclosure requirements. IFRS 15 does not apply to insurance contracts, financial instruments and lease contracts. The Company’s service arrangements are generally satisfied over time, with revenue measured and collected from customers within a short term, as services are rendered. Adoption of IFRS 15 is not expected to have a significant impact on the Company’s Consolidated Financial Statements. (II) IFRS Interpretation Committee (“IFRIC”) Interpretation 22 “Foreign Currency Transactions and Advance Consideration” IFRIC 22 “Foreign Currency Transactions and Advance Consideration” was issued in December 2016 and is effective for annual periods beginning on or after January 1, 2018 and may be applied retrospectively or prospectively. IFRIC 22 addresses which foreign exchange rate to use to measure a foreign currency transaction when advance payments are made or received and non-monetary non-monetary (III) Amendments to IFRS 2 “Share-Based Payment” Amendments to IFRS 2 “Share-Based Payment” were issued in June 2016 and are effective for annual periods beginning on or after January 1, 2018, to be applied prospectively. The amendments clarify the effects of vesting and non-vesting (IV) IFRS 9 “Financial Instruments” IFRS 9 “Financial Instruments” was issued in November 2009 and amended in October 2010, November 2013 and July 2014, and is effective for years beginning on or after January 1, 2018, to be applied retrospectively, or on a modified retrospective basis. Additionally, the IASB issued amendments in October 2017 that are effective for annual periods beginning on or after January 1, 2019. The standard is intended to replace IAS 39 “Financial Instruments: Recognition and Measurement”. The project has been divided into three phases: classification and measurement, impairment of financial assets, and hedge accounting. IFRS 9’s current classification and measurement methodology provides that financial assets are measured at either amortized cost or fair value on the basis of the entity’s business model for managing the financial assets and the contractual cash flow characteristics of the financial assets. The classification and measurement for financial liabilities remains generally unchanged; however, for a financial liability designated as at fair value through profit or loss, revisions have been made in the accounting for changes in fair value attributable to changes in the credit risk of that liability. Gains or losses caused by changes in an entity’s own credit risk on such liabilities are no longer recognized in profit or loss but instead are reflected in OCI. Revisions to hedge accounting were issued in November 2013 as part of the overall IFRS 9 project. The amendment introduces a new hedge accounting model, together with corresponding disclosures about risk management activities for those applying hedge accounting. The new model represents a substantial overhaul of hedge accounting that will enable entities to better reflect their risk management activities in their financial statements. Revisions issued in July 2014 replace the existing incurred loss model used for measuring the allowance for credit losses with an expected credit loss model. Changes were also made to the existing classification and measurement model designed primarily to address specific application issues raised by early adopters of the standard. The revision also addresses the income statement accounting mismatches and short-term volatility issues which have been identified as a result of the insurance contracts project. Revisions issued in October 2017 allow financial assets to be measured at amortized cost or fair value through OCI even if the lender is required to pay a reasonable compensation in the event of an early termination of the contract by the borrower (also referred to as prepayment features with negative compensation). The Company expects to defer IFRS 9 until January 1, 2021 as allowed under the amendments to IFRS 4 “Insurance Contracts” outlined below. The Company is assessing the impact of this standard. (V) Amendments to IFRS 4 “Insurance Contracts” Amendments to IFRS 4 “Insurance Contracts” were issued in September 2016, which are effective for annual periods beginning on or after January 1, 2018. The amendments introduce two approaches to address concerns about the differing effective dates of IFRS 9 “Financial Instruments” and IFRS 17 “Insurance Contracts”: the overlay approach and the deferral approach. The overlay approach provides an option for all issuers of insurance contracts to adjust profit or loss for eligible financial assets by removing any additional accounting volatility that may arise from applying IFRS 9 before IFRS 17 is implemented. The deferral approach provides companies whose activities are predominantly related to insurance an optional temporary exemption from applying IFRS 9 until January 1, 2021. The Company qualifies for the exemption and intends to defer IFRS 9 until January 1, 2021. (VI) IFRS 17 “Insurance Contracts” IFRS 17 was issued in May 2017 and is effective for years beginning on January 1, 2021, and to be applied retrospectively. If full retrospective application to a group of contracts is impractical, the modified retrospective or fair value methods may be used. The standard will replace IFRS 4 “Insurance Contracts” and will materially change the recognition and measurement of insurance contracts and the corresponding presentation and disclosures in the Company’s Financial Statements and MD&A. The Company is assessing the implications of this standard and expects that it will have a significant impact on the Company’s Consolidated Financial Statements. In addition, in certain jurisdictions, including Canada, it could have a material effect on tax and regulatory capital positions that are dependent upon IFRS accounting values. For life insurance companies, such as Manulife, that have long-duration products and/or regulatory and tax regimes dependent upon IFRS accounting values, the Company believes that an effective date of January 1, 2021 is aggressive. Therefore, while the Company’s implementation project is well underway, the Company and others in the life insurance industry are encouraging the IASB to defer the effective date. (VII) IFRS 16 “Leases” IFRS 16 “Leases” was issued in January 2016 and is effective for years beginning on or after January 1, 2019, to be applied retrospectively or on a modified retrospective basis. It will replace IAS 17 “Leases” and IFRIC 4 “Determining whether an arrangement contains a lease”. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, the customer (“lessee”) and the supplier (“lessor”). The standard brings most leases on-balance on-balance right-of-use (VIII) IFRS Interpretation Committee (“IFRIC”) Interpretation 23 “Uncertainty over Income Tax Treatments” IFRIC 23 “Uncertainty over Income Tax Treatments” was issued in June 2017 and is effective for years beginning on or after January 1, 2019, to be applied retrospectively. IFRIC 23 provides guidance on applying the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments including whether uncertain tax treatments should be considered together or separately based on which approach better predicts resolution of the uncertainty. Adoption of IFRIC 23 is not expected to have a significant impact on the Company’s Consolidated Financial Statements. (IX) Amendments to IAS 28 “Investments in Associates and Joint Ventures” Amendments to IAS 28 “Investments in Associates and Joint Ventures” were issued in October 2017 and are effective for annual periods beginning on or after January 1, 2019, to be applied retrospectively. The amendments clarify that an entity applies IFRS 9 “Financial Instruments” to financial interests in an associate or joint venture to which the equity method is not applied. IAS 39 is being applied to these interests until IFRS 9 is adopted in 2021. Adoption of these amendments is not expected to have a significant impact on the Company’s Consolidated Financial Statements. (X) Annual Improvements 2015 – 2017 Cycle Annual Improvements 2015 – 2017 Cycle was issued in December 2017 and is effective for years beginning on or after January 1, 2019. The IASB issued three minor amendments to different standards as part of the Annual Improvements process, with the amendments to be applied prospectively. Adoption of these amendments is not expected to have significant impact on the Company’s Consolidated Financial Statements.

Invested Assets and Investmen33

Invested Assets and Investment Income (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Schedule of Carrying Values and Fair Values of Invested Assets	(a) Carrying values and fair values of invested assets As at December 31, 2017 FVTPL (1) AFS (2) Other (3) Total carrying Total fair (9) Cash and short-term securities (4) $ 439 $ 11,429 $ 4,097 $ 15,965 $ 15,965 Debt securities (5) Canadian government and agency 17,886 4,892 – 22,778 22,778 U.S. government and agency 12,497 13,472 – 25,969 25,969 Other government and agency 16,838 2,988 – 19,826 19,826 Corporate 96,785 5,366 – 102,151 102,151 Mortgage/asset-backed securities 3,018 258 – 3,276 3,276 Public equities 18,473 3,072 – 21,545 21,545 Mortgages – – 44,742 44,742 46,065 Private placements – – 32,132 32,132 34,581 Policy loans – – 5,808 5,808 5,808 Loans to Bank clients – – 1,737 1,737 1,742 Real estate Own use property (6) – – 1,281 1,281 2,448 Investment property – – 12,529 12,529 12,529 Other invested assets Alternative long-duration assets (7) 12,018 88 8,624 20,730 21,053 Various other (8) 142 – 3,611 3,753 3,752 Total invested assets $ 178,096 $ 41,565 $ 114,561 $ 334,222 $ 339,488 As at December 31, 2016 FVTPL (1) AFS (2) Other (3) Total carrying Total fair (9) Cash and short-term securities (4) $ 269 $ 11,705 $ 3,177 $ 15,151 $ 15,151 Debt securities (5) Canadian government and agency 18,030 6,715 – 24,745 24,745 U.S. government and agency 13,971 13,333 – 27,304 27,304 Other government and agency 18,629 2,312 – 20,941 20,941 Corporate 87,374 5,041 – 92,415 92,415 Mortgage/asset-backed securities 2,886 331 – 3,217 3,217 Public equities 16,531 2,965 – 19,496 19,496 Mortgages – – 44,193 44,193 45,665 Private placements – – 29,729 29,729 31,459 Policy loans – – 6,041 6,041 6,041 Loans to Bank clients – – 1,745 1,745 1,746 Real estate Own use property (6) – – 1,376 1,376 2,524 Investment property – – 12,756 12,756 12,756 Other invested assets Alternative long-duration assets (7) 10,707 96 8,048 18,851 19,193 Various other (8) 164 – 3,745 3,909 3,910 Total invested assets $ 168,561 $ 42,498 $ 110,810 $ 321,869 $ 326,563 (1) The FVTPL classification was elected for securities backing insurance contract liabilities to substantially reduce any accounting mismatch arising from changes in the fair value of these assets and changes in the value of the related insurance contract liabilities. If this election had not been made and instead the available-for-sale (2) Securities that are designated as AFS are not actively traded by the Company but sales do occur as circumstances warrant. Such sales result in a reclassification of any accumulated unrealized gain (loss) in AOCI to net income as a realized gain (loss). (3) Primarily includes assets classified as loans and carried at amortized cost, own use properties, investment properties, equity method accounted investments, oil and gas investments, and leveraged leases. Refer to note 1(e) for further details regarding accounting policy. (4) Includes short-term securities with maturities of less than one year at acquisition amounting to $2,737 (2016 – $3,111), cash equivalents with maturities of less than 90 days at acquisition amounting to $9,131 (2016 – $8,863) and cash of $4,097 (2016 – $3,177). (5) Debt securities include securities which were acquired with maturities of less than one year and less than 90 days of $1,768 and $161, respectively (2016 – $893 and $192, respectively). (6) Includes accumulated depreciation of $389 (2016 – $404). (7) Alternative long-duration assets (“ALDA”) include investments in private equity of $4,959, power and infrastructure of $7,355, oil and gas of $2,813, timber and agriculture of $5,033 and various other invested assets of $570 (2016 – $4,619, $6,679, $2,093, $4,972 and $488, respectively). (8) Includes $3,273 (2016 – $3,369) of leveraged leases. Refer to note 1(e) regarding accounting policy. (9) The methodologies used in determining fair values of invested assets are described in note 1 and note 4(g).
Schedule of Other Invested Assets Include Investments in Associates and Joint Ventures Accounted Using Equity Method	Other invested assets include investments in associates and joint ventures which are accounted for using the equity method of accounting as follows. 2017 2016 As at December 31, Carrying % of total Carrying % of total Leveraged leases $ 3,273 56 $ 3,369 58 Timber and agriculture 451 8 430 8 Real estate 498 9 419 7 Other 1,535 27 1,562 27 Total $ 5,757 100 $ 5,780 100
Schedule of Investment Income	(c) Investment income For the year ended December 31, 2017 FVTPL AFS Other (1) Total Yields (2) Cash and short-term securities 0.9% Interest income $ 7 $ 153 $ – $ 160 Gains (losses) (3) 22 (47 ) – (25 ) Debt securities 5.4% Interest income 5,102 577 – 5,679 Gains (losses) (3) 3,690 (205 ) – 3,485 Recovery (impairment loss), net 16 (1 ) – 15 Public equities 16.6% Dividend income 524 79 – 603 Gains (3) 2,372 226 – 2,598 Impairment loss – (14 ) – (14 ) Mortgages 3.9% Interest income – – 1,685 1,685 Gains (3) – – 69 69 Provision, net – – (32 ) (32 ) Private placements 5.3% Interest income – – 1,553 1,553 Gains (3) – – 43 43 Impairment loss, net – – 10 10 Policy loans – – 365 365 6.1% Loans to Bank clients 4.0% Interest income – – 68 68 Real estate 6.2% Rental income, net of depreciation (4) – – 517 517 Gains (3) – – 341 341 Impairment loss – – (4 ) (4 ) Derivatives n/a Interest income, net 809 – 84 893 Gains (losses) (3) (1,029 ) – 84 (945 ) Other invested assets 10.3% Interest income – – 174 174 Oil and gas, timber, agriculture and other income – – 1,690 1,690 Gains (losses) (3) 441 (7 ) 50 484 Impairment loss, net – – (45 ) (45 ) Total investment income $ 11,954 $ 761 $ 6,652 $ 19,367 6.0% Investment income Interest income $ 5,918 $ 730 $ 3,929 $ 10,577 3.3% Dividend, rental and other income 524 79 2,207 2,810 0.9% Impairments, provisions and recoveries, net 16 (15 ) (71 ) (70 ) 0.0% Other 460 (51 ) (77 ) 332 0.1% 6,918 743 5,988 13,649 Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on macro equity hedges Debt securities 3,694 (8 ) – 3,686 1.1% Public equities 2,200 35 – 2,235 0.7% Mortgages – – 69 69 0.0% Private placements – – 40 40 0.0% Real estate – – 350 350 0.1% Other invested assets 329 (9 ) 121 441 0.1% Derivatives, including macro equity hedging program (1,187 ) – 84 (1,103 ) (0.3% ) 5,036 18 664 5,718 Total investment income $ 11,954 $ 761 $ 6,652 $ 19,367 6.0% For the year ended December 31, 2016 FVTPL AFS Other (1) Total Yields (2) Cash and short-term securities 0.7% Interest income $ 7 $ 117 $ – $ 124 Gains (losses) (3) 18 (18 ) – – Debt securities 4.7% Interest income 5,051 588 – 5,639 Gains (3) 1,658 548 – 2,206 Recovery (impairment loss), net (18 ) – – (18 ) Public equities 10.6% Dividend income 534 58 – 592 Gains (3) 1,008 201 – 1,209 Impairment loss – (48 ) – (48 ) Mortgages 4.1% Interest income – – 1,667 1,667 Gains (losses) (3) – – 81 81 Provision, net – – (7 ) (7 ) Private placements 5.4% Interest income – – 1,494 1,494 Gains (3) – – 17 17 Impairment loss, net – – (50 ) (50 ) Policy loans – – 358 358 6.1% Loans to Bank clients 3.9% Interest income – – 68 68 Real estate 4.9% Rental income, net of depreciation (4) – – 523 523 Gains (3) – – 160 160 Derivatives n/a Interest income, net 1,115 – (33 ) 1,082 Losses (3) (2,597 ) – – (2,597 ) Other invested assets 10.3% Interest income – – 103 103 Oil and gas, timber, agriculture and other income – – 1,162 1,162 Gains (3) 634 1 207 842 Impairment loss, net – – (83 ) (83 ) Total investment income $ 7,410 $ 1,447 $ 5,667 $ 14,524 4.7% Investment income Interest income $ 6,173 $ 703 $ 3,657 $ 10,533 3.4% Dividend, rental and other income 534 58 1,685 2,277 0.7% Impairments and provisions (18 ) (48 ) (140 ) (206 ) (0.1% ) Other (6 ) 707 85 786 0.2% 6,683 1,420 5,287 13,390 Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on macro equity hedges Debt securities 1,657 5 – 1,662 0.5% Public equities 963 22 – 985 0.3% Mortgages – – 80 80 0.0% Private placements – – 12 12 0.0% Real estate – – 128 128 0.0% Other invested assets 688 – 160 848 0.3% Derivatives, including macro equity hedging program (2,581 ) – – (2,581 ) (0.8% ) 727 27 380 1,134 Total investment income $ 7,410 $ 1,447 $ 5,667 $ 14,524 4.7% (1) Primarily includes loans carried at amortized cost, own use properties, investment properties, derivative and hedging instruments in cash flow hedging relationships, equity method accounted investments, oil and gas investments, and leveraged leases. (2) Yields are based on income and are calculated using the geometric average of the carrying value of assets held during the reporting year. (3) Includes net realized gains (losses) as well as net unrealized gains (losses) for financial instruments at FVTPL, real estate investment properties, and other invested assets measured at fair value. Also includes net realized gains (losses) for financial instruments at AFS and other invested assets carried at amortized cost. (4) Rental income from investment properties is net of direct operating expenses.
Summary of Total Investment Expenses	The following table presents the Company’s total investment expenses. For the years ended December 31, 2017 2016 Related to invested assets $ 625 $ 581 Related to segregated, mutual and other funds 1,048 1,065 Total investment expenses $ 1,673 $ 1,646
Summary of Rental Income and Direct Operating Expenses of Investment Properties	The following table presents rental income and direct operating expenses of investment properties. For the years ended December 31, 2017 2016 Rental income from investment properties $ 1,120 $ 1,204 Direct operating expenses of investment properties that generated rental income (694 ) (764 ) Total $ 426 $ 440
Summary of Carrying Amount of Securitized Assets and Secured Borrowing Liabilities	The following table presents the carrying amount of securitized assets and secured borrowing liabilities. As at December 31, 2017 Securitized assets Securitization program Securitized Restricted cash and Total Secured borrowing (2) HELOC securitization (1) $ 2,024 $ 8 $ 2,032 $ 2,000 CMB securitization 1,480 – 1,480 1,523 Total $ 3,504 $ 8 $ 3,512 $ 3,523 As at December 31, 2016 Securitized assets Securitization program Securitized Restricted cash and Total Secured borrowing (2) HELOC securitization (1) $ 1,762 $ 8 $ 1,770 $ 1,750 CMB securitization 1,018 – 1,018 1,032 Total $ 2,780 $ 8 $ 2,788 $ 2,782 (1) Manulife Bank, a MFC subsidiary, securitizes a portion of its HELOC receivables through Platinum Canadian Mortgage Trust (“PCMT”), and Platinum Canadian Mortgage Trust II (“PCMT II”). PCMT funds the purchase of the co-ownership co-ownership (2) Secured borrowing liabilities primarily comprise of Series 2011-1 2016-1
Summary of Invested Assets and Segregated Funds Net Assets, Measured at Fair Value	The following table presents fair values and the fair value hierarchy of invested assets and segregated funds net assets measured at fair value in the Consolidated Statements of Financial Position. As at December 31, 2017 Total fair Level 1 Level 2 Level 3 Cash and short-term securities FVTPL $ 439 $ – $ 439 $ – AFS 11,429 – 11,429 – Other 4,097 4,097 – – Debt securities FVTPL Canadian government and agency 17,886 – 17,886 – U.S. government and agency 12,497 – 12,497 – Other government and agency 16,838 – 16,599 239 Corporate 96,785 2 96,073 710 Residential mortgage/asset-backed securities 8 – 7 1 Commercial mortgage/asset-backed securities 1,099 – 1,099 – Other securitized assets 1,911 – 1,886 25 AFS Canadian government and agency 4,892 – 4,892 – U.S. government and agency 13,472 – 13,472 – Other government and agency 2,988 – 2,941 47 Corporate 5,366 – 5,278 88 Residential mortgage/asset-backed securities 37 – 37 – Commercial mortgage/asset-backed securities 138 – 138 – Other securitized assets 83 – 82 1 Public equities FVTPL 18,473 18,470 – 3 AFS 3,072 3,069 3 – Real estate – investment property (1) 12,529 – – 12,529 Other invested assets (2) 16,203 – – 16,203 Segregated funds net assets (3) 324,307 286,490 33,562 4,255 Total $ 564,549 $ 312,128 $ 218,320 $ 34,101 As at December 31, 2016 Total fair Level 1 Level 2 Level 3 Cash and short-term securities FVTPL $ 269 $ – $ 269 $ – AFS 11,705 – 11,705 – Other 3,177 3,177 – – Debt securities FVTPL Canadian government and agency 18,030 – 18,030 – U.S. government and agency 13,971 – 13,971 – Other government and agency 18,629 – 18,357 272 Corporate 87,374 2 86,721 651 Residential mortgage/asset-backed securities 10 – 8 2 Commercial mortgage/asset-backed securities 680 – 674 6 Other securitized assets 2,196 – 2,161 35 AFS Canadian government and agency 6,715 – 6,715 – U.S. government and agency 13,333 – 13,333 – Other government and agency 2,312 – 2,261 51 Corporate 5,041 – 4,967 74 Residential mortgage/asset-backed securities 65 – 64 1 Commercial mortgage/asset-backed securities 123 – 121 2 Other securitized assets 143 – 141 2 Public equities FVTPL 16,531 16,524 – 7 AFS 2,965 2,963 2 – Real estate – investment property (1) 12,756 – – 12,756 Other invested assets (2) 14,849 – – 14,849 Segregated funds net assets (3) 315,177 278,066 32,537 4,574 Total $ 546,051 $ 300,732 $ 212,037 $ 33,282 (1) For investment properties, the significant unobservable inputs are capitalization rates (ranging from 3.50% to 9.00% during the year and ranging from 3.75% to 9.75% during the year 2016) and terminal capitalization rates (ranging from 4.0% to 9.25% during the year and ranging from 4.1% to 10.0% during the year 2016). Holding other factors constant, a lower capitalization or terminal capitalization rate will tend to increase the fair value of an investment property. Changes in fair value based on variations in unobservable inputs generally cannot be extrapolated because the relationship between the directional changes of each input is not usually linear. (2) Other invested assets measured at fair value are held primarily in power and infrastructure and timber sectors. The significant inputs used in the valuation of the Company’s power and infrastructure investments are primarily future distributable cash flows, terminal values and discount rates. Holding other factors constant, an increase to future distributable cash flows or terminal values would tend to increase the fair value of a power and infrastructure investment, while an increase in the discount rate would have the opposite effect. Discount rates during the year ranged from 9.20% to 16.5% (2016 – ranged from 9.63% to 16.0%). Disclosure of distributable cash flow and terminal value ranges are not meaningful given the disparity in estimates by project. The significant inputs used in the valuation of the Company’s investments in timberland are timber prices and discount rates. Holding other factors constant, an increase to timber prices would tend to increase the fair value of a timberland investment, while an increase in the discount rates would have the opposite effect. Discount rates during the year ranged from 5.0% to 7.5% (2016 – ranged from 5.0% to 7.5%). A range of prices for timber is not meaningful as the market price depends on factors such as property location and proximity to markets and export yards. (3) Segregated funds net assets are measured at fair value. The Company’s Level 3 segregated funds assets are predominantly invested in timberland properties valued as described above.
Summary of Fair Values Categorized by the Fair Value Hierarchy	For invested assets not measured at fair value in the Consolidated Statements of Financial Position, the following table presents their fair values categorized by the fair value hierarchy. As at December 31, 2017 Carrying Fair value Level 1 Level 2 Level 3 Mortgages (1) $ 44,742 $ 46,065 $ – $ – $ 46,065 Private placements (2) 32,132 34,581 – 28,514 6,067 Policy loans (3) 5,808 5,808 – 5,808 – Loans to Bank clients (4) 1,737 1,742 – 1,742 – Real estate – own use property (5) 1,281 2,448 – – 2,448 Other invested assets (6) 8,280 8,602 88 – 8,514 Total invested assets disclosed at fair value $ 93,980 $ 99,246 $ 88 $ 36,064 $ 63,094 As at December 31, 2016 Carrying Fair value Level 1 Level 2 Level 3 Mortgages (1) $ 44,193 $ 45,665 $ – $ – $ 45,665 Private placements (2) 29,729 31,459 – 26,073 5,386 Policy loans (3) 6,041 6,041 – 6,041 – Loans to Bank clients (4) 1,745 1,746 – 1,746 – Real estate – own use property (5) 1,376 2,524 – – 2,524 Other invested assets (6) 7,911 8,254 54 – 8,200 Total invested assets disclosed at fair value $ 90,995 $ 95,689 $ 54 $ 33,860 $ 61,775 (1) Fair value of commercial mortgages is determined through an internal valuation methodology using both observable and unobservable inputs. Unobservable inputs include credit assumptions and liquidity spread adjustments. Fair value of fixed-rate residential mortgages is determined using the discounted cash flow method. Inputs used for valuation are primarily comprised of prevailing interest rates and prepayment rates, if applicable. Fair value of variable-rate residential mortgages is assumed to be their carrying value. (2) Fair value of private placements is determined through an internal valuation methodology using both observable and unobservable inputs. Unobservable inputs include credit assumptions and liquidity spread adjustments. Private placements are classified within Level 2 unless the liquidity adjustment constitutes a significant price impact, in which case the securities are classified as Level 3. (3) Fair value of policy loans is equal to their unpaid principal balances. (4) Fair value of fixed-rate loans to Bank clients is determined using the discounted cash flow method. Inputs used for valuation are primarily comprised of current interest rates. Fair value of variable-rate loans is assumed to be their carrying value. (5) Fair value of own use real estate and the fair value hierarchy are determined in accordance with the methodologies described for real estate – investment property in note 1. (6) Primarily include leveraged leases, oil and gas properties and equity method accounted other invested assets. Fair value of leveraged leases is disclosed at their carrying values as fair value is not routinely calculated on these investments. Fair value for oil and gas properties is determined using external appraisals based on discounted cash flow methodology. Inputs used in valuation are primarily comprised of forecasted price curves, planned production, as well as capital expenditures, and operating costs. Fair value of equity method accounted other invested assets is determined using a variety of valuation techniques including discounted cash flows and market comparable approaches. Inputs vary based on the specific investment.
Summary of Invested Assets and Segregated Funds Net Assets Measured at Fair Value Using Significant Unobservable Inputs (Level 3)	The following table presents a roll forward of invested assets and segregated funds net assets measured at fair value using significant unobservable inputs (Level 3) for the years ended December 31, 2017 and 2016. For the year ended Balance, Net (1) Net (2) Purchases Sales (3) Settlements Transfer into Level 3 (4) Transfer out of Level 3 (4) Currency Balance, Change in Debt securities FVTPL Other government & agency $ 272 $ (3 ) $ – $ 26 $ (58 ) $ (6 ) $ – $ – $ 8 $ 239 $ (3 ) Corporate 651 19 – 105 (34 ) (29 ) 24 (21 ) (5 ) 710 10 Residential mortgage/asset-backed securities 2 – – – – – – – (1 ) 1 (1 ) Commercial mortgage/asset-backed securities 6 – – – (5 ) (1 ) – – – – – Other securitized assets 35 (1 ) – – – (7 ) – – (2 ) 25 (1 ) 966 15 – 131 (97 ) (43 ) 24 (21 ) – 975 5 AFS Other government & agency 51 (1 ) (2 ) 14 (15 ) (2 ) 1 – 1 47 – Corporate 74 – 4 22 (10 ) (4 ) – – 2 88 – Residential mortgage/asset-backed securities 1 – (1 ) – – – – – – – – Commercial mortgage/asset-backed securities 2 – – – (1 ) (1 ) – – – – – Other securitized assets 2 – – – – (1 ) – – – 1 – 130 (1 ) 1 36 (26 ) (8 ) 1 – 3 136 – Public equities FVTPL 7 – – – (4 ) – – – – 3 – 7 – – – (4 ) – – – – 3 – Real estate – investment property 12,756 301 – 1,257 (1,267 ) – – – (518 ) 12,529 264 Other invested assets 14,849 395 – 3,022 (435 ) (837 ) – – (791 ) 16,203 244 27,605 696 – 4,279 (1,702 ) (837 ) – – (1,309 ) 28,732 508 Segregated funds net assets 4,574 60 – 261 (248 ) (54 ) – (184 ) (154 ) 4,255 45 Total $ 33,282 $ 770 $ 1 $ 4,707 $ (2,077 ) $ (942 ) $ 25 $ (205 ) $ (1,460 ) $ 34,101 $ 558 For the year ended December 31, 2016 Balance, Net (1) Net (2) Purchases Sales (3) Settlements Transfer into Level 3 (4) Transfer out of Level 3 (4) Currency Balance, Change in Debt securities FVTPL Other government & agency $ 310 $ 3 $ – $ 50 $ (41 ) $ (30 ) $ – $ – $ (20 ) $ 272 $ 1 Corporate 903 (29 ) – 83 (84 ) (134 ) 58 (124 ) (22 ) 651 (4 ) Residential mortgage/asset-backed securities 15 – – – (11 ) (1 ) – – (1 ) 2 1 Commercial mortgage/asset-backed securities 70 – – – (56 ) (4 ) – – (4 ) 6 (3 ) Other securitized assets 48 – – – (1 ) (7 ) – (4 ) (1 ) 35 – 1,346 (26 ) – 133 (193 ) (176 ) 58 (128 ) (48 ) 966 (5 ) AFS Other government & agency 42 – – 18 (6 ) – – – (3 ) 51 – Corporate 90 – (2 ) 29 (32 ) (3 ) – (5 ) (3 ) 74 – Residential mortgage/asset-backed securities 8 (1 ) 1 – (6 ) – – – (1 ) 1 – Commercial mortgage/asset-backed securities 4 – – – – (1 ) – – (1 ) 2 – Other securitized assets 5 – 2 – – (1 ) – (4 ) – 2 – 149 (1 ) 1 47 (44 ) (5 ) – (9 ) (8 ) 130 – Public equities FVTPL – – – 7 – – – – – 7 – – – – 7 – – – – – 7 – Real estate –investment property 13,968 163 – 681 (1,782 ) – – – (274 ) 12,756 197 Other invested assets 12,977 786 9 2,171 (76 ) (685 ) – – (333 ) 14,849 847 26,945 949 9 2,852 (1,858 ) (685 ) – – (607 ) 27,605 1,044 Segregated funds net assets 4,656 92 – 356 (312 ) (19 ) (12 ) (105 ) (82 ) 4,574 93 Total $ 33,096 $ 1,014 $ 10 $ 3,395 $ (2,407 ) $ (885 ) $ 46 $ (242 ) $ (745 ) $ 33,282 $ 1,132 (1) These amounts, except for the amount related to segregated funds net assets, are included in net investment income on the Consolidated Statements of Income. (2) These amounts are included in AOCI on the Consolidated Statements of Financial Position. (3) Sales in 2017 include $619 of U.S. commercial real estate sold to the Hancock US Real Estate Fund, L.P., an associate of the Company which is a structured entity based on partnership voting rights. The Company provides management services to the fund and owns approximately 11.7% of its partnership interests. Also in 2017, sales include US$313 (2016 – $1,011) of U.S. commercial real estate sold to the Manulife US Real Estate Investment Trust in Singapore, an associate of the Company which is a structured entity based on unitholder voting rights. The Company provides management services to the trust and owns approximately 9.5% of its units. (4) For assets transferred into and out of Level 3, the Company uses fair values of the assets at the beginning of the year.

Derivative and Hedging Instru34

Derivative and Hedging Instruments (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Summary of Gross Notional Amount and Fair Value of Derivative Contracts	The following table presents the gross notional amount and fair value of derivative contracts by the underlying risk exposure for derivatives in qualifying hedging and derivatives not designated in qualifying hedging relationships. As at December 31, 2017 2016 Notional Fair value Notional Fair value Type of hedge Instrument type Assets Liabilities Assets Liabilities Qualifying hedge accounting relationships Fair value hedges Interest rate swaps $ 548 $ – $ 20 $ 2,158 $ – $ 477 Foreign currency swaps 84 1 4 91 1 3 Cash flow hedges Foreign currency swaps 1,757 20 333 1,285 – 447 Forward contracts 165 – 4 255 – 23 Equity contracts 125 16 1 126 21 1 Total derivatives in qualifying hedge accounting relationships 2,679 37 362 3,915 22 951 Derivatives not designated in qualifying hedge accounting relationships Interest rate swaps 246,270 12,984 6,251 281,188 21,900 10,878 Interest rate futures 11,551 – – 11,616 – – Interest rate options 10,093 312 – 9,390 376 – Foreign currency swaps 16,321 494 1,122 12,226 347 1,645 Currency rate futures 3,157 – – 4,729 – – Forward contracts 20,341 915 65 15,411 340 644 Equity contracts 13,597 813 22 14,989 669 33 Credit default swaps 606 14 – 662 18 – Equity futures 12,158 – – 16,072 – – Total derivatives not designated in qualifying hedge accounting relationships 334,094 15,532 7,460 366,283 23,650 13,200 Total derivatives $ 336,773 $ 15,569 $ 7,822 $ 370,198 $ 23,672 $ 14,151
Summary of Gross Notional Amount by Remaining Term to Maturity, Total Fair Value (Including Accrued Interest), Credit Risk Equivalent and Risk Weighted Amount by Contract Type	The following table presents fair value of derivative instruments by remaining term to maturity. Fair values disclosed below do not incorporate the impact of master netting agreements. Refer to note 10. Remaining term to maturity As at December 31, 2017 Less than 1 year 1 to 3 years 3 to 5 years Over 5 years Total Derivative assets $ 605 $ 822 $ 889 $ 13,253 $ 15,569 Derivative liabilities 224 149 168 7,281 7,822 Remaining term to maturity As at December 31, 2016 Less than 1 year 1 to 3 years 3 to 5 years Over 5 years Total Derivative assets $ 467 $ 680 $ 719 $ 21,806 $ 23,672 Derivative liabilities 593 595 511 12,452 14,151 The following table presents gross notional amount by remaining term to maturity, total fair value (including accrued interest), credit risk equivalent and risk-weighted amount by contract type. Remaining term to maturity (notional amounts) Fair value As at December 31, 2017 Under 1 year 1 to 5 years Over 5 years Total Positive Negative Net Credit risk equivalent (1) Risk- weighted amount (2) Interest rate contracts OTC swap contracts $ 7,161 $ 19,141 $ 112,412 $ 138,714 $ 13,379 $ (6,867 ) $ 6,512 $ 6,588 $ 809 Cleared swap contracts 1,615 12,928 93,561 108,104 245 (206 ) 39 – – Forward contracts 6,036 10,614 675 17,325 903 (38 ) 865 285 35 Futures 11,551 – – 11,551 – – – – – Options purchased 816 3,856 5,421 10,093 312 – 312 471 61 Subtotal 27,179 46,539 212,069 285,787 14,839 (7,111 ) 7,728 7,344 905 Foreign exchange Swap contracts 999 4,481 12,682 18,162 510 (1,483 ) (973 ) 1,874 200 Forward contracts 3,046 135 – 3,181 12 (31 ) (19 ) 101 12 Futures 3,157 – – 3,157 – – – – – Credit derivatives 38 568 – 606 14 – 14 – – Equity contracts Swap contracts 2,612 169 – 2,781 60 (14 ) 46 337 35 Futures 12,158 – – 12,158 – – – – – Options purchased 4,693 6,148 100 10,941 769 (10 ) 759 2,606 305 Subtotal including accrued interest 53,882 58,040 224,851 336,773 16,204 (8,649 ) 7,555 12,262 1,457 Less accrued interest – – – – 635 (827 ) (192 ) – – Total $ 53,882 $ 58,040 $ 224,851 $ 336,773 $ 15,569 $ (7,822 ) $ 7,747 $ 12,262 $ 1,457 Remaining term to maturity (notional amounts) Fair value As at December 31, 2016 Under 1 year 1 to 5 years Over 5 years Total Positive Negative Net Credit risk equivalent (1) Risk- weighted amount (2) Interest rate contracts OTC swap contracts $ 13,244 $ 37,395 $ 164,252 $ 214,891 $ 19,327 $ (10,154 ) $ 9,173 $ 10,205 $ 1,493 Cleared swap contracts 717 4,786 62,952 68,455 3,507 (2,117 ) 1,390 – – Interest rate forwards 7,229 6,143 873 14,245 326 (629 ) (303 ) 192 29 Futures 11,616 – – 11,616 – – – – – Options purchased 483 2,927 5,980 9,390 376 – 376 458 70 Subtotal 33,289 51,251 234,057 318,597 23,536 (12,900 ) 10,636 10,855 1,592 Foreign exchange Swap contracts 425 3,917 9,259 13,601 346 (2,120 ) (1,774 ) 1,491 181 Forward contracts 1,257 165 – 1,422 13 (38 ) (25 ) 62 9 Futures 4,729 – – 4,729 – – – – – Credit derivatives 47 615 – 662 18 – 18 – – Equity contracts Swap contracts 3,107 192 – 3,299 64 (35 ) 29 495 54 Futures 16,072 – – 16,072 – – – – – Options purchased 6,007 5,809 – 11,816 626 (2 ) 624 2,735 358 Subtotal including accrued interest 64,933 61,949 243,316 370,198 24,603 (15,095 ) 9,508 15,638 2,194 Less accrued interest – – – – 931 (944 ) (13 ) – – Total $ 64,933 $ 61,949 $ 243,316 $ 370,198 $ 23,672 $ (14,151 ) $ 9,521 $ 15,638 $ 2,194 (1) Credit risk equivalent is the sum of replacement cost and the potential future credit exposure. Replacement cost represents the current cost of replacing all contracts with a positive fair value. The amounts take into consideration legal contracts that permit offsetting of positions. The potential future credit exposure is calculated based on a formula prescribed by OSFI. (2) Risk-weighted amount represents the credit risk equivalent, weighted according to the creditworthiness of the counterparty, as prescribed by OSFI.
Summary of Fair Value of Derivative Contracts	The following table presents fair value of derivative contracts and the fair value hierarchy. As at December 31, 2017 Fair value Level 1 Level 2 Level 3 Derivative assets Interest rate contracts $ 14,199 $ – $ 13,181 $ 1,018 Foreign exchange contracts 527 – 527 – Equity contracts 829 – 768 61 Credit default swaps 14 – 14 – Total derivative assets $ 15,569 $ – $ 14,490 $ 1,079 Derivative liabilities Interest rate contracts $ 6,309 $ – $ 6,012 $ 297 Foreign exchange contracts 1,490 – 1,490 – Equity contracts 23 – 10 13 Total derivative liabilities $ 7,822 $ – $ 7,512 $ 310 As at December 31, 2016 Fair value Level 1 Level 2 Level 3 Derivative assets Interest rate contracts $ 22,602 $ – $ 22,045 $ 557 Foreign exchange contracts 362 – 361 1 Equity contracts 690 – 182 508 Credit default swaps 18 – 18 – Total derivative assets $ 23,672 $ – $ 22,606 $ 1,066 Derivative liabilities Interest rate contracts $ 11,984 $ – $ 11,114 $ 870 Foreign exchange contracts 2,133 – 2,133 – Equity contracts 34 – 1 33 Total derivative liabilities $ 14,151 $ – $ 13,248 $ 903
Net Derivative Significant Unobservable Inputs Used in Fair Value Measurement	The following table presents a roll forward for net derivative contracts measured at fair value using significant unobservable inputs (Level 3). For the years ended December 31, 2017 2016 Balance at the beginning of the year $ 163 $ 350 Net realized / unrealized gains (losses) included in: Net income (1) 1,082 47 OCI (2) (9 ) 40 Purchases 22 373 Settlements (103 ) (522 ) Transfers Into Level 3 (3) – – Out of Level 3 (3) (363 ) (116 ) Currency movement (23 ) (9 ) Balance at the end of the year $ 769 $ 163 Change in unrealized gains (losses) on instruments still held $ 832 $ 145 (1) These amounts are included in investment income on the Consolidated Statements of Income. (2) These amounts are included in AOCI on the Consolidated Statements of Financial Position. (3) For derivatives transferred into and out of Level 3, the Company uses the fair value of the items at the end and beginning of the period, respectively. Transfers into Level 3 occur when the inputs used to price the assets and liabilities lack observable market data (versus the previous year). Transfers out of Level 3 occur when the inputs used to price the assets and liabilities become available from observable market data.
Summary of Recognized Gains Losses on Derivatives and Hedged Items in Fair Value Hedges in Investment Income	The Company recognizes gains and losses on derivatives and the related hedged items in fair value hedges in investment income. These investment gains (losses) are shown in the following table. For the year ended December 31, 2017 Hedged items in qualifying fair value hedging relationships Gains (losses) Gains (losses) Ineffectiveness Interest rate swaps Fixed rate assets $ 2 $ (3 ) $ (1) Fixed rate liabilities (17 ) 17 – Foreign currency swaps Fixed rate assets (2 ) 4 2 Total $ (17 ) $ 18 $ 1 For the year ended December 31, 2016 Hedged items in qualifying fair value hedging relationships Gains (losses) Gains (losses) Ineffectiveness Interest rate swaps Fixed rate assets $ (52 ) $ 30 $ (22) Fixed rate liabilities (1 ) 1 – Foreign currency swaps Fixed rate assets – 2 2 Total $ (53 ) $ 33 $ (20)
Summary of Effects of Derivatives in Cash Flow Hedging Relationships	The effects of derivatives in cash flow hedging relationships on the Consolidated Statements of Income and the Consolidated Statements of Comprehensive Income are shown in the following table. For the year ended December 31, 2017 Hedged items in qualifying cash flow hedging relationships Gains (losses) Gains (losses) Ineffectiveness income Interest rate swaps Forecasted liabilities $ – $ (17 ) $ – Foreign currency swaps Fixed rate assets 3 (1 ) – Floating rate liabilities 95 50 – Fixed rate liabilities 35 7 – Forward contracts Forecasted expenses 10 (10 ) – Equity contracts Stock-based compensation 20 29 – Total $ 163 $ 58 $ – For the year ended December 31, 2016 Hedged items in qualifying cash flow hedging relationships Gains (losses) Gains (losses) Ineffectiveness Interest rate swaps Forecasted liabilities $ – $ (18 ) $ – Foreign currency swaps Fixed rate assets (4 ) – – Floating rate liabilities 47 23 – Fixed rate liabilities (15 ) (8 ) – Forward contracts Forecasted expenses 7 (14 ) – Equity contracts Stock-based compensation 39 (1 ) – Non-derivative Forecasted expenses – 3 – Total $ 74 $ (15 ) $ –
Summary of Effects of Net Investment Hedging Relationships	The effects of net investment hedging relationships on the Consolidated Statements of Income and the Consolidated Statements of Other Comprehensive Income are shown in the following table. For the year ended December 31, 2017 Gains (losses) Gains (losses) Ineffectiveness Non-functional $ 355 $ – $ – Total $ 355 $ – $ – For the year ended December 31, 2016 Gains (losses) Gains (losses) Ineffectiveness Non-functional $ (25 ) $ – $ – Total $ (25 ) $ – $ –
Summary of Effects of Derivatives Not Designated in Qualifying Hedge Accounting Relationships	The effects of derivatives not designated in qualifying hedge accounting relationships on the Consolidated Statements of Income are shown in the following table. For the years ended December 31, 2017 2016 Investment income (loss) Interest rate swaps $ (927 ) $ (141 ) Interest rate futures 372 (26 ) Interest rate options (96 ) (11 ) Foreign currency swaps 529 (14 ) Currency rate futures (92 ) 263 Forward contracts 1,231 (88 ) Equity futures (2,190 ) (2,387 ) Equity contracts 153 (171 ) Credit default swaps (4 ) 1 Total $ (1,024) $ (2,574 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Components of Income Tax Expense (Recovery) Recognized	Income tax expenses (recovery) recognized in the Consolidated Statements of Income: For the years ended December 31, 2017 2016 Current tax Current year $ 608 $ 659 Adjustments to prior year (1) (38 ) (228 ) 570 431 Deferred tax Change related to temporary differences (803 ) (235 ) Impact of U.S. Tax Reform 472 – Income tax expense $ 239 $ 196 (1) Adjustments relating to closure of multiple taxation years Income tax expenses (recovery) recognized in Other Comprehensive Income (“OCI”): For the years ended December 31, 2017 2016 Current income tax expense (recovery) $ 116 $ (72 ) Deferred income tax expense (recovery) 320 (25 ) Income tax expense (recovery) $ 436 $ (97 ) Income tax expenses (recovery) recognized directly in Equity: For the years ended December 31, 2017 2016 Current income tax expense (recovery) $ – $ (2 ) Deferred income tax expense (recovery) (2 ) (2 ) Income tax expense (recovery) $ (2 ) $ (4 )
Summary of Reconciliation of Income Tax Expense	The effective income tax rate reflected in the Consolidated Statements of Income varies from the Canadian tax rate of 26.75 per cent for the year ended December 31, 2017 (2016 – 26.75 per cent) and the reasons are disclosed below. Reconciliation of income tax expense For the years ended December 31, 2017 2016 Income before income taxes $ 2,501 $ 3,329 Income tax expense at Canadian statutory tax rate $ 669 $ 890 Increase (decrease) in income taxes due to: Tax-exempt (242 ) (229 ) Differences in tax rate on income not subject to tax in Canada (551 ) (366 ) Recovery of unrecognized tax losses of prior years – (10 ) Adjustments to taxes related to prior years (182 ) (206 ) Tax losses and temporary differences not recognized as deferred taxes 14 22 Impact of U.S. Tax Reform 472 – Other differences 59 95 Income tax expense $ 239 $ 196
Summary of Deferred Tax Assets and Liabilities	The following table presents the Company’s deferred tax assets and liabilities. As at December, 31 2017 2016 Deferred tax assets $ 4,569 $ 4,439 Deferred tax liabilities (1,281 ) (1,359 ) Net deferred tax assets $ 3,288 $ 3,080
Components of Deferred Tax Assets and Liabilties	The following table presents significant components of the Company’s deferred tax assets and liabilities. As at December 31, 2017 Balance, Recognized Recognized in Recognized Translation Balance, Loss carry forwards $ 942 $ (311 ) $ – $ 3 $ (38 ) $ 596 Actuarial liabilities 9,366 (1,053 ) (17 ) – (418 ) 7,878 Pensions and post-employment benefits 352 (87 ) (54 ) – (3 ) 208 Tax credits 875 (369 ) – – (52 ) 454 Accrued interest 17 (12 ) – (3 ) (1 ) 1 Real estate (1,396 ) 284 (9 ) – 59 (1,062 ) Securities and other investments (6,064 ) 2,172 (239 ) – 324 (3,807 ) Sale of investments (163 ) 58 – – – (105 ) Goodwill and intangible assets (1,059 ) 197 – – 37 (825 ) Other 210 (548 ) (1 ) 2 287 (50 ) Total $ 3,080 $ 331 $ (320) $ 2 $ 195 $ 3,288 As at December 31, 2016 Balance, Recognized Recognized in Recognized Translation Balance, Loss carry forwards $ 1,493 $ (515 ) $ – $ – $ (36 ) $ 942 Actuarial liabilities 9,448 244 (5 ) (116 ) (205 ) 9,366 Pensions and post-employment benefits 329 100 (79 ) – 2 352 Tax credits 750 147 – – (22 ) 875 Accrued interest 121 (100 ) – – (4 ) 17 Real estate (1,812 ) 373 – – 43 (1,396 ) Securities and other investments (6,218 ) (243 ) 113 112 172 (6,064 ) Sale of investments (200 ) 37 – – – (163 ) Goodwill and intangible assets (1,138 ) 58 – – 21 (1,059 ) Other 59 134 (4 ) 6 15 210 Total $ 2,832 $ 235 $ 25 $ 2 $ (14 ) $ 3,080

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Summary of Carrying Amounts of Goodwill and Intangible Assets	(a) Carrying amounts of goodwill and intangible assets As at December 31, 2017 Balance, Additions/ Amortization Effect of changes Balance, Goodwill $ 5,884 $ – $ n/a $ (171 ) $ 5,713 Indefinite life intangible assets Brand 805 – n/a (52 ) 753 Fund management contracts and other (1) 785 – n/a (30 ) 755 1,590 – n/a (82 ) 1,508 Finite life intangible assets (2) Distribution networks 1,093 – 47 (57 ) 989 Customer relationships 969 – 56 (14 ) 899 Software 494 306 121 (18 ) 661 Other 77 – 5 (2 ) 70 2,633 306 229 (91 ) 2,619 Total intangible assets 4,223 306 229 (173 ) 4,127 Total goodwill and intangible assets $ 10,107 $ 306 $ 229 $ (344 ) $ 9,840 As at December 31, 2016 Balance, Additions (3) (4) Amortization Effect of changes Balance, Goodwill $ 5,685 $ 256 $ n/a $ (57 ) $ 5,884 Indefinite life intangible assets Brand 831 – n/a (26 ) 805 Fund management contracts and other (1) 723 76 n/a (14 ) 785 1,554 76 n/a (40 ) 1,590 Finite life intangible assets (2) Distribution networks 726 450 50 (33 ) 1,093 Customer relationships 947 79 53 (4 ) 969 Software 396 229 126 (5 ) 494 Other 76 6 5 – 77 2,145 764 234 (42 ) 2,633 Total intangible assets 3,699 840 234 (82 ) 4,223 Total goodwill and intangible assets $ 9,384 $ 1,096 $ 234 $ (139 ) $ 10,107 (1) For fund management contracts, the significant CGUs to which these were allocated and their associated carrying values were John Hancock Investments and Retirement Plan Services with $367 (2016 – $393) and Canadian Wealth (excluding Manulife Bank of Canada) with $273 (2016 – $273). (2) Gross carrying amount of finite life intangible assets was $1,294 for distribution networks, $1,128 for customer relationships, $1,841 for software and $126 for other (2016 – $1,363, $1,142, $1,581 and $133, respectively). (3) In 2016, acquisitions of Standard Chartered’s MPF business in Hong Kong and Transamerica’s broker-dealer business in the USA led to additions of goodwill of $194 and $59 and intangible assets of $193 and $26, respectively. Commencement of sales through the DBS relationship led to recognition of $536 of distribution networks. (4) In 2016, disposals include impairments of distribution networks for discontinued products of $150 in the U.S. Division.
Summary of Impairment Testing of Goodwill	sold, and where interdependencies exist. The following tables present the carrying value of goodwill by CGUs. As at December 31, 2017 CGU or Group of CGUs Balance, 2017 Additions/ Effect of Balance, 2017 Asia (excluding Hong Kong and Japan) $ 160 $ – $ (6 ) $ 154 Hong Kong 194 – (14 ) 180 Japan Insurance and Wealth 403 – (12 ) 391 Canadian Individual Life 155 – – 155 Canadian Affinity Markets 83 – – 83 Canadian Wealth (excluding Manulife Bank) 1,085 – – 1,085 Canadian Group Benefits and Group Retirement Solutions 1,773 – – 1,773 International Group Program 90 – (6 ) 84 John Hancock Insurance 428 – (28 ) 400 John Hancock Investments and Retirement Plan Services 1,220 – (99 ) 1,121 Manulife Asset Management and Other 293 – (6 ) 287 Total $ 5,884 $ – $ (171 ) $ 5,713 As at December 31, 2016 CGU or Group of CGUs Balance, 2016 Additions/ Effect of Balance, 2016 Asia (excluding Hong Kong and Japan) $ 166 $ – $ (6 ) $ 160 Hong Kong – 194 – 194 Japan Insurance and Wealth 404 – (1 ) 403 Canadian Individual Life 155 – – 155 Canadian Affinity Markets 83 – – 83 Canadian Wealth (excluding Manulife Bank) 1,085 – – 1,085 Canadian Group Benefits and Group Retirement Solutions 1,773 – – 1,773 International Group Program 93 – (3 ) 90 John Hancock Insurance 378 59 (9 ) 428 John Hancock Investments and Retirement Plan Services 1,254 3 (37 ) 1,220 Manulife Asset Management and Other 294 – (1 ) 293 Total $ 5,685 $ 256 $ (57 ) $ 5,884

Insurance Contract Liabilitie37

Insurance Contract Liabilities and Reinsurance Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Summary of Insurance Contract Liabilities and Reinsurance Assets	for unreported claims and policyholder amounts on deposit. The components of gross and net insurance contract liabilities are shown below. As at December 31, 2017 2016 Gross insurance contract liabilities $ 291,767 $ 284,778 Gross benefits payable and provision for unreported claims 3,376 3,309 Gross policyholder amounts on deposit 9,462 9,418 Gross insurance contract liabilities 304,605 297,505 Reinsurance assets (30,359 ) (34,952 ) Net insurance contract liabilities $ 274,246 $ 262,553
Summary of Composition of Insurance Contract Liabilities and Reinsurance Assets by Line of Business and Reporting Segment	The composition of insurance contract liabilities and reinsurance assets by line of business and reporting segment is as follows. Gross insurance contract liabilities Individual insurance As at December 31, 2017 Participating Non- participating Annuities Other (1) Total, net of Total Total, Asia division $ 32,737 $ 22,705 $ 4,366 $ 2,435 $ 62,243 $ 911 $ 63,154 Canadian division 11,132 34,091 19,141 11,834 76,198 (676 ) 75,522 U.S. division 8,569 57,599 26,161 43,522 135,851 29,952 165,803 Corporate and Other – (515 ) 48 421 (46 ) 172 126 Total, net of reinsurance ceded 52,438 113,880 49,716 58,212 274,246 $ 30,359 $ 304,605 Total reinsurance ceded 11,492 11,238 6,539 1,090 30,359 Total, gross of reinsurance ceded $ 63,930 $ 125,118 $ 56,255 $ 59,302 $ 304,605 Individual insurance As at December 31, 2016 Participating Non- participating Annuities Other (1) Total, net of Total Total, Asia division $ 29,520 $ 18,799 $ 3,599 $ 2,649 $ 54,567 $ 880 $ 55,447 Canadian division 10,974 31,790 19,620 11,000 73,384 593 73,977 U.S. division 9,419 56,484 28,529 40,760 135,192 33,220 168,412 Corporate and Other – (833 ) 62 181 (590 ) 259 (331 ) Total, net of reinsurance ceded 49,913 106,240 51,810 54,590 262,553 $ 34,952 $ 297,505 Total reinsurance ceded 13,558 12,122 8,159 1,113 34,952 Total, gross of reinsurance ceded $ 63,471 $ 118,362 $ 59,969 $ 55,703 $ 297,505 (1) Other insurance contract liabilities include group insurance and individual and group health including long-term care insurance.
Summary of Carrying Value of Total Assets Backing Net Insurance Contract Liabilities, Other Liabilities and Capital	The carrying value of total assets backing net insurance contract liabilities, other liabilities and capital was as follows. Individual insurance As at December 31, 2017 Participating Non- participating Annuities Other insurance (1) Other (2) Capital (3) Total Assets Debt securities $ 27,946 $ 63,128 $ 26,621 $ 25,211 $ 6,635 $ 24,459 $ 174,000 Public equities 9,264 5,855 171 332 1,029 4,894 21,545 Mortgages 2,017 10,286 7,009 6,891 18,476 63 44,742 Private placements 3,645 12,128 8,059 7,739 367 194 32,132 Real estate 2,963 6,198 1,136 2,516 769 228 13,810 Other 6,603 16,285 6,720 15,523 377,352 20,821 443,304 Total $ 52,438 $ 113,880 $ 49,716 $ 58,212 $ 404,628 $ 50,659 $ 729,533 Individual insurance As at December 31, 2016 Participating Non- participating Annuities Other insurance (1) Other (2) Capital (3) Total Assets Debt securities $ 27,473 $ 56,765 $ 26,331 $ 23,012 $ 9,965 $ 25,076 $ 168,622 Public equities 8,055 5,401 213 351 732 4,744 19,496 Mortgages 2,110 10,008 8,135 5,554 18,311 75 44,193 Private placements 3,277 10,823 7,096 7,070 1,272 191 29,729 Real estate 2,811 6,397 1,480 2,561 613 270 14,132 Other 6,187 16,846 8,555 16,042 377,000 19,879 444,509 Total $ 49,913 $ 106,240 $ 51,810 $ 54,590 $ 407,893 $ 50,235 $ 720,681 (1) Other insurance contract liabilities include group insurance and individual and group health including long-term care insurance. (2) Other liabilities are non-insurance (3) Capital is defined in note 14.
Summary of Potential Impact on Net Income Attributed to Shareholders Arising From Changes to Non-economic Assumptions	Potential impact on net income attributed to shareholders arising from changes to non-economic (1),(2) As at December 31, Decrease in net income 2017 2016 Policy related assumptions 2% adverse change in future mortality rates (3),(5) Products where an increase in rates increases insurance contract liabilities $ (400 ) $ (400 ) Products where a decrease in rates increases insurance contract liabilities (400 ) (500 ) 5% adverse change in future morbidity rates (4),(5) (3,900 ) (3,700 ) 10% adverse change in future termination rates (5) (2,000 ) (1,900 ) 5% increase in future expense levels (500 ) (500 ) (1) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018. (2) The participating policy funds are largely self-supporting and generate no material impact on net income attributed to shareholders as a result of changes in non-economic (3) An increase in mortality rates will generally increase policy liabilities for life insurance contracts whereas a decrease in mortality rates will generally increase policy liabilities for policies with longevity risk such as payout annuities. (4) No amounts related to morbidity risk are included for policies where the policy liability provides only for claims costs expected over a short period, generally less than one year, such as Group Life and Health. (5) The impacts of the sensitivities on long-term care for morbidity, mortality and lapse are assumed to be moderated by partial offsets from the Company’s ability to contractually raise premium rates in such events, subject to state regulatory approval.
Summary of Actuarial Methods and Assumptions	The 2017 full year review of actuarial methods and assumptions resulted in an increase in insurance and investment contract liabilities of $277, net of reinsurance, and a decrease in net income attributed to shareholders of $35 post-tax. post-tax For the year ended December 31, 2017 Change in gross Change in insurance (1) Change in net income attributed (post-tax) Mortality and morbidity updates $ (219 ) $ (254 ) $ 299 Lapses and policyholder behaviour 1,057 1,019 (783 ) Other updates ALDA and public equity investment return assumptions 1,403 1,296 (892 ) Corporate spread assumptions (554 ) (515 ) 344 Refinements to liability and tax cash flows (1,273 ) (1,049 ) 696 Other (90 ) (220 ) 301 Net impact $ 324 $ 277 $ (35) (1) The $277 increase in insurance and investment contract liabilities net of reinsurance, included an increase in net liabilities associated with participating insurance business resulting in a charge to net income attributed to participating policyholders of $88. The 2016 full year review of actuarial methods and assumptions resulted in an increase in insurance and investment contract liabilities of $655, net of reinsurance, and a decrease in net income attributed to shareholders of $453 post-tax. For the year ended December 31, 2016 Change in gross Change in insurance Change in net (post-tax) JH Long-Term Care triennial review $ 696 $ 696 $ (452 ) Mortality and morbidity updates (12 ) (53 ) 76 Lapses and policyholder behaviour U.S. Variable Annuities guaranteed minimum withdrawal benefit incidence and utilization (1,024 ) (1,024 ) 665 Other lapses and policyholder behaviour 516 431 (356 ) Economic reinvestment assumptions 459 443 (313 ) Other updates 719 162 (73 ) Net impact $ 1,354 $ 655 $ (453 )
Summary of Insurance Contract Liabilities, Payments Due by Period	Insurance contracts give rise to obligations fixed by agreement. As at December 31, 2017, the Company’s contractual obligations and commitments relating to insurance contracts are as follows. Payments due by period Less than 1 to 3 years 3 to 5 years Over 5 Total Insurance contract liabilities (1) $ 9,788 $ 11,236 $ 17,153 $ 703,877 $ 742,054 (1) Insurance contract liability cash flows include estimates related to the timing and payment of death and disability claims, policy surrenders, policy maturities, annuity payments, minimum guarantees on segregated fund products, policyholder dividends, commissions and premium taxes offset by contractual future premiums on in-force
Summary of Gross Claims and Benefits	The following table presents a breakdown of gross claims and benefits. For the years ended December 31, 2017 2016 Death, disability and other claims $ 14,871 $ 13,819 Maturity and surrender benefits 6,302 6,697 Annuity payments 4,470 4,310 Policyholder dividends and experience rating refunds 1,085 1,111 Net transfers from segregated funds (1,734 ) (878 ) Total $ 24,994 $ 25,059
Life insurance contracts [Member]
Summary of Change in Insurance Contract Liabilities	The change in insurance contract liabilities was a result of the following business activities and changes in actuarial estimates. For the year ended December 31, 2017 Net actuarial Other (1) Net Reinsurance Gross Balance, January 1 $ 251,738 $ 10,815 $ 262,553 $ 34,952 $ 297,505 New policies (2) 3,545 – 3,545 441 3,986 Normal in-force (2) 15,192 930 16,122 (3,097 ) 13,025 Changes in methods and assumptions (2) 305 (28 ) 277 47 324 Impact of U.S. Tax Reform (2),(3) 2,246 – 2,246 – 2,246 Increase due to decision to change the portfolio asset mix supporting legacy businesses (2),(4) 1,340 – 1,340 43 1,383 Impact of changes in foreign exchange rates (11,275 ) (562 ) (11,837 ) (2,027 ) (13,864 ) Balance, December 31 $ 263,091 $ 11,155 $ 274,246 $ 30,359 $ 304,605 For the year ended December 31, 2016 Net actuarial Other (1) Net Reinsurance Gross Balance, January 1 $ 239,812 $ 10,050 $ 249,862 $ 35,426 $ 285,288 New policies (5) 3,617 – 3,617 294 3,911 Normal in-force (5) 12,579 1,094 13,673 (405 ) 13,268 Changes in methods and assumptions (5) 709 (54 ) 655 699 1,354 Impact of changes in foreign exchange rates (4,979 ) (275 ) (5,254 ) (1,062 ) (6,316 ) Balance, December 31 $ 251,738 $ 10,815 $ 262,553 $ 34,952 $ 297,505 (1) Other insurance contract liabilities are comprised of benefits payable and provision for unreported claims and policyholder amounts on deposit. (2) In 2017, the $20,023 increase reported as the change in insurance contract liabilities on the Consolidated Statements of Income primarily consists of changes due to normal in-force (3) The impact of U.S. Tax Reform, which includes the lowering of the U.S. corporate tax rate from 35% to 21% and limits on the tax deductibility of reserves, resulted in a $2,246 pre-tax ($1,774 post-tax) increase in policy liabilities due to the impact of temporary tax timing and permanent tax rate differences on the cash flows available to satisfy policyholder obligations. The $472 deferred tax impact on this increase in policy liabilities, together with the impact of U.S. Tax Reform on the Company’s deferred tax assets and liabilities is included in note 6. (4) The decision to reduce the allocation to ALDA in the portfolio asset mix supporting the Company’s North American legacy businesses resulted in an increase in policy liabilities due to the impact on future expected investment income on assets supporting the policies. (5) In 2016, the $18,014 increase reported as the change in insurance contract liabilities on the Consolidated Statements of Income primarily consists of changes due to normal in-force

Investment Contract Liabiliti38

Investment Contract Liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Summary of Movement in Investment Contract Liabilities Measured at Fair Value	The following table presents movement in investment contract liabilities measured at fair value during the year. For the years ended December 31, 2017 2016 Balance, January 1 $ 631 $ 785 New policies 50 53 Changes in market conditions 76 (103 ) Redemptions, surrenders and maturities (72 ) (83 ) Impact of changes in foreign exchange rates (46 ) (21 ) Balance, December 31 $ 639 $ 631
Summary of Investment Contract Liabilities Measured at Amortized Cost and Fair Value Associated with these Contracts	Investment contract liabilities measured at amortized cost are shown below. The fair value associated with these contracts is also shown for comparative purposes. 2017 2016 As at December 31, Amortized cost Fair value Amortized cost Fair value U.S. fixed annuity products $ 1,282 $ 1,433 $ 1,412 $ 1,516 Canadian fixed annuity products 1,205 1,354 1,232 1,389 Investment contract liabilities $ 2,487 $ 2,787 $ 2,644 $ 2,905
Summary of Changes in Investment Contract Liabilities Measured at Amortized Cost	The changes in investment contract liabilities measured at amortized cost was a result of the following business activities. For the years ended December 31, 2017 2016 Balance, January 1 $ 2,644 $ 2,712 Policy deposits 68 112 Interest 100 100 Withdrawals (232 ) (235 ) Fees (1 ) (1 ) Other (1 ) 1 Impact of changes in foreign exchange rates (91 ) (45 ) Balance, December 31 $ 2,487 $ 2,644
Summary of Contractual Obligations and Commitments Relating to Investment Contracts	Investment contracts give rise to obligations fixed by agreement. As at December 31, 2017, the Company’s contractual obligations and commitments relating to investment contracts are as follows. Payments due by period Less than 1 to 3 years 3 to 5 years Over 5 Total Investment contract liabilities (1) $ 283 $ 536 $ 481 $ 3,944 $ 5,244 (1) Due to the nature of the products, the timing of net cash flows may be before contract maturity. Cash flows are undiscounted.

Risk Management (Tables)

Risk Management (Tables)	12 Months Ended
	Dec. 31, 2017
Summary of Gross Carrying Amount of Financial Instruments Subject to Credit Exposure	The following table presents the gross carrying amount of financial instruments subject to credit exposure, without considering any collateral held or other credit enhancements. As at December 31, 2017 2016 Debt securities FVTPL $ 147,024 $ 140,890 AFS 26,976 27,732 Mortgages 44,742 44,193 Private placements 32,132 29,729 Policy loans 5,808 6,041 Loans to Bank clients 1,737 1,745 Derivative assets 15,569 23,672 Accrued investment income 2,182 2,260 Reinsurance assets 30,359 34,952 Other financial assets 5,253 4,844 Total $ 311,782 $ 316,058
Summary of Credit Quality and Carrying Value of Commercial Mortgages and Private Placements	The following table presents the credit quality and carrying value of commercial mortgages and private placements. As at December 31, 2017 AAA AA A BBB BB B and lower Total Commercial mortgages Retail $ 110 $ 1,517 $ 4,363 $ 2,050 $ 44 $ 57 $ 8,141 Office 57 1,272 4,635 1,647 70 28 7,709 Multi-family residential 523 1,395 1,805 726 – – 4,449 Industrial 33 386 1,542 477 145 – 2,583 Other 362 331 1,012 973 14 – 2,692 Total commercial mortgages 1,085 4,901 13,357 5,873 273 85 25,574 Agricultural mortgages – 159 – 405 25 – 589 Private placements 1,038 4,246 11,978 13,160 717 993 32,132 Total $ 2,123 $ 9,306 $ 25,335 $ 19,438 $ 1,015 $ 1,078 $ 58,295 As at December 31, 2016 AAA AA A BBB BB B and lower Total Commercial mortgages Retail $ 97 $ 1,620 $ 4,391 $ 2,084 $ – $ 7 $ 8,199 Office 68 1,255 3,972 1,938 55 36 7,324 Multi-family residential 656 1,362 1,944 844 – – 4,806 Industrial 22 360 1,452 831 169 – 2,834 Other 428 261 1,323 493 60 – 2,565 Total commercial mortgages 1,271 4,858 13,082 6,190 284 43 25,728 Agricultural mortgages – 151 61 469 141 – 822 Private placements 1,086 4,466 10,671 11,606 936 964 29,729 Total $ 2,357 $ 9,475 $ 23,814 $ 18,265 $ 1,361 $ 1,007 $ 56,279
Summary of Carrying Value of Past Due but Not Impaired and Impaired Financial Assets	The following table presents the carrying value of past due but not impaired and impaired financial assets. Past due but not impaired As at December 31, 2017 Less than 90 days Total Total Debt securities FVTPL $ – $ – $ – $ 45 AFS 104 2 106 1 Private placements 363 – 363 40 Mortgages and loans to Bank clients 76 16 92 86 Other financial assets 46 26 72 1 Total $ 589 $ 44 $ 633 $ 173 Past due but not impaired As at December 31, 2016 Less than 90 days Total Total Debt securities FVTPL $ 90 $ – $ 90 $ 38 AFS 16 9 25 – Private placements 215 64 279 152 Mortgages and loans to Bank clients 50 20 70 33 Other financial assets 57 54 111 8 Total $ 428 $ 147 $ 575 $ 231
Summary of Company's Loans That are Considered Impaired	The following table summarizes the Company’s loans that are considered impaired. As at December 31, 2017 Gross Allowances Net carrying Private placements $ 79 $ 39 $ 40 Mortgages and loans to Bank clients 132 46 86 Total $ 211 $ 85 $ 126 As at December 31, 2016 Gross Allowances Net Private placements $ 244 $ 92 $ 152 Mortgages and loans to Bank clients 59 26 33 Total $ 303 $ 118 $ 185
Summary of Reconciliation of Allowance for Loan Losses	Allowance for loan losses 2017 2016 For the years ended December 31, Private Mortgages Total Private Mortgages Total Balance, January 1 $ 92 $ 26 $ 118 $ 72 $ 29 $ 101 Provisions 2 33 35 112 14 126 Recoveries (12 ) (1 ) (13 ) (62 ) (7 ) (69 ) Write-offs (1) (43 ) (12 ) (55 ) (30 ) (10 ) (40 ) Balance, December 31 $ 39 $ 46 $ 85 $ 92 $ 26 $ 118 (1) Includes disposals and impact of changes in foreign exchange rates.
Summary of Credit Default Swap Protection Sold	The following table presents details of the credit default swap protection sold by type of contract and external agency rating for the underlying reference security. As at December 31, 2017 Notional (2) Fair value Weighted (in years) (3) Single name CDSs (1) Corporate debt AAA $ 13 $ – 1 AA 35 1 2 A 408 10 3 BBB 150 3 2 Total single name CDSs $ 606 $ 14 3 Total CDS protection sold $ 606 $ 14 3 As at December 31, 2016 Notional (2) Fair value Weighted (in years) (3) Single name CDSs (1) Corporate debt AAA $ 13 $ – 2 AA 37 1 3 A 457 13 4 BBB 155 4 3 Total single name CDSs $ 662 $ 18 4 Total CDS protection sold $ 662 $ 18 4 (1) Rating agency designations are based on S&P where available followed by Moody’s, DBRS, and Fitch. If no rating is available from a rating agency, an internally developed rating is used. (2) Notional amounts represent the maximum future payments the Company would have to pay its counterparties assuming a default of the underlying credit and zero recovery on the underlying issuer obligation. (3) The weighted average maturity of the CDS is weighted based on notional amounts.
Summary of Effect of Conditional Master Netting and Similar Arrangements	The following table presents the effect of conditional master netting and similar arrangements. Similar arrangements may include global master repurchase agreements, global master securities lending agreements, and any related rights to financial collateral. Related amounts not set off in the As at December 31, 2017 Gross amounts of (1) Amounts subject to Financial and (2) Net amount (3) Net amounts Financial assets Derivative assets $ 16,204 $ (6,714 ) $ (9,395 ) $ 95 $ 95 Securities lending 1,563 – (1,563 ) – – Reverse repurchase agreements 230 (46 ) (184 ) – – Total financial assets $ 17,997 $ (6,760 ) $ (11,142 ) $ 95 $ 95 Financial liabilities Derivative liabilities $ (8,649 ) $ 6,714 $ 1,718 $ (217 ) $ (30 ) Repurchase agreements (228 ) 46 182 – – Total financial liabilities $ (8,877 ) $ 6,760 $ 1,900 $ (217 ) $ (30 ) Related amounts not set off in the As at December 31, 2016 Gross amounts of (1) Amounts subject to Financial and (2) Net amount (3) Net amounts Financial assets Derivative assets $ 24,603 $ (12,031 ) $ (12,382 ) $ 190 $ 189 Securities lending 1,956 – (1,956 ) – – Reverse repurchase agreements 250 – (250 ) – – Total financial assets $ 26,809 $ (12,031 ) $ (14,588 ) $ 190 $ 189 Financial liabilities Derivative liabilities $ (15,095 ) $ 12,031 $ 2,800 $ (264 ) $ (42 ) Repurchase agreements (255 ) – 255 – – Total financial liabilities $ (15,350) $ 12,031 $ 3,055 $ (264 ) $ (42 ) (1) Financial assets and liabilities include accrued interest of $638 and $827, respectively (2016 – $935 and $944, respectively). (2) Financial and cash collateral exclude over-collateralization. As at December 31, 2017, the Company was over-collateralized on OTC derivative assets, OTC derivative liabilities, securities lending and reverse purchase agreements and repurchase agreements in the amounts of $743, $382, $79 and $nil, respectively (2016 – $398, $494, $107 and $1, respectively). As at December 31, 2017, collateral pledged (received) does not include collateral-in-transit (3) Includes derivative contracts entered between the Company and its financing trusts which it does not consolidate. The Company does not exchange collateral on derivative contracts entered with these trusts. Refer to note 17.
Summary of the Effect of Unconditional Netting	The following table presents the effect of unconditional netting. As at December 31, 2017 Gross amounts of Amounts subject to Net amounts of Credit linked note (1) $ 461 $ (461 ) $ – Variable surplus note (461 ) 461 – (1) In 2017, the Company entered into a twenty-year financing facility with a third party, agreeing to issue variable surplus notes in exchange for an equal amount of credit linked notes. These notes are held to support John Hancock Life Insurance Company (USA) (“JHUSA”) excess reserves under U.S. National Association of Insurance Commissioners’ Model Regulation XXX. In certain scenarios, the credit linked note will be drawn upon by the Company which will issue fixed surplus notes equal to the draw payment received. The third party has agreed to fund any such payment under the credit-linked notes in return for a fee. As at December 31, 2017, the Company had no fixed surplus notes outstanding.
Schedule of Distribution of Debt Securities and Private Placements Portfolio by Sector and Industry	The following table presents debt securities and private placements portfolio by sector and industry. 2017 2016 As at December 31, Carrying value % of total Carrying value % of total Government and agency $ 71,888 35 $ 76,020 38 Utilities 40,568 20 37,561 19 Financial 27,923 13 25,027 13 Energy 16,428 8 15,775 8 Industrial 14,691 7 13,088 6 Consumer (non-cyclical) 14,009 7 12,440 6 Consumer (cyclical) 5,916 3 4,256 2 Securitized 3,577 2 3,514 2 Telecommunications 3,324 2 3,091 2 Basic materials 3,248 2 3,387 2 Technology 2,475 1 2,231 1 Media and internet 1,136 – 1,175 1 Diversified and miscellaneous 949 – 786 – Total $ 206,132 100 $ 198,351 100
Schedule of Geographic Concentration of Insurance and Investment Contract Liabilities, Including Embedded Derivatives	The geographic concentration of the Company’s insurance and investment contract liabilities, including embedded derivatives, is shown below. The disclosure is based on the countries in which the business is written. As at December 31, 2017 Gross liabilities Reinsurance Net liabilities U.S. and Canada $ 237,434 $ (30,225 ) $ 207,209 Asia and Other 70,521 (134 ) 70,387 Total $ 307,955 $ (30,359 ) $ 277,596 As at December 31, 2016 Gross liabilities Reinsurance Net liabilities U.S. and Canada $ 238,796 $ (34,987 ) $ 203,809 Asia and Other 62,322 35 62,357 Total $ 301,118 $ (34,952 ) $ 266,166
Asset classes and individual investment risks [Member]
Schedule of Risk Concentrations	As at December 31, 2017 2016 Debt securities and private placements rated as investment grade BBB or higher (1) 98% 97% Government debt securities as a per cent of total debt securities 39% 43% Government private placements as a per cent of total private placements 10% 10% Highest exposure to a single non-government $ 1,044 $ 1,010 Largest single issuer as a per cent of the total equity portfolio 2% 3% Income producing commercial office properties (2017 – 64% of real estate, 2016 – 65%) $ 8,836 $ 9,200 Largest concentration of mortgages and real estate (2) $ 14,779 $ 13,882 (1) Investment grade debt securities and private placements include 42% rated A, 16% rated AA and 17% rated AAA (2016 – 41%, 14% and 21%) investments based on external ratings where available. (2) Mortgages and real estate are diversified geographically and by property type.
Residential mortgages and loans to bank clients [Member]
Summary of Carrying Value of Residential Mortgages and Loans to Bank Clients	The following table presents the carrying value of residential mortgages and loans to Bank clients. 2017 2016 As at December 31, Insured Uninsured Total Insured Uninsured Total Residential mortgages Performing $ 7,256 $ 11,310 $ 18,566 $ 7,574 $ 10,050 $ 17,624 Non-performing (1) 4 9 13 6 13 19 Loans to Bank clients Performing n/a 1,734 1,734 n/a 1,743 1,743 Non-performing (1) n/a 3 3 n/a 2 2 Total $ 7,260 $ 13,056 $ 20,316 $ 7,580 $ 11,808 $ 19,388 (1) Non-performing

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Summary of Carrying Value of Long Term Debt Instruments	(a) Carrying value of long-term debt instruments As at December 31, Issue date Maturity date Par value 2017 2016 4.70% Senior notes (1),(3) June 23, 2016 June 23, 2046 US$ 1,000 $ 1,246 $ 1,333 5.375% Senior notes (2),(3) March 4, 2016 March 4, 2046 US$ 750 928 994 3.527% Senior notes (2),(3) December 2, 2016 December 2, 2026 US$ 270 338 361 4.150% Senior notes (2),(3) March 4, 2016 March 4, 2026 US$ 1,000 1,246 1,333 4.90% Senior notes (2),(3) September 17, 2010 September 17, 2020 US$ 500 626 669 7.768% Medium-term notes (4) April 8, 2009 April 8, 2019 $ 600 – 599 5.505% Medium-term notes (5) June 26, 2008 June 26, 2018 $ 400 400 400 Other notes payable (6) n/a n/a n/a 1 7 Total $ 4,785 $ 5,696 (1) MFC may redeem the notes in whole, but not in part, on June 23, 2021 and thereafter on every June 23, at a redemption price equal to par, together with accrued and unpaid interest. (2) MFC may redeem the senior notes in whole or in part, at any time, at a redemption price equal to the greater of par and a price based on the yield of a corresponding U.S. Treasury bond plus a specified number of basis points. The specified number of basis points is as follows: 5.375% – 40 bps, 3.527% – 20 bps, 4.150% – 35 bps, and 4.90% – 35 bps. (3) These U.S. dollar senior notes have been designated as hedges of the Company’s net investment in its U.S. operations which reduces the earnings volatility that would otherwise arise from the re-measurement (4) On October 6, 2017, MFC redeemed, prior to maturity, all of its outstanding 7.768% medium term notes due April 8, 2019. The early redemption premium of $44 before income taxes was recorded as interest expense. (5) MFC may redeem the medium-term notes in whole or in part, at any time, at a redemption price equal to the greater of par and a price based on the yield of a corresponding Government of Canada bond plus 39 basis points. (6) Other notes payable were substantially repaid during the year.
Aggregate Maturities of Long-term Debt	(c) Aggregate maturities of long-term debt As at December 31, 2017 2016 Less than one year $ 401 $ 7 One to two years – 400 Two to three years 626 599 Three to four years – 669 Four to five years – – Greater than five years 3,758 4,021 Total $ 4,785 $ 5,696

Capital Instruments (Tables)

Capital Instruments (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Schedule of Carrying Value of Capital Instruments	(a) Carrying value of capital instruments As at December 31, Issuance date Earliest par redemption Maturity date Par value 2017 2016 4.165% MLI Subordinated debentures (1) February 17, 2012 June 1, 2017 June 1, 2022 $ 500 $ – $ 499 3.938% MLI Subordinated debentures (2) September 21, 2012 September 21, 2017 September 21, 2022 $ 400 – 407 2.819% MLI Subordinated debentures (3) February 25, 2013 February 26, 2018 February 26, 2023 $ 200 200 200 2.926% MLI Subordinated debentures (3) November 29, 2013 November 29, 2018 November 29, 2023 $ 250 250 249 2.811% MLI Subordinated debentures (3) February 21, 2014 February 21, 2019 February 21, 2024 $ 500 499 499 7.535% MFCT II Senior debenture notes (4) July 10, 2009 December 31, 2019 December 31, 2108 $ 1,000 1,000 1,000 2.64% MLI Subordinated debentures (3) December 1, 2014 January 15, 2020 January 15, 2025 $ 500 499 499 2.10% MLI Subordinated debentures (3) March 10, 2015 June 1, 2020 June 1, 2025 $ 750 748 747 2.389% MLI Subordinated debentures (3) June 1, 2015 January 5, 2021 January 5, 2026 $ 350 349 349 3.85% MFC Subordinated notes (5) May 25, 2016 May 25, 2021 May 25, 2026 S$ 500 467 461 3.181% MLI Subordinated debentures (3) November 20, 2015 November 22, 2022 November 22, 2027 $ 1,000 996 996 3.049% MFC Subordinated debentures (6) August 18, 2017 August 20, 2024 August 20, 2029 $ 750 746 – 3.00% MFC Subordinated notes (5) November 21, 2017 November 21, 2024 November 21, 2024 S$ 500 467 – 4.061% MFC Subordinated notes (7) February 24, 2017 February 24, 2027 February 24, 2032 US$ 750 935 – 7.375% JHUSA Surplus notes (8) February 25, 1994 n/a February 15, 2024 US$ 450 584 627 JHFC Subordinated notes (9) December 14, 2006 n/a December 15, 2036 $ 650 647 647 Total $ 8,387 $ 7,180 (1) MLI redeemed in full the 4.165% subordinated debentures at par, on June 1, 2017, the earliest par redemption date. (2) MLI redeemed in full the 3.938% subordinated debentures, originally issued by Standard Life Assurance Company of Canada at par, on September 21, 2017, the earliest par redemption date. (3) Interest is fixed for the period up to the earliest par redemption date, thereafter the interest rate will reset to a floating rate equal to the 90-day (4) Issued by MLI to Manulife Financial Capital Trust II (MFCT II), a wholly owned unconsolidated related party to the Company. On the earliest par redemption date and on every fifth anniversary thereafter (each, a “Interest Reset Date”), the rate of interest will reset to equal the yield on 5-year (5) On the earliest par redemption date, the interest rate will reset to equal the 5-year (6) Interest is fixed for the period up to the earliest par redemption date, thereafter, the interest rate will reset to a floating rate equal to the 90-day (7) On the earliest par redemption date, the interest rate will reset to equal the 5-Year Mid-Swap (8) Issued by John Hancock Mutual Life Insurance Company, now John Hancock Life Insurance Company (U.S.A.). Any payment of interest or principal on the surplus notes requires prior approval from the Department of Insurance and Financial Services of the State of Michigan. The carrying value of the surplus notes reflects an unamortized fair value increment of US$23 (2016 – US$26), which arose as a result of the acquisition of John Hancock Financial Services, Inc. The amortization of the fair value adjustment is recorded in interest expense. (9) Issued by Manulife Holdings (Delaware) LLC (“MHDLL”), now John Hancock Financial Corporation (“JHFC”), a wholly owned subsidiary of MFC, to Manulife Finance (Delaware) LLC (“MFLLC”), a subsidiary of Manulife Finance (Delaware) L.P. (“MFLP”). MFLP and its subsidiaries are wholly owned unconsolidated related parties to the Company. The note bears interest at a floating rate equal to the 90-day

Share Capital and Earnings Pe42

Share Capital and Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2017
Summary of Additional Information on Preferred Shares Outstanding	The following table presents additional information on the preferred shares outstanding as at December 31, 2017. As at December 31, 2017 Issue date Annual (1) Earliest redemption (2) Number of (in millions) Face Net (3) Class A preferred shares Series 2 February 18, 2005 4.65% n/a 14 $ 350 $ 344 Series 3 January 3, 2006 4.50% n/a 12 300 294 Class 1 preferred shares Series 3 (4),(5) March 11, 2011 2.178% June 19, 2021 6 158 155 Series 4 June 20, 2016 floating (6) n/a 2 42 41 Series 5 (4),(5) December 6, 2011 3.891% December 19, 2021 8 200 195 Series 7 (4),(5),(7) February 22, 2012 4.312% March 19, 2022 10 250 244 Series 9 (4),(5),(8) May 24, 2012 4.351% September 19, 2022 10 250 244 Series 11 (4),(5) December 4, 2012 4.00% March 19, 2018 8 200 196 Series 13 (4),(5) June 21, 2013 3.80% September 19, 2018 8 200 196 Series 15 (4),(5) February 25, 2014 3.90% June 19, 2019 8 200 195 Series 17 (4),(5) August 15, 2014 3.90% December 19, 2019 14 350 343 Series 19 (4),(5) December 3, 2014 3.80% March 19, 2020 10 250 246 Series 21 (4),(5) February 25, 2016 5.60% June 19, 2021 17 425 417 Series 23 (4),(5) November 22, 2016 4.85% March 19, 2022 19 475 467 Total 146 $ 3,650 $ 3,577 (1) Holders of Class A and Class 1 preferred shares are entitled to receive non-cumulative (2) Redemption of all preferred shares is subject to regulatory approval. With the exception of Class A Series 2, Class A Series 3 and Class 1 Series 4 preferred shares, MFC may redeem each series, in whole or in part, at par, on the earliest redemption date or every five years thereafter. Class A Series 2 and Series 3 preferred shares are past their respective earliest redemption date and MFC may redeem these shares, in whole or in part, at par at any time, subject to regulatory approval, as noted. MFC may redeem the Class 1 Series 4, in whole or in part, at any time, at $25.00 per share if redeemed on June 19, 2021 and on June 19 every five years thereafter, or at $25.50 per share if redeemed on any other date after June 19, 2016, subject to regulatory approval, as noted. (3) Net of after-tax (4) On the earliest redemption date and every five years thereafter, the annual dividend rate will be reset to the five year Government of Canada bond yield plus a yield specified for each series. The specified yield for Class 1 shares is: Series 3 – 1.41%, Series 5 – 2.90%, Series 7 – 3.13%, Series 9 – 2.86%, Series 11 – 2.61%, Series 13 – 2.22%, Series 15 – 2.16%, Series 17 – 2.36%, Series 19 – 2.30%, Series 21 – 4.97% and Series 23 – 3.83%. (5) On the earliest redemption date and every five years thereafter, Class 1 preferred shares are convertible at the option of the holder into a new series that is one number higher than their existing series, and the holders are entitled to non-cumulative (6) The floating dividend rate for the Class 1 Shares Series 4 will equal the three month Government of Canada Treasury bill yield plus 1.41%. (7) MFC did not exercise its right to redeem all or any of the outstanding Class 1 Shares Series 7 on March 19, 2017 (the earliest redemption date). Dividend rate for Class 1 Shares Series 7 was reset as specified in footnote 4 above to an annual fixed rate of 4.312% for a five year period commencing on March 20, 2017. (8) MFC did not exercise its right to redeem all or any of the outstanding Class 1 Shares Series 9 on September 19, 2017 (the earliest redemption date). Dividend rate for Class 1 Shares Series 9 was reset as specified in footnote 4 above to an annual fixed rate of 4.351% for a five year period commencing on September 20, 2017.
Summary of Basic and Diluted Earnings Per Common Share	The following table presents basic and diluted earnings per common share of the Company. For the years ended December 31, 2017 2016 Basic earnings per common share $ 0.98 $ 1.42 Diluted earnings per common share 0.98 1.41
Summary of Reconciliation of Denominator (Number of Shares) in Calculation of Basic and Diluted Earnings Per Share	The following is a reconciliation of the denominator (number of shares) in the calculation of basic and diluted earnings per share. For the years ended December 31, 2017 2016 Weighted average number of common shares (in millions) 1,978 1,973 Dilutive stock-based awards (1) 8 4 Weighted average number of diluted common shares (in millions) 1,986 1,977 (1) The dilutive effect of stock-based awards was calculated using the treasury stock method. This method calculates the number of incremental shares by assuming the outstanding stock-based awards are (i) exercised and (ii) then reduced by the number of shares assumed to be repurchased from the issuance proceeds, using the average market price of MFC common shares for the year. Excluded from the calculation was a weighted average of 2 million (2016 – 14 million) anti-dilutive stock-based awards.
Summary of Dividends Payable on Non-cumulative Preferred Shares	The Board also declared dividends on the following non-cumulative Class A Shares Series 2 – $0.29063 per share Class 1 Shares Series 11 – $0.25 per share Class A Shares Series 3 – $0.28125 per share Class 1 Shares Series 13 – $0.2375 per share Class 1 Shares Series 3 – $0.136125 per share Class 1 Shares Series 15 – $0.24375 per share Class 1 Shares Series 4 – $0.141103 per share Class 1 Shares Series 17 – $0.24375 per share Class 1 Shares Series 5 – $0.243188 per share Class 1 Shares Series 19 – $0.2375 per share Class 1 Shares Series 7 – $0.2695 per share Class 1 Shares Series 21 – $0.35 per share Class 1 Shares Series 9 – $0.271938 per share Class 1 Shares Series 23 – $0.303125 per share
Preferred shares [Member]
Summary of Changes in Issued and Outstanding Shares	The changes in issued and outstanding preferred shares are as follows. 2017 2016 For the years ended December 31, Number of (in millions) Amount Number of (in millions) Amount Balance, January 1 146 $ 3,577 110 $ 2,693 Issued, Class 1 shares, Series 21 – – 17 425 Converted, Class 1 shares, Series 3 – – (2 ) (42 ) Issued, Class 1 shares, Series 4 – – 2 42 Issued, Class 1 shares, Series 23 – – 19 475 Issuance costs, net of tax – – – (16 ) Balance, December 31 146 $ 3,577 146 $ 3,577
Common shares [Member]
Summary of Changes in Issued and Outstanding Shares	The changes in common shares issued and outstanding are as follows. 2017 2016 For the years ended December 31, Number of (in millions) Amount Number of (in millions) Amount Balance, January 1 1,975 $ 22,865 1,972 $ 22,799 Issued on exercise of stock options and deferred share units 7 124 3 66 Total 1,982 $ 22,989 1,975 $ 22,865

Capital Management (Tables)

Capital Management (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Schedule of Consolidated Capital	Consolidated capital As at December 31, 2017 2016 Total equity $ 42,163 $ 42,823 Adjusted for AOCI loss on cash flow hedges (109 ) (232 ) Total equity excluding AOCI on cash flow hedges 42,272 43,055 Qualifying capital instruments 8,387 7,180 Total capital $ 50,659 $ 50,235

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Schedule of Options Outstanding	Options outstanding 2017 2016 For the years ended December 31, Number of options (in millions ) Weighted average exercise price Number of options (in millions ) Weighted average exercise price Outstanding, January 1 30 $ 19.80 30 $ 20.72 Granted 4 24.56 6 17.65 Exercised (7 ) 16.03 (3 ) 15.49 Expired (1 ) 39.47 (2 ) 32.92 Forfeited (1 ) 20.86 (1 ) 21.04 Outstanding, December 31 25 $ 20.45 30 $ 19.80 Exercisable, December 31 12 $ 19.93 18 $ 20.15
Schedule of Range of Exercise Prices of Outstanding Share Options	Options outstanding Options exercisable For the year ended December 31, 2017 Number of options (in millions ) Weighted average exercise price Weighted average remaining contractual life (in years) Number of options (in millions ) Weighted average exercise price Weighted average remaining contractual life (in years) $11.23 – $20.99 14 $ 17.08 4.91 9 $ 16.78 3.05 $21.00 – $29.99 10 $ 22.77 6.88 2 $ 21.40 3.77 $30.00 – $37.71 1 $ 37.71 0.14 1 $ 37.71 0.14 Total 25 $ 20.45 5.44 12 $ 19.93 2.87
Schedule of Deferred Share Units	For the years ended December 31, Number of DSUs (in thousands) 2017 2016 Outstanding, January 1 2,682 2,542 Issued 156 254 Reinvested 88 97 Redeemed (279 ) (184 ) Forfeitures and cancellations (2 ) (27 ) Outstanding, December 31 2,645 2,682

Employee Future Benefits (Table

Employee Future Benefits (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Summary of Pension and Retiree Welfare Plans	(c) Pension and retiree welfare plans Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 Changes in defined benefit obligation: Ending balance prior year $ 4,767 $ 4,823 $ 682 $ 713 Plan mergers (1) – 143 – – Current service cost 48 52 1 1 Past service cost – (57 ) – – Interest cost 182 196 26 28 Plan participants’ contributions 1 1 4 5 Actuarial losses (gains) due to: Experience 15 – (9 ) (2 ) Demographic assumption changes – (94 ) – (16 ) Economic assumption changes 214 116 41 20 Benefits paid (315 ) (314 ) (45 ) (50 ) Impact of changes in foreign exchange rates (206 ) (99 ) (35 ) (17 ) Defined benefit obligation, December 31 $ 4,706 $ 4,767 $ 665 $ 682 Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 Change in plan assets: Fair value of plan assets, ending balance prior year $ 4,277 $ 4,122 $ 603 $ 635 Plan mergers (1) – 129 – – Interest income 164 169 23 25 Employer contributions 85 106 12 – Plan participants’ contributions 1 1 4 5 Benefits paid (315 ) (314 ) (45 ) (50 ) Administration costs (5 ) (7 ) (2 ) (2 ) Actuarial gains (losses) 312 158 30 8 Impact of changes in foreign exchange rates (191 ) (87 ) (38 ) (18 ) Fair value of plan assets, December 31 $ 4,328 $ 4,277 $ 587 $ 603 (1) In Canada, two smaller pension plans were merged into the primary Manulife pension plan in 2016. Amounts shown represent the value of the defined benefit obligations and assets transferred from the smaller plans into the primary Manulife plan.
Summary of Amounts Recognized in Consolidated Statements of Financial Position	(d) Amounts recognized in the Consolidated Statements of Financial Position Pension plans Retiree welfare plans As at December 31, 2017 2016 2017 2016 Development of net defined benefit liability Defined benefit obligation $ 4,706 $ 4,767 $ 665 $ 682 Fair value of plan assets 4,328 4,277 587 603 Deficit 378 490 78 79 Effect of asset limit (1) – – – – Deficit and net defined benefit liability 378 490 78 79 Deficit is comprised of: Funded or partially funded plans (383 ) (292 ) (72 ) (63 ) Unfunded plans 761 782 150 142 Deficit and net defined benefit liability $ 378 $ 490 $ 78 $ 79 (1) No reconciliation has been provided for the effect of the asset limit since there was no effect in either year. For the funded pension plans, the present value of the economic benefits available in the form of reductions in future contributions to the plans is significantly greater than the surplus that would be expected to develop.
Summary of Disaggregation of Defined Benefit Obligation	(e) Disaggregation of defined benefit obligation U.S. plans Canadian plans Pension plans Retiree welfare plans Pension plans Retiree welfare plans As at December 31, 2017 2016 2017 2016 2017 2016 2017 2016 Active members $ 592 $ 637 $ 34 $ 38 $ 393 $ 403 $ 20 $ 20 Inactive and retired members 2,434 2,528 481 502 1,287 1,199 130 122 Total $ 3,026 $ 3,165 $ 515 $ 540 $ 1,680 $ 1,602 $ 150 $ 142
Summary of Major Categories of Plan Assets and Actual Per Cent Allocation to Each Category	(f) Fair value measurements The major categories of plan assets and the actual per cent allocation to each category are as follows. U.S. plans (1) Canadian plans (2) Pension plans Retiree welfare plans Pension plans Retiree welfare plans As at December 31, 2017 Fair value % of total Fair value % of total Fair value % of total Fair value % of total Cash and cash equivalents $ 33 1% $ 33 6% $ 5 1% $ – – Equity securities (3) 695 24% 45 8% 212 15% – – Debt securities 1,979 67% 502 85% 1,165 84% – – Other investments (4) 235 8% 7 1% 4 0% – – Total $ 2,942 100% $ 587 100% $ 1,386 100% $ – – U.S. plans (1) Canadian plans (2) Pension plans Retiree welfare plans Pension plans Retiree welfare plans As at December 31, 2016 Fair value % of total Fair value % of total Fair value % of total Fair value % of total Cash and cash equivalents $ 15 1% $ 19 3% $ 21 2% $ – – Equity securities (3) 825 28% 150 25% 460 34% – – Debt securities 1,834 62% 427 71% 809 60% – – Other investments (4) 259 9% 7 1% 54 4% – – Total $ 2,933 100% $ 603 100% $ 1,344 100% $ – – (1) All the U.S. pension and retiree welfare plan assets have daily quoted prices in active markets, except for the private equity, timber and agriculture assets. In the aggregate, the latter assets represent approximately 6% of all U.S. pension and retiree welfare plan assets as at December 31, 2017 (2016 – 6%). (2) All the Canadian pension plan assets have daily quoted prices in active markets, except for the group annuity contract assets that represent approximately 0.3% of all Canadian pension plan assets as at December 31, 2017 (2016 – 3%, including real estate and mortgage assets that were sold in 2017). (3) Equity securities include direct investments in MFC common shares of $1.3 (2016 – $1.1) in the U.S. retiree welfare plan and $nil (2016 – $nil) in Canada. (4) Other U.S. plan assets include investment in private equity, timberland and agriculture, and managed futures in 2017. Other Canadian pension plan assets include investment in the group annuity contract.
Summary of Components of Net Benefit Cost for Pension Plans and Retiree Welfare Plans	(g) Net benefit cost recognized in the Consolidated Statements of Income Components of the net benefit cost for the pension plans and retiree welfare plans were as follows. Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 Defined benefit current service cost (1) $ 48 $ 52 $ 1 $ 1 Defined benefit administrative expenses 5 7 2 2 Past service cost – plan amendments (2) – (57 ) – – Service cost 53 2 3 3 Interest on net defined benefit (asset) liability (1) 18 27 3 3 Defined benefit cost 71 29 6 6 Defined contribution cost 75 69 – – Net benefit cost $ 146 $ 98 $ 6 $ 6 (1) Includes service and interest costs for the two plans merged into the primary Manulife plan after August 1, 2016. (2) Past service cost in 2016 includes ($55) reflecting the removal of the advance provision made in prior years for non-contractual, ad-hoc
Summary of Re-measurement Effects Recognized in Other Comprehensive Income	(h) Re-measurement Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 Actuarial gains (losses) on defined benefit obligations: Experience $ (15 ) $ – $ 9 $ 2 Demographic assumption changes – 94 – 16 Economic assumption changes (214 ) (116 ) (41 ) (20 ) Return on plan assets greater (less) than discount rate 312 158 30 8 Total re-measurement $ 83 $ 136 $ (2 ) $ 6
Summary of Key Assumptions Used by to Determine Defined Benefit Obligation and Net Benefit Cost for Defined Benefit Pension Plans and Retiree Welfare Plans	(i) Assumptions The key assumptions used by the Company to determine the defined benefit obligation and net benefit cost for the defined benefit pension plans and retiree welfare plans were as follows. U.S. Plans Canadian Plans Pension plans Retiree welfare plans Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 2017 2016 2017 2016 To determine the defined benefit obligation at end of year (1) : Discount rate 3.6% 4.1% 3.6% 4.1% 3.5% 3.9% 3.6% 4.0% Initial health care cost trend rate (2) n/a n/a 8.5% 8.8% n/a n/a 5.9% 6.0% To determine the defined benefit cost for the year (1) Discount rate 4.1% 4.4% 4.1% 4.3% 3.9% 4.1% 4.0% 4.1% Initial health care cost trend rate (2) n/a n/a 8.8% 9.0% n/a n/a 6.0% 6.1% (1) Inflation and salary increase assumptions are not shown as they do not materially affect obligations and cost. (2) The health care cost trend rate used to measure the U.S. based retiree welfare obligation was 8.5% grading to 5.0% for 2032 and years thereafter (2016 – 8.8% grading to 5.0% for 2032) and to measure the net benefit cost was 8.8% grading to 5.0% for 2032 and years thereafter (2016 – 9.0% grading to 5.0% for 2032). In Canada, the rate used to measure the retiree welfare obligation was 5.9% grading to 4.8% for 2026 and years thereafter (2016 – 6.0% grading to 4.8% for 2026) and to measure the net benefit cost was 6.0% grading to 4.8% for 2026 and years thereafter (2016 – 6.1% grading to 4.8% for 2026).
Summary of Life Expectancies Underlying Values of Obligations in Defined Benefit Pension and Retiree Welfare Plans	Assumptions regarding future mortality are based on published statistics and mortality tables. The current life expectancies underlying the values of the obligations in the defined benefit pension and retiree welfare plans are as follows. As at December 31, 2017 U.S. Canada Life expectancy (in years) for those currently age 65 Males 22.4 22.8 Females 23.9 24.7 Life expectancy (in years) at age 65 for those currently age 45 Males 24.0 23.8 Females 25.5 25.6
Summary of Potential Impact on Obligations Arising From Changes in Key Assumptions	(j) Sensitivity of assumptions on obligation Assumptions used can have a significant effect on the obligations reported for defined benefit pension and retiree welfare plans. The potential impact on the obligations arising from changes in the key assumptions is set out in the following table. The sensitivities assume all other assumptions are held constant. In actuality, inter-relationships with other assumptions may exist. As at December 31, 2017 Pension plans Retiree welfare plans Discount rate: Impact of a 1% increase $ (451 ) $ (67 ) Impact of a 1% decrease 536 82 Health care cost trend rate: Impact of a 1% increase n/a 24 Impact of a 1% decrease n/a (21 ) Mortality rates (1) Impact of a 10% decrease 119 16 (1) If the actuarial estimates of mortality are adjusted in the future to reflect unexpected decreases in mortality, the effect of a 10% decrease in mortality rates at each future age would be an increase in life expectancy at age 65 of 0.9 years for U.S. males and females and 0.8 years for Canadian males and females.
Summary of Weighted Average Duration of the Defined Benefit Obligations	(k) Maturity profile The weighted average duration (in years) of the defined benefit obligations is as follows. Pension plans Retiree welfare plans As at December 31, 2017 2016 2017 2016 U.S. plans 9.5 9.2 9.8 9.1 Canadian plans 12.8 12.7 14.2 14.2
Summary of Cash Payments	(l) Cash flows – contributions Total cash payments for all employee future benefits, comprised of cash contributed by the Company to funded defined benefit pension and retiree welfare plans, cash payments directly to beneficiaries in respect of unfunded pension and retiree welfare plans, and cash contributed to defined contribution pension plans, were as follows. Pension plans Retiree welfare plans For the years ended December 31, 2017 2016 2017 2016 Defined benefit plans $ 85 $ 106 $ 12 $ – Defined contribution plans 75 69 – – Total $ 160 $ 175 $ 12 $ –

Interests in Structured Entit46

Interests in Structured Entities (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Schedule Investment and Maximum Exposure to Loss Related to Significant Unconsolidated Structured Entities	The following table presents the Company’s investment and maximum exposure to loss from significant unconsolidated investment SEs, some of which are sponsored by the Company. The Company does not provide guarantees to other parties against the risk of loss from these SEs. Company’s investment (1) Company’s maximum exposure to loss (2) As at December 31, 2017 2016 2017 2016 Leveraged leases (3) $ 3,273 $ 3,369 $ 3,273 $ 3,369 Timberland companies (4) 736 736 786 749 Real estate companies (5) 361 327 361 327 Total $ 4,370 $ 4,432 $ 4,420 $ 4,445 (1) The Company’s investments in these unconsolidated SEs are included in invested assets and the Company’s returns from them are included in net investment income and AOCI. (2) The Company’s maximum exposure to loss from each SE is limited to amounts invested in each, plus unfunded capital commitments, if any. The Company’s investment commitments are disclosed in note 18. The maximum loss is expected to occur only upon the entity’s bankruptcy/liquidation, or as a result of a natural disaster in the case of the timber companies. (3) These entities are statutory business trusts which use capital provided by the Company and senior debt provided by other parties to finance the acquisition of assets. These assets are leased to third-party lessees under long-term leases. The Company owns equity capital in these business trusts. The Company does not consolidate any of the trusts that are party to the lease arrangements because the Company does not have decision-making power over them. (4) These entities own and operate timberlands. The Company invests in their equity and debt. The Company’s returns include investment income, investment advisory fees, forestry management fees and performance advisory fees. The Company does not control these entities because it either does not have the power to govern their financial and operating policies or does not have significant variable returns from them, or both. (5) These entities, which include the Manulife U.S. REIT, own and manage commercial real estate. The Company invests in their equity. The Company’s returns include investment income, investment management fees, property management fees, acquisition/disposition fees, and leasing fees. The Company does not control these entities because it either does not have the power to govern their financial and operating policies or does not have significant variable returns from them, or both.
Schedule of Interests and Maximum Exposure to Loss From Significant Unconsolidated Financing Structured Entities	The following table presents the Company’s interests and maximum exposure to loss from significant unconsolidated financing SEs. Company’s interests (1) As at December 31, 2017 2016 Manulife Finance (Delaware), L.P. (2) $ 835 $ 876 Manulife Financial Capital Trust II (3) 1,000 1,000 Total $ 1,835 $ 1,876 (1) The Company’s interests include amounts borrowed from the SEs and the Company’s investment in their subordinated capital, and foreign currency and interest swaps with them, if any. (2) This entity is a wholly-owned partnership used to facilitate the Company’s financing. Refer to notes 12 and 18. (3) This entity is an open-ended trust that is used to facilitate the Company’s financing. Refer to note 12.
Schedule of Securitized Holdings by Type and Asset Quality	The following table presents investments in securitized holdings by the type and asset quality. 2017 2016 As at December 31, CMBS RMBS ABS Total Total AAA $ 1,390 $ 45 $ 1,068 $ 2,503 $ 2,269 AA – – 401 401 393 A 16 – 488 504 592 BBB – – 142 142 221 BB and below 12 – 14 26 38 Total company exposure $ 1,418 $ 45 $ 2,113 $ 3,576 $ 3,513

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [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, 2017 MFC MLI (1) Other Consolidating Total MFLP Total revenue $ 182 $ 58,445 $ 270 $ (574) $ 58,323 $ 29 Net income (loss) attributed to shareholders 2,104 2,467 (257 ) (2,210) 2,104 6 For the year ended December 31, 2016 MFC MLI (1) Other Consolidating Total MFLP Total revenue $ 518 $ 53,219 $ 377 $ (777 ) $ 53,337 $ 44 Net income (loss) attributed to shareholders 2,929 2,916 (359 ) (2,557 ) 2,929 (1 ) (1) During 2017, MLI acquired John Hancock Reassurance Company Ltd. (“JHRECO”) from MFC. MLI has restated its historical IFRS financial statements to reflect the combined accounts of MLI and JHRECO on a retroactive basis.
Summary of Condensed Consolidated Statements of Financial Position for MFC and MFLP	Condensed Consolidated Statements of Financial Position As at December 31, 2017 MFC MLI (1) Other Consolidating Total MFLP Invested assets $ 21 $ 334,191 $ 10 $ – $ 334,222 $ 5 Total other assets 48,688 71,180 4 (48,868 ) 71,004 1,033 Segregated funds net assets – 324,307 – – 324,307 – Insurance contract liabilities – 304,605 – – 304,605 – Investment contract liabilities – 3,126 – – 3,126 – Segregated funds net liabilities – 324,307 – – 324,307 – Total other liabilities 7,696 48,145 – (509 ) 55,332 831 As at December 31, 2016 MFC MLI (1) Other Consolidating Total MFLP Invested assets $ 161 $ 321,698 $ 10 $ – $ 321,869 $ 6 Total other assets 48,073 83,607 4 (48,049 ) 83,635 1,085 Segregated funds net assets – 315,177 – – 315,177 – Insurance contract liabilities – 297,505 – – 297,505 – Investment contract liabilities – 3,275 – – 3,275 – Segregated funds net liabilities – 315,177 – – 315,177 – Total other liabilities 6,402 55,808 – (309 ) 61,901 882 (1) During 2017, MLI acquired John Hancock Reassurance Company Ltd. (“JHRECO”) from MFC. MLI has restated its historical IFRS financial statements to reflect the combined accounts of MLI and JHRECO on a retroactive basis.
Schedule of Pledged Assets	The amounts pledged were as follows. 2017 2016 As at December 31, Debt securities Other Debt securities Other In respect of: Derivatives $ 3,189 $ 44 $ 4,678 $ 99 Regulatory requirements 398 86 409 78 Real estate – 2 – 22 Repurchase agreements 228 – 255 – Non-registered – 412 – 464 Other 3 271 3 174 Total $ 3,818 $ 815 $ 5,345 $ 837

Segmented Information (Tables)

Segmented Information (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Summary of Results by Segments	Effective January 1, 2017, the operations of Manulife Asset Management are being reflected in the respective Divisional results. These operations were reported in the Corporate and Other division for 2016. By segment As at and for the year ended December 31, 2017 Asia Division Canadian U.S. Division Corporate Total Revenue Premium income Life and health insurance $ 13,145 $ 4,322 $ 6,778 $ 110 $ 24,355 Annuities and pensions 2,568 443 844 – 3,855 Net premium income 15,713 4,765 7,622 110 28,210 Net investment income 4,080 4,573 10,649 65 19,367 Other revenue 1,739 3,517 6,166 (676 ) 10,746 Total revenue 21,532 12,855 24,437 (501 ) 58,323 Contract benefits and expenses Life and health insurance 11,961 5,644 16,464 461 34,530 Annuities and pensions 2,051 1,813 907 – 4,771 Net benefits and claims 14,012 7,457 17,371 461 39,301 Interest expense 164 307 37 631 1,139 Other expenses 4,937 4,435 6,050 (40 ) 15,382 Total contract benefits and expenses 19,113 12,199 23,458 1,052 55,822 Income (loss) before income taxes 2,419 656 979 (1,553 ) 2,501 Income tax recovery (expense) (403 ) 95 (1,275 ) 1,344 (239 ) Net income (loss) 2,016 751 (296 ) (209 ) 2,262 Less net income (loss) attributed to: Non-controlling 197 – – (3 ) 194 Participating policyholders (30 ) (6 ) – – (36 ) Net income (loss) attributed to shareholders $ 1,849 $ 757 $ (296 ) $ (206 ) $ 2,104 Total assets $ 105,233 $ 220,755 $ 383,528 $ 20,017 $ 729,533 As at and for the year ended December 31, 2016 Asia Division Canadian U.S. Division Corporate Total Revenue Premium income Life and health insurance $ 12,111 $ 4,366 $ 6,703 $ 88 $ 23,268 Annuities and pensions 3,474 606 284 – 4,364 Net premium income 15,585 4,972 6,987 88 27,632 Net investment income 2,143 4,255 7,980 146 14,524 Other revenue 1,566 3,480 5,591 544 11,181 Total revenue 19,294 12,707 20,558 778 53,337 Contract benefits and expenses Life and health insurance 10,435 5,207 10,829 806 27,277 Annuities and pensions 2,913 1,179 2,765 – 6,857 Net benefits and claims 13,348 6,386 13,594 806 34,134 Interest expense 146 305 45 517 1,013 Other expenses 4,241 4,279 5,619 722 14,861 Total contract benefits and expenses 17,735 10,970 19,258 2,045 50,008 Income (loss) before income taxes 1,559 1,737 1,300 (1,267 ) 3,329 Income tax recovery (expense) (243 ) (250 ) (166 ) 463 (196 ) Net income (loss) 1,316 1,487 1,134 (804 ) 3,133 Less net income (loss) attributed to: Non-controlling 115 – – 28 143 Participating policyholders 60 1 – – 61 Net income (loss) attributed to shareholders $ 1,141 $ 1,486 $ 1,134 $ (832 ) $ 2,929 Total assets $ 92,843 $ 214,820 $ 386,619 $ 26,399 $ 720,681
Summary of Results by Geographic Location	The results of the Company’s business segments differ from geographic segment primarily due to the allocation of Company’s Corporate and Other division into the geographic segments to which its businesses relate. By geographic location As at and for the year ended December 31, 2017 Asia Canada U.S. Other Total Revenue Premium income Life and health insurance $ 13,215 $ 3,894 $ 6,780 $ 466 $ 24,355 Annuities and pensions 2,568 443 844 – 3,855 Net premium income 15,783 4,337 7,624 466 28,210 Net investment income 4,258 4,642 10,407 60 19,367 Other revenue 1,632 3,187 5,911 16 10,746 Total revenue $ 21,673 $ 12,166 $ 23,942 $ 542 $ 58,323 As at and for the year ended December 31, 2016 Asia Canada U.S. Other Total Revenue Premium income Life and health insurance $ 12,184 $ 3,909 $ 6,705 $ 470 $ 23,268 Annuities and pensions 3,474 606 284 – 4,364 Net premium income 15,658 4,515 6,989 470 27,632 Net investment income 2,368 4,096 7,880 180 14,524 Other revenue 1,608 3,443 6,105 25 11,181 Total revenue $ 19,634 $ 12,054 $ 20,974 $ 675 $ 53,337

Related Parties (Tables)

Related Parties (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Summary of Compensation of Key Management Personnel	Acordingly, the summary of compensation of key management personnel is as follows. For the years ended December 31, 2017 2016 Short-term employee benefits $ 44 $ 33 Post-employment benefits 3 3 Share-based payments 43 44 Termination benefits 6 4 Other long-term benefits 2 3 Total $ 98 $ 87

Subsidiaries (Tables)

Subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Summary of Directly and Indirectly Held Major Operating Subsidiaries	The following is a list of Manulife’s directly and indirectly held major operating subsidiaries. As at December 31, 2017 (100% owned unless otherwise noted in brackets beside company name) Address Description The Manufacturers Life Insurance Company Toronto, Canada Leading Canadian-based financial services company that offers a diverse range of financial protection products and wealth management services Manulife Holdings (Alberta) Limited Calgary, Canada Holding company John Hancock Financial Corporation Wilmington, Delaware, U.S.A. Holding company The Manufacturers Investment Corporation Michigan, U.S.A. Holding company John Hancock Reassurance Company Ltd. U.S.A. Michigan, U.S.A. Captive insurance subsidiary that provides life, annuity and long-term care reinsurance to affiliates John Hancock Life Insurance Company (U.S.A.) Michigan, U.S.A. U.S. life insurance company licensed in all states, except New York John Hancock Subsidiaries LLC Wilmington, Delaware, U.S.A. Holding company John Hancock Financial Network, Inc. Boston, Massachusetts, U.S.A. Financial services distribution organization John Hancock Advisers, LLC Boston, Massachusetts, U.S.A. Investment advisor John Hancock Funds, LLC Boston, Massachusetts, U.S.A. Broker-dealer Manulife Asset Management (US) LLC Wilmington, Delaware, U.S.A. Asset management company Hancock Natural Resource Group, Inc. Boston, Massachusetts, U.S.A. Manager of globally diversified timberland and agricultural portfolios John Hancock Life Insurance Company of New York New York, U.S.A. U.S. life insurance company licensed in New York John Hancock Investment Management Services, LLC Boston, Massachusetts, U.S.A. Investment advisor John Hancock Life & Health Insurance Company Boston, Massachusetts, U.S.A. U.S. life insurance company licensed in all states John Hancock Distributors LLC Wilmington, Delaware, U.S.A. Broker-dealer John Hancock Insurance Agency, Inc. Wilmington, Delaware, U.S.A. Insurance agency Manulife Reinsurance Limited Hamilton, Bermuda Provides life and financial reinsurance to affiliates Manulife Reinsurance (Bermuda) Limited Hamilton, Bermuda Provides life and annuity reinsurance to affiliates Manulife Bank of Canada Waterloo, Canada Provides integrated banking products and service options not available from an insurance company Manulife Asset Management Holdings (Canada) Inc. Toronto, Canada Holding company Manulife Asset Management Limited Toronto, Canada Provides investment counseling, portfolio and mutual fund management in Canada First North American Insurance Company Toronto, Canada Property and casualty insurance company NAL Resources Management Limited Calgary, Canada Management company for oil and gas properties Manulife Resources Limited Calgary, Canada Holds oil and gas properties Manulife Property Limited Partnership Toronto, Canada Holds oil and gas royalties Manulife Property Limited Partnership II Toronto, Canada Holds oil and gas royalties and foreign bonds and equities Manulife Western Holdings Limited Partnership Calgary, Canada Holds oil and gas properties Manulife Securities Investment Services Inc. Oakville, Canada Mutual fund dealer for Canadian operations Manulife Holdings (Bermuda) Limited Hamilton, Bermuda Holding company Manufacturers P & C Limited St. Michael, Barbados Provides property and casualty reinsurance Manulife Financial Asia Limited Hong Kong, China Holding company Manulife (Cambodia) PLC Phnom Penh, Cambodia Life insurance company Manufacturers Life Reinsurance Limited St. Michael, Barbados Provides life and annuity reinsurance to affiliates Manulife (Vietnam) Limited Ho Chi Minh City, Vietnam Life insurance company Manulife Asset Management (Vietnam) Company Limited Ho Chi Minh City, Vietnam Fund management company Manulife International Holdings Limited Hong Kong, China Holding company Manulife (International) Limited Hong Kong, China Life insurance company Manulife-Sinochem Life Insurance Co. Ltd. (51%) Shanghai, China Life insurance company Manulife Asset Management International Holdings Limited Hong Kong, China Holding company Manulife Asset Management (Hong Kong) Limited Hong Kong, China Investment management and advisory company marketing mutual funds Manulife Asset Management (Taiwan) Co., Ltd. Taipei, Taiwan Asset management company Manulife Life Insurance Company Tokyo, Japan Life insurance company Manulife Asset Management (Japan) Limited Tokyo, Japan Investment management and advisory company and mutual fund business Manulife Insurance (Thailand) Public Company Limited (92.1%) (1) Bangkok, Thailand Life insurance company Manulife Asset Management (Thailand) Company Limited (95.3%) (1) Bangkok, Thailand Investment management company Manulife Holdings Berhad (59.5%) Kuala Lumpur, Malaysia Holding company Manulife Insurance Berhad (59.5%) Kuala Lumpur, Malaysia Life insurance company Manulife Asset Management Services Berhad (59.5%) Kuala Lumpur, Malaysia Asset management company Manulife (Singapore) Pte. Ltd. Singapore Life insurance company Manulife Asset Management (Singapore) Pte. Ltd. Singapore Asset management company The Manufacturers Life Insurance Co. (Phils.), Inc. Makati City, Philippines Life insurance company Manulife Chinabank Life Assurance Corporation (60%) Makati City, Philippines Life insurance company PT Asuransi Jiwa Manulife Indonesia Jakarta, Indonesia Life insurance company PT Manulife Aset Manajemen Indonesia Jakarta, Indonesia Investment management company marketing mutual funds and discretionary funds Manulife Asset Management (Europe) Limited London, England Investment management company for Manulife Financial’s international funds Manulife Assurance Company of Canada Toronto, Canada Life insurance company EIS Services (Bermuda) Limited Hamilton, Bermuda Investment holding company Berkshire Insurance Services Inc. Toronto, Canada Investment holding company JH Investments (Delaware) LLC Boston, Massachusetts, U.S.A. Investment holding company Manulife Securities Incorporated Oakville, Canada Investment dealer Manulife Asset Management (North America) Limited Toronto, Canada Investment advisor Regional Power Inc. Mississauga, Canada Developer and operator of hydro-electric power projects (1) MFC voting rights percentages are the same as the ownership percentages except for Manulife Insurance (Thailand) Public Company Limited and Manulife Asset Management (Thailand) Company Limited where MFC’s voting rights are 98.1% and 98.9%, respectively.

Segregated Funds (Tables)

Segregated Funds (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Summary of Composition of Net Assets by Categories of Segregated Funds	The composition of net assets by categories of segregated funds was within the following ranges for the years ended December 31, 2017 and 2016. Ranges in per cent Type of fund 2017 2016 Money market funds 2% to 3% 2% to 3% Fixed income funds 14% to 15% 14% to 15% Balanced funds 22% to 29% 22% to 24% Equity funds 55% to 60% 59% to 61%
Summary of Composition of Segregated Funds Net Assets	The carrying value and change in segregated funds net assets are as follows. Segregated funds net assets As at December 31, 2017 2016 Investments at market value Cash and short-term securities $ 4,756 $ 4,524 Debt securities 15,472 15,651 Equities 12,624 12,458 Mutual funds 288,007 278,966 Other investments 4,514 4,552 Accrued investment income 201 201 Other assets and liabilities, net (766 ) (644 ) Total segregated funds net assets $ 324,808 $ 315,708 Composition of segregated funds net assets Held by policyholders $ 324,307 $ 315,177 Held by the Company 501 531 Total segregated funds net assets $ 324,808 $ 315,708
Summary of Changes in Segregated Funds Net Assets	Changes in segregated funds net assets For the years ended December 31, 2017 2016 Net policyholder cash flow Deposits from policyholders $ 34,776 $ 33,130 Net transfers to general fund (1,734 ) (878 ) Payments to policyholders (45,970 ) (39,731 ) (12,928 ) (7,479 ) Investment related Interest and dividends 16,930 15,736 Net realized and unrealized investment gains 24,384 4,097 41,314 19,833 Other Management and administration fees (4,496 ) (4,386 ) Impact of changes in foreign exchange rates (14,790 ) (6,007 ) (19,286 ) (10,393 ) Net additions 9,100 1,961 Segregated funds net assets, beginning of year 315,708 313,747 Segregated funds net assets, end of year $ 324,808 $ 315,708

Information Provided in Conne52

Information Provided in Connection with Investments in Deferred Annuity Contracts andSignatureNotes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.) (Tables)	12 Months Ended
	Dec. 31, 2017
Text block1 [abstract]
Condensed Consolidated Statement of Financial Position	Condensed Consolidated Statement of Financial Position As at December 31, 2017 MFC JHUSA Other Consolidation Consolidated Assets Invested assets $ 21 $ 108,144 $ 226,421 $ (364 ) $ 334,222 Investments in unconsolidated subsidiaries 48,374 6,509 14,999 (69,882 ) – Reinsurance assets – 49,927 8,281 (27,849 ) 30,359 Other assets 314 18,678 40,715 (19,062 ) 40,645 Segregated funds net assets – 176,139 149,812 (1,644 ) 324,307 Total assets $ 48,709 $ 359,397 $ 440,228 $ (118,801 ) $ 729,533 Liabilities and equity Insurance contract liabilities $ – $ 147,155 $ 185,884 $ (28,434 ) $ 304,605 Investment contract liabilities – 1,130 1,998 (2 ) 3,126 Other liabilities 297 19,399 41,394 (18,930 ) 42,160 Long-term debt 4,784 – 1 – 4,785 Capital instruments 2,615 584 5,188 – 8,387 Segregated funds net liabilities – 176,139 149,812 (1,644 ) 324,307 Shareholders’ equity 41,013 14,990 54,801 (69,791 ) 41,013 Participating policyholders’ equity – – 221 – 221 Non-controlling – – 929 – 929 Total liabilities and equity $ 48,709 $ 359,397 $ 440,228 $ (118,801 ) $ 729,533 Condensed Consolidated Statement of Financial Position As at December 31, 2016 MFC JHUSA Other Consolidation Consolidated Assets Invested assets $ 161 $ 109,063 $ 213,043 $ (398 ) $ 321,869 Investments in unconsolidated subsidiaries 47,758 6,457 17,504 (71,719 ) – Reinsurance assets – 51,537 10,069 (26,654 ) 34,952 Other assets 315 28,718 43,931 (24,281 ) 48,683 Segregated funds net assets – 174,917 142,400 (2,140 ) 315,177 Total assets $ 48,234 $ 370,692 $ 426,947 $ (125,192 ) $ 720,681 Liabilities and equity Insurance contract liabilities $ – $ 147,504 $ 177,524 $ (27,523 ) $ 297,505 Investment contract liabilities – 1,251 2,027 (3 ) 3,275 Other liabilities 252 28,892 43,994 (24,113 ) 49,025 Long-term debt 5,689 – 7 – 5,696 Capital instruments 461 627 6,092 – 7,180 Segregated funds net liabilities – 174,917 142,400 (2,140 ) 315,177 Shareholders’ equity 41,832 17,501 53,912 (71,413 ) 41,832 Participating policyholders’ equity – – 248 – 248 Non-controlling – – 743 – 743 Total liabilities and equity $ 48,234 $ 370,692 $ 426,947 $ (125,192 ) $ 720,681
Condensed Consolidated Statement of Income	Condensed Consolidated Statement of Income For the year ended December 31, 2017 MFC JHUSA Other Consolidation Consolidated Revenue Net premium income – 11,084 17,130 (4 ) 28,210 Net investment income (loss) 178 7,986 11,947 (744 ) 19,367 Net other revenue 4 2,874 10,912 (3,044 ) 10,746 Total revenue 182 21,944 39,989 (3,792 ) 58,323 Contract benefits and expenses Net benefits and claims – 20,803 19,179 (681 ) 39,301 Commissions, investment and general expenses 11 3,208 13,900 (2,097 ) 15,022 Other expenses 404 194 1,915 (1,014 ) 1,499 Total contract benefits and expenses 415 24,205 34,994 (3,792 ) 55,822 Income (loss) before income taxes (233 ) (2,261 ) 4,995 – 2,501 Income tax (expense) recovery 62 1,134 (1,435 ) – (239 ) Income (loss) after income taxes (171 ) (1,127 ) 3,560 – 2,262 Equity in net income (loss) of unconsolidated subsidiaries 2,275 628 (486 ) (2,417 ) – Net income (loss) $ 2,104 $ (499 ) $ 3,074 $ (2,417 ) $ 2,262 Net income (loss) attributed to: Non-controlling $ – $ – $ 194 $ – $ 194 Participating policyholders – (10 ) (36 ) 10 (36 ) Shareholders 2,104 (489 ) 2,916 (2,427 ) 2,104 $ 2,104 $ (499 ) $ 3,074 $ (2,417 ) $ 2,262 Condensed Consolidated Statement of Income For the year ended December 31, 2016 MFC JHUSA Other Consolidation Consolidated Revenue Net premium income – 5,021 22,611 – 27,632 Net investment income (loss) 475 6,191 9,092 (1,234 ) 14,524 Net other revenue 43 2,569 11,108 (2,539 ) 11,181 Total revenue 518 13,781 42,811 (3,773 ) 53,337 Contract benefits and expenses Net benefits and claims – 10,340 24,748 (954 ) 34,134 Commissions, investment and general expenses 11 3,272 13,016 (1,840 ) 14,459 Other expenses 259 59 2,076 (979 ) 1,415 Total contract benefits and expenses 270 13,671 39,840 (3,773 ) 50,008 Income (loss) before income taxes 248 110 2,971 – 3,329 Income tax (expense) recovery 28 251 (475 ) – (196 ) Income (loss) after income taxes 276 361 2,496 – 3,133 Equity in net income (loss) of unconsolidated subsidiaries 2,653 211 572 (3,436 ) – Net income (loss) $ 2,929 $ 572 $ 3,068 $ (3,436 ) $ 3,133 Net income (loss) attributed to: Non-controlling $ – $ – $ 143 $ – $ 143 Participating policyholders – (48 ) 61 48 61 Shareholders 2,929 620 2,864 (3,484 ) 2,929 $ 2,929 $ 572 $ 3,068 $ (3,436 ) $ 3,133
Consolidated Statement of Cash Flows	Consolidated Statement of Cash Flows For the year ended December 31, 2017 MFC (Guarantor) JHUSA (Issuer) Other subsidiaries Consolidation adjustments Consolidated MFC Operating activities Net income (loss) $ 2,104 $ (499 ) $ 3,074 $ (2,417 ) $ 2,262 Adjustments: Equity in net income of unconsolidated subsidiaries (2,275 ) (628 ) 486 2,417 – Increase (decrease) in insurance contract liabilities – 16,877 3,146 – 20,023 Increase (decrease) in investment contract liabilities – 55 118 – 173 (Increase) decrease in reinsurance assets – (1,890 ) 4,159 – 2,269 Amortization of (premium) discount on invested assets – 24 206 – 230 Other amortization 4 123 433 – 560 Net realized and unrealized (gains) losses and impairment on assets (7 ) (2,609 ) (4,572 ) – (7,188 ) Deferred income tax expense (recovery) (59 ) (2,239 ) 1,967 – (331 ) Stock option expense – (4 ) 19 – 15 Cash provided by (used in) operating activities before undernoted items (233 ) 9,210 9,036 – 18,013 Dividends from unconsolidated subsidiary 2,700 125 1,175 (4,000 ) – Changes in policy related and operating receivables and payables (45 ) (4,627 ) 4,450 – (222 ) Cash provided by (used in) operating activities 2,422 4,708 14,661 (4,000 ) 17,791 Investing activities Purchases and mortgage advances – (30,645 ) (56,579 ) – (87,224 ) Disposals and repayments – 26,952 43,768 – 70,720 Changes in investment broker net receivables and payables – 182 45 – 227 Investment in common shares of subsidiaries (2,473 ) – – 2,473 – Net cash decrease from sale and purchase of subsidiaries and businesses – – (10 ) – (10 ) Capital contribution to unconsolidated subsidiaries – (63 ) – 63 – Return of capital from unconsolidated subsidiaries – 11 – (11 ) – Notes receivable from affiliates – – 201 (201 ) – Notes receivable from parent – 368 24 (392 ) – Notes receivable from subsidiaries (16 ) (10 ) – 26 – Cash provided by (used in) investing activities (2,489 ) (3,205 ) (12,551 ) 1,958 (16,287 ) Financing activities Increase (decrease) in repurchase agreements and securities sold but not yet purchased – – (29 ) – (29 ) Redemption of long-term debt (600 ) – (7 ) – (607 ) Issue of capital instruments, net 2,209 – – – 2,209 Redemption of capital instruments – – (899 ) – (899 ) Secured borrowings from securitization transactions – – 741 – 741 Changes in deposits from Bank clients, net – – 261 – 261 Shareholders’ dividends paid in cash (1,780 ) – – – (1,780 ) Dividends paid to parent – (1,175 ) (2,825 ) 4,000 – Contributions from (distributions to) non-controlling – – (6 ) – (6 ) Common shares issued, net 124 – 2,473 (2,473 ) 124 Capital contributions by parent – – 63 (63 ) – Return of capital to parent – – (11 ) 11 – Notes payable to affiliates – (201 ) – 201 – Notes payable to parent – – 26 (26 ) – Notes payable to subsidiaries (24 ) – (368 ) 392 – Cash provided by (used in) financing activities (71 ) (1,376 ) (581 ) 2,042 14 Cash and short-term securities Increase (decrease) during the year (138 ) 127 1,529 – 1,518 Effect of foreign exchange rate changes on cash and short-term securities (2 ) (276 ) (380 ) – (658 ) Balance, beginning of year 161 3,787 10,290 – 14,238 Balance, end of year 21 3,638 11,439 – 15,098 Cash and short-term securities Beginning of year Gross cash and short-term securities 161 4,317 10,673 – 15,151 Net payments in transit, included in other liabilities – (530 ) (383 ) – (913 ) Net cash and short-term securities, beginning of year 161 3,787 10,290 – 14,238 End of year Gross cash and short-term securities 21 4,133 11,811 – 15,965 Net payments in transit, included in other liabilities – (495 ) (372 ) – (867 ) Net cash and short-term securities, end of year $ 21 $ 3,638 $ 11,439 $ – $ 15,098 Supplemental disclosures on cash flow information: Interest received $ 273 $ 4,391 $ 6,504 $ (572 ) $ 10,596 Interest paid 392 96 1,202 (572 ) 1,118 Income taxes paid 99 1,084 177 – 1,360 Consolidated Statement of Cash Flows For the year ended December 31, 2016 MFC (Guarantor) JHUSA (Issuer) Other subsidiaries Consolidation adjustments Consolidated MFC Operating activities Net income (loss) $ 2,929 $ 572 $ 3,068 $ (3,436 ) $ 3,133 Adjustments: Equity in net income of unconsolidated subsidiaries (2,653 ) (211 ) (572 ) 3,436 – Increase (decrease) in insurance contract liabilities – 5,225 12,789 – 18,014 Increase (decrease) in investment contract liabilities – 58 (58 ) – – (Increase) decrease in reinsurance assets – (1,444 ) 602 – (842 ) Amortization of (premium) discount on invested assets – (5 ) 83 – 78 Other amortization 2 284 407 – 693 Net realized and unrealized (gains) losses and impairment on assets (9 ) (917 ) (1,878 ) – (2,804 ) Deferred income tax expense (recovery) 3 391 (629 ) – (235 ) Stock option expense – (1 ) 20 – 19 Cash provided by (used in) operating activities before undernoted items 272 3,952 13,832 – 18,056 Dividends from unconsolidated subsidiary 1,950 111 – (2,061 ) – Changes in policy related and operating receivables and payables 171 (1,291 ) 81 – (1,039 ) Cash provided by (used in) operating activities 2,393 2,772 13,913 (2,061 ) 17,017 Investing activities Purchases and mortgage advances (32 ) (34,656 ) (69,371 ) – (104,059 ) Disposals and repayments – 32,343 49,658 – 82,001 Changes in investment broker net receivables and payables – (35 ) (151 ) – (186 ) Investment in common shares of subsidiaries (5,706 ) – – 5,706 – Net cash decrease from sale and purchase of subsidiaries and businesses – – (495 ) – (495 ) Capital contribution to unconsolidated subsidiaries – (350 ) – 350 – Return of capital from unconsolidated subsidiaries – 1 – (1 ) – Notes receivable from affiliates – – 544 (544 ) – Notes receivable from parent – – 344 (344 ) – Notes receivable from subsidiaries (6 ) (40 ) – 46 – Cash provided by (used in) investing activities (5,744 ) (2,737 ) (19,471 ) 5,213 (22,739 ) Financing activities (Decrease) increase in repurchase agreements and securities sold but not yet purchased – – (23 ) – (23 ) Issue of long-term debt, net 3,899 – – – 3,899 Redemption of long-term debt – – (158 ) – (158 ) Issue of capital instruments, net 479 – – – 479 Redemption of capital instruments – – (949 ) – (949 ) Secured borrowings from securitization transactions – – 847 – 847 Changes in deposits from Bank clients, net – – (157 ) – (157 ) Shareholders’ dividends paid in cash (1,593 ) – – – (1,593 ) Contributions from (distributions to) non-controlling – – 10 – 10 Common shares issued, net 66 – 5,706 (5,706 ) 66 Preferred shares issued, net 884 – – – 884 Dividends paid to parent – – (2,061 ) 2,061 – Capital contributions by parent – – 350 (350 ) – Return of capital to parent – – (1 ) 1 – Notes payable to affiliates – (544 ) – 544 – Notes payable to parent – – 46 (46 ) – Notes payable to subsidiaries (344 ) – – 344 – Cash provided by (used in) financing activities 3,391 (544 ) 3,610 (3,152 ) 3,305 Cash and short-term securities Increase (decrease) during the year 40 (509 ) (1,948 ) – (2,417 ) Effect of foreign exchange rate changes on cash and short-term securities (1 ) (149 ) (197 ) – (347 ) Balance, beginning of year 122 4,445 12,435 – 17,002 Balance, end of year 161 3,787 10,290 – 14,238 Cash and short-term securities Beginning of year Gross cash and short-term securities 122 4,938 12,825 – 17,885 Net payments in transit, included in other liabilities – (493 ) (390 ) – (883 ) Net cash and short-term securities, beginning of year 122 4,445 12,435 – 17,002 End of year Gross cash and short-term securities 161 4,317 10,673 – 15,151 Net payments in transit, included in other liabilities – (530 ) (383 ) – (913 ) Net cash and short-term securities, end of year $ 161 $ 3,787 $ 10,290 $ – $ 14,238 Supplemental disclosures on cash flow information: Interest received $ – $ 4,523 $ 6,795 $ (768 ) $ 10,550 Interest paid 210 144 1,397 (768 ) 983 Income taxes paid 35 68 738 – 841

IFRS 7 Disclosures (Tables)

IFRS 7 Disclosures (Tables)	12 Months Ended
	Dec. 31, 2017
Summary of Risk Management Strategies	The following table outlines our key market risks and identifies the risk management strategies which contribute to managing these risks. Risk Management Strategy Key Market Risk Publicly Interest Rate Alternative Long-Duration Foreign Product design and pricing X X X X Variable annuity guarantee dynamic hedging X X X Macro equity risk hedging X X Asset liability management X X X X Foreign exchange management X
Summary of Variable Annuity and Segregated Fund Guarantees, Net of Reinsurance	The table below shows selected information regarding the Company’s variable annuity and segregated fund investment-related guarantees gross and net of reinsurance. Variable annuity and segregated fund guarantees, net of reinsurance As at December 31, 2017 2016 Guarantee Fund value Amount (4),(5) Guarantee Fund value Amount (4),(5) Guaranteed minimum income benefit (1) $ 5,201 $ 4,195 $ 1,074 $ 5,987 $ 4,432 $ 1,570 Guaranteed minimum withdrawal benefit 61,767 56,512 5,943 68,594 59,593 9,135 Guaranteed minimum accumulation benefit 18,162 18,705 11 19,482 19,989 27 Gross living benefits (2) 85,130 79,412 7,028 94,063 84,014 10,732 Gross death benefits (3) 10,743 16,973 1,001 12,200 16,614 1,350 Total gross of reinsurance 95,873 96,385 8,029 106,263 100,628 12,082 Living benefits reinsured 4,522 3,667 911 5,241 3,903 1,349 Death benefits reinsured 3,014 3,040 435 3,429 3,202 564 Total reinsured 7,536 6,707 1,346 8,670 7,105 1,913 Total, net of reinsurance $ 88,337 $ 89,678 $ 6,683 $ 97,593 $ 93,523 $ 10,169 (1) Contracts with guaranteed long-term care benefits are included in this category. (2) Where a policy includes both living and death benefits, the guarantee in excess of the living benefit is included in the death benefit category as outlined in footnote 3. (3) Death benefits include stand-alone guarantees and guarantees in excess of living benefit guarantees where both death and living benefits are provided on a policy. (4) Amount at risk (in-the-money amount) is the excess of guarantee values over fund values on all policies where the guarantee value exceeds the fund value. This amount is not currently payable. For guaranteed minimum death benefit, the amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance. For guaranteed minimum income benefit, the amount at risk is defined as the excess of the current annuitization income base over the current account value. For all guarantees, the amount at risk is floored at zero at the single contract level. (5) The amount at risk net of reinsurance at December 31, 2017 was $6,683 million (2016 – $10,169 million) of which: US$3,982 million (2016 – US$6,008 million) was on our U.S. business, $1,342 million (2016 – $1,499 million) was on our Canadian business, US$95 million (2016 – US$206 million) was on our Japan business and US$181 million (2016 – US$244 million) was related to Asia (other than Japan) and our run-off reinsurance business.
Summary of Investment Categories for Variable Contracts with Guarantees	Variable contracts with guarantees, including variable annuities and variable life, are invested, at the policyholder’s discretion subject to contract limitations, in various fund types within the segregated fund accounts and other investments. The account balances by investment category are set out below. As at December 31, ($ millions) Investment category 2017 2016 Equity funds $ 47,508 $ 41,805 Balanced funds 47,369 57,571 Bond funds 13,095 11,588 Money market funds 1,905 2,127 Other fixed interest rate investments 1,777 1,807 Total $ 111,654 $ 114,898
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders Arising from Changes to Public Equity Returns	Potential immediate impact on net income attributed to shareholders arising from changes to public equity returns (1),(2),(3),(4) As at December 31, 2017 ($ millions) -30% -20% -10% 10% 20% 30% Underlying sensitivity to net income attributed to shareholders (5) Variable annuity guarantees $ (3,940 ) $ (2,260 ) $ (960 ) $ 670 $ 1,110 $ 1,410 Asset based fees (510 ) (340 ) (170 ) 170 340 510 General fund equity investments (6) (930 ) (590 ) (270 ) 270 540 810 Total underlying sensitivity before hedging (5,380 ) (3,190 ) (1,400 ) 1,110 1,990 2,730 Impact of macro and dynamic hedge assets (7) 3,220 1,850 790 (640 ) (1,100 ) (1,410 ) Net potential impact on net income after impact of hedging $ (2,160 ) $ (1,340 ) $ (610 ) $ 470 $ 890 $ 1,320 As at December 31, 2016 ($ millions) -30% -20% -10% 10% 20% 30% Underlying sensitivity to net income attributed to shareholders (5) Variable annuity guarantees $ (4,830 ) $ (2,920 ) $ (1,290 ) $ 1,000 $ 1,690 $ 2,170 Asset based fees (410 ) (280 ) (140 ) 140 280 410 General fund equity investments (6) (910 ) (590 ) (270 ) 240 490 750 Total underlying sensitivity before hedging (6,150 ) (3,790 ) (1,700 ) 1,380 2,460 3,330 Impact of macro and dynamic hedge assets (7) 4,050 2,440 1,060 (910 ) (1,610 ) (2,160 ) Net potential impact on net income attributed to shareholders after impact of hedging $ (2,100 ) $ (1,350 ) $ (640 ) $ 470 $ 850 $ 1,170 (1) See “Caution Related to Sensitivities” above. (2) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018. Due to the lower effective tax rate, the after-tax impact of changes to public equity returns increases. (3) The tables above show the potential impact on net income attributed to shareholders resulting from an immediate 10%, 20% and 30% change in market values of publicly traded equities followed by a return to the expected level of growth assumed in the valuation of policy liabilities. (4) Please refer to “Sensitivity of Earnings to Changes in Assumptions” for more information on the level of growth assumed and on the net income sensitivity to changes in these long-term assumptions. (5) Defined as earnings sensitivity to a change in public equity markets including settlements on reinsurance contracts, but before the offset of hedge assets or other risk mitigants. (6) This impact for general fund equities is calculated as at a point-in-time and does not include: (i) any potential impact on public equity weightings; (ii) any gains or losses on AFS public equities held in the Corporate and Other segment; or (iii) any gains or losses on public equity investments held in Manulife Bank. The participating policy funds are largely self-supporting and generate no material impact on net income attributed to shareholders as a result of changes in equity markets. (7) Includes the impact of rebalancing equity hedges in the macro and dynamic hedging program. The impact of dynamic hedge rebalancing represents the impact of rebalancing equity hedges for dynamically hedged variable annuity guarantee best estimate liabilities at 5% intervals, but does not include any impact in respect of other sources of hedge ineffectiveness (e.g. fund tracking, realized volatility and equity, interest rate correlations different from expected among other factors).
Schedule of Potential Immediate Impact on MLI's MCCSR Ratio Arising from Public Equity Returns	Potential immediate impact on MLI’s MCCSR ratio arising from public equity returns different than the expected return for policy liability valuation (1),(2),(3),(4) Impact on MLI’s MCCSR ratio Percentage points -30% -20% -10% 10% 20% 30% December 31, 2017 (14 ) (8 ) (4 ) 3 11 14 December 31, 2016 (12 ) (8 ) (4 ) 3 14 18 (1) See “Caution Related to Sensitivities” above. In addition, estimates exclude changes to the net actuarial gains/losses with respect to the Company’s pension obligations as a result of changes in equity markets, as the impact on the quoted sensitivities is not considered to be material. (2) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018. Due to the lower effective tax rate, the after-tax impact of changes to public equity returns increases. (3) The potential impact is shown assuming that the change in value of the hedge assets does not completely offset the change in the dynamically hedged variable annuity guarantee liabilities. The estimated amount that would not be completely offset relates to our practices of not hedging the provisions for adverse deviation and of rebalancing equity hedges for dynamically hedged variable annuity liabilities at 5% intervals. (4) OSFI rules for segregated fund guarantees reflect full capital impacts of shocks over 20 quarters within a prescribed range. As such, the deterioration in equity markets could lead to further increases in capital requirements after the initial shock.
Summary of Potential impact on net income attributed to shareholders and MLI's MCCSR ratio of an immediate parallel change in interest rates relative to rates assumed in the valuation of policy liabilities	Potential impact on net income attributed to shareholders and MLI’s MCCSR ratio of an immediate parallel change in interest rates relative to rates assumed in the valuation of policy liabilities (1),(2),(3),(4),(5) 2017 2016 As at December 31, -50bp +50bp -50bp +50bp Net income attributed to shareholders ($ millions) Excluding change in market value of AFS fixed income assets held in the surplus segment $ (200 ) $ 100 $ – $ – From fair value changes in AFS fixed income assets held in surplus, if realized 1,100 (1,000) 1,000 (900) MLI’s MCCSR ratio (Percentage points) Before impact of change in market value of AFS fixed income assets held in the surplus segment (6) (7 ) 5 (6 ) 5 From fair value changes in AFS fixed income assets held in surplus, if realized 4 (5 ) 1 (4) (1) See “Caution Related to Sensitivities” above. In addition, estimates exclude changes to the net actuarial gains/losses with respect to the Company’s pension obligations as a result of changes in interest rates, as the impact on the quoted sensitivities is not considered to be material. (2) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018 and the decision to change the portfolio asset mix supporting our legacy businesses over the next 12-18 months. (3) Includes guaranteed insurance and annuity products, including variable annuity contracts as well as adjustable benefit products where benefits are generally adjusted as interest rates and investment returns change, a portion of which have minimum credited rate guarantees. For adjustable benefit products subject to minimum rate guarantees, the sensitivities are based on the assumption that credited rates will be floored at the minimum. (4) The amount of gain or loss that can be realized on AFS fixed income assets held in the surplus segment will depend on the aggregate amount of unrealized gain or loss. (5) Sensitivities are based on projected asset and liability cash flows and the impact of realizing fair value changes in AFS fixed income is based on the holdings at the end of the period. (6) The impact on MLI’s MCCSR ratio includes both the impact of lower earnings on available capital as well as the increase in required capital that results from a decline in interest rates.
Schedule of Currency Changes Relative to Key Operating Currencies Potential mpact on Core Earnings	Potential impact on core earnings (1),(2),(3) 2017 2016 As at December 31, ($ millions) +10% -10% +10% -10% 10% change in the Canadian dollar relative to the U.S. dollar and the Hong Kong dollar $ (280) $ 280 $ (230 ) $ 230 10% change in the Canadian dollar relative to the Japanese yen (60) 60 (50 ) 50 (1) This item is a non-GAAP measure. See “Performance and Non-GAAP Measures” below. (2) See “Caution Related to Sensitivities” above. (3) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018.
Schedule of Maturity of Financial Liabilities	The following table outlines the maturity of the Company’s significant financial liabilities. Maturity of financial liabilities (1) As at December 31, 2017 ($ millions) Less than 1 to 3 years 3 to 5 years Over Total Long-term debt $ 401 $ 626 $ – $ 3,758 $ 4,785 Capital instruments – – – 8,387 8,387 Derivatives 224 149 168 7,281 7,822 Deposits from Bank clients (2) 15,322 1,373 1,436 – 18,131 Lease obligations 126 172 89 451 838 (1) The amounts shown above are net of the related unamortized deferred issue costs. (2) Carrying value and fair value of deposits from Bank clients as at December 31, 2017 was $18,131 million and $18,149 million, respectively (2016 – $17,919 million and $17,978 million, respectively). Fair value is determined by discounting contractual cash flows, using market interest rates currently offered for deposits with similar terms and conditions. All deposits from Bank clients were categorized in Level 2 of the fair value hierarchy (2016 – Level 2).
Alternative Long-Duration Asset Performance Risk [Member]
Summary of Potential Impact on Net Income Attributed to Shareholders Arising from Changes to Spreads	Potential impact on net income attributed to shareholders arising from changes in ALDA returns (1),(2),(3),(4),(5),(6),(7) As at December 31, ($ millions) 2017 2016 -10% 10% -10% 10% Real estate, agriculture and timber assets $ (1,300 ) $ 1,300 $ (1,300 ) $ 1,200 Private equities and other ALDA (1,500 ) 1,400 (1,200 ) 1,200 Alternative long-duration assets $ (2,800 ) $ 2,700 $ (2,500 ) $ 2,400 (1) See “Caution Related to Sensitivities” above. (2) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018. (3) This impact is calculated as at a point-in-time impact and does not include: (i) any potential impact on ALDA weightings or (ii) any gains or losses on ALDA held in the Corporate and Other segment. (4) The participating policy funds are largely self-supporting and generate no material impact on net income attributed to shareholders as a result of changes in ALDA returns. For some classes of ALDA, where there is not an appropriate long-term benchmark available, the return assumptions used in valuation are not permitted by the Standards of Practice and CIA guidance to result in a lower reserve than an assumption based on a historical return benchmark for public equities in the same jurisdiction. (5) Net income impact does not consider any impact of the market correction on assumed future return assumptions. (6) Please refer to “Sensitivity of Earnings to Changes in Assumptions” below, for more information on the level of growth assumed and on the net income sensitivity to changes in these long-term assumptions. (7) The sensitivities as at December 31, 2017 do not include the impact of the decision to change the portfolio asset mix supporting our North American legacy business as no changes to the portfolio had been made as of that date. The reduction in the allocation to ALDA in the portfolio asset mix will be reflected in the sensitivity as it occurs over the next 12-18 months.
Corporate and swap spreads [Member]
Summary of Potential Impact on Net Income Attributed to Shareholders Arising from Changes to Spreads	The following tables show the potential impact on net income attributed to shareholders resulting from a change in corporate spreads and swap spreads over government bond rates for all maturities across all markets with a floor of zero on the total interest rate, relative to the spreads assumed in the valuation of policy liabilities. Potential impact on net income attributed to shareholders arising from changes to corporate spreads and swap spreads (1),(2),(3),(4) As at December 31, 2017 2016 Corporate spreads (5),(6) Increase 50 basis points $ 1,000 $ 700 Decrease 50 basis points (1,000 ) (800 ) Swap spreads Increase 20 basis points $ (400 ) $ (500 ) Decrease 20 basis points 400 500 (1) See “Caution Related to Sensitivities” above. (2) The sensitivities as at December 31, 2017 include the impact of lower U.S. corporate tax rates effective January 1, 2018 and the decision to change the portfolio asset mix of our North American legacy businesses over the next 12-18 months. (3) The impact on net income attributed to shareholders assumes no gains or losses are realized on our AFS fixed income assets held in the surplus segment and excludes the impact of changes in segregated fund bond values due to changes in credit spreads. The participating policy funds are largely self-supporting and generate no material impact on net income attributed to shareholders as a result of changes in corporate and swap spreads. (4) Sensitivities are based on projected asset and liability cash flows. (5) Corporate spreads are assumed to grade to the long-term average over five years. (6) As the sensitivity to a 50 basis point decline in corporate spreads includes the impact of a change in deterministic reinvestment scenarios where applicable, the impact of changes to corporate spreads for less than, or more than, the amounts indicated are unlikely to be linear.

Nature of Operations and Sign54

Nature of Operations and Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017
Bottom of range [Member]
Disclosure of changes in accounting estimates [Line Items]
Estimated useful life of property	30 years
Finite -Lived intangible assets, useful life	6 years
Capital asset, useful life	2 years
Bottom of range [Member] | Software [Member]
Disclosure of changes in accounting estimates [Line Items]
Finite -Lived intangible assets, useful life	3 years
Top of range [Member]
Disclosure of changes in accounting estimates [Line Items]
Estimated useful life of property	60 years
Finite -Lived intangible assets, useful life	68 years
Capital asset, useful life	10 years
Top of range [Member] | Software [Member]
Disclosure of changes in accounting estimates [Line Items]
Finite -Lived intangible assets, useful life	5 years

Acquisition and Distribution 55

Acquisition and Distribution Agreements - Additional Information (Detail) - CAD CAD in Millions	Nov. 01, 2016	Jan. 01, 2016
Standard Chartered's Mandatory Provident Fund and Occupational Retirement Schemes Ordinance [Member]
Disclosure of detailed information about business combination [Line Items]
Consideration paid in cash	CAD 392
Distribution partnership agreement term	15 years
DBS Bank Ltd [Member] | Distribution networks [Member]
Disclosure of detailed information about business combination [Line Items]
Intangible assets recognized		CAD 536
Regional distribution agreement term		15 years

Invested Assets and Investmen56

Invested Assets and Investment Income - Schedule of Carrying Values and Fair Values of Invested Assets (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	CAD 15,965	CAD 15,151	CAD 17,885
Debt securities	174,000	168,622
Public equities	21,545	19,496
Mortgages	44,742	44,193
Private placements	32,132	29,729
Policy loans	5,808	6,041
Loans to bank clients	1,737	1,745
Real estate	13,810	14,132
Other invested assets	24,483	22,760
Total invested assets	334,222	321,869
FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	439	269
Public equities	18,473	16,531
Total invested assets	178,096	168,561
AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	11,429	11,705
Public equities	3,072	2,965
Total invested assets	41,565	42,498
Other invested assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	4,097	3,177
Mortgages	44,742	44,193
Private placements	32,132	29,729
Policy loans	5,808	6,041
Loans to bank clients	1,737	1,745
Total invested assets	114,561	110,810
Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	15,965	15,151
Public equities	21,545	19,496
Mortgages	46,065	45,665
Private placements	34,581	31,459
Policy loans	5,808	6,041
Loans to bank clients	1,742	1,746
Total invested assets	339,488	326,563
Canadian government and agency [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	22,778	24,745
Canadian government and agency [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	17,886	18,030
Canadian government and agency [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	4,892	6,715
Canadian government and agency [Member] | Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	22,778	24,745
U.S. government and agency [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	25,969	27,304
U.S. government and agency [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	12,497	13,971
U.S. government and agency [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	13,472	13,333
U.S. government and agency [Member] | Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	25,969	27,304
Other government and agency [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	19,826	20,941
Other government and agency [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	16,838	18,629
Other government and agency [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	2,988	2,312
Other government and agency [Member] | Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	19,826	20,941
Corporate [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	102,151	92,415
Corporate [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	96,785	87,374
Corporate [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	5,366	5,041
Corporate [Member] | Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	102,151	92,415
Mortgage/asset-backed securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	3,276	3,217
Mortgage/asset-backed securities [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	3,018	2,886
Mortgage/asset-backed securities [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	258	331
Mortgage/asset-backed securities [Member] | Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	3,276	3,217
Real estate own use property [Member]
Disclosure of fair value measurement of assets [Line Items]
Real estate	1,281	1,376
Real estate own use property [Member] | Other invested assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Real estate	1,281	1,376
Real estate own use property [Member] | Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Real estate	2,448	2,524
Investment property [Member]
Disclosure of fair value measurement of assets [Line Items]
Real estate	12,529	12,756
Investment property [Member] | Other invested assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Real estate	12,529	12,756
Investment property [Member] | Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Real estate	12,529	12,756
Alternative long-duration assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	20,730	18,851
Alternative long-duration assets [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	12,018	10,707
Alternative long-duration assets [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	88	96
Alternative long-duration assets [Member] | Other invested assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	8,624	8,048
Alternative long-duration assets [Member] | Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	21,053	19,193
Various other [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	3,753	3,909
Various other [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	142	164
Various other [Member] | Other invested assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	3,611	3,745
Various other [Member] | Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	CAD 3,752	CAD 3,910

Invested Assets and Investmen57

Invested Assets and Investment Income - Schedule of Carrying Values and Fair Values of Invested Assets (Parenthetical) (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of fair value measurement of assets [Line Items]
Debt securities	CAD 174,000	CAD 168,622
Less than 1 year [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	1,768	893
Less than 90 days [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	161	192
Cash and short-term securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Short-term securities with maturities of less than one year	2,737	3,111
Cash equivalents	9,131	8,863
Cash	4,097	3,177
Other [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets leveraged leases	3,273	3,369
Accumulated depreciation and amortisation [Member] | Real estate own use property [Member]
Disclosure of fair value measurement of assets [Line Items]
Accumulated depreciation of own use property	389	404
Private equity [Member] | Alternative long-duration assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Total carrying value	4,959	4,619
Power and infrastructure [Member] | Alternative long-duration assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Total carrying value	7,355	6,679
Oil and gas [Member] | Alternative long-duration assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Total carrying value	2,813	2,093
Timber and agriculture [Member] | Alternative long-duration assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Total carrying value	5,033	4,972
Other invested assets [Member] | Alternative long-duration assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Total carrying value	CAD 570	CAD 488

Invested Assets and Investmen58

Invested Assets and Investment Income - Schedule of Other Invested Assets Include Investments in Associates and Joint Ventures Accounted Using Equity Method (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Investments in associates carrying value	CAD 5,757	CAD 5,780
Percentage of investments in associates carrying value	100.00%	100.00%
Leveraged leases [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Investments in associates carrying value	CAD 3,273	CAD 3,369
Percentage of investments in associates carrying value	56.00%	58.00%
Timber and agriculture [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Investments in associates carrying value	CAD 451	CAD 430
Percentage of investments in associates carrying value	8.00%	8.00%
Real estate [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Investments in associates carrying value	CAD 498	CAD 419
Percentage of investments in associates carrying value	9.00%	7.00%
Other [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Investments in associates carrying value	CAD 1,535	CAD 1,562
Percentage of investments in associates carrying value	27.00%	27.00%

Invested Assets and Investmen59

Invested Assets and Investment Income - Additional Information (Detail) - CAD	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of fair value measurement of assets [Line Items]
Fair value of securitized assets	CAD 729,533,000,000	CAD 720,681,000,000
Fair value of securitized liabilities	687,370,000,000	677,858,000,000
Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period	0	0
Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period	0	0
Segregated funds [Member]
Disclosure of fair value measurement of assets [Line Items]
Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period	0	8,000,000
Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period	5,000,000	0
Other invested assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Profit (loss) from associates and joint ventures	291,000,000	252,000,000
Dividends received from associates and joint ventures	14,000,000	17,000,000
Securitized assets [Member] | Fair value [Member]
Disclosure of fair value measurement of assets [Line Items]
Fair value of securitized assets	3,533,000,000	2,821,000,000
Fair value of securitized liabilities	CAD 3,503,000,000	CAD 2,776,000,000

Invested Assets and Investmen60

Invested Assets and Investment Income - Schedule of Investment Income (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Investment Income [line items]
Rental income, net of depreciation	CAD 1,120	CAD 1,204
Yields	6.00%	4.70%
Net investment income	CAD 19,367	CAD 14,524
Investment income	CAD 13,649	CAD 13,390
Debt securities [Member]
Disclosure of Investment Income [line items]
Yields	5.40%	4.70%
Interest income	CAD 5,679	CAD 5,639
Gains (losses)	3,485	2,206
Impairment loss	CAD 15	CAD (18)
Cash and short-term securities [Member]
Disclosure of Investment Income [line items]
Yields	0.90%	0.70%
Interest income	CAD 160	CAD 124
Gains (losses)	(25)
Public equities [Member]
Disclosure of Investment Income [line items]
Dividend income	CAD 603	CAD 592
Yields	16.60%	10.60%
Gains (losses)	CAD 2,598	CAD 1,209
Impairment loss	CAD (14)	CAD (48)
Mortgages [Member]
Disclosure of Investment Income [line items]
Yields	3.90%	4.10%
Interest income	CAD 1,685	CAD 1,667
Gains (losses)	69	81
Provision, net	CAD (32)	CAD (7)
Private placements [Member]
Disclosure of Investment Income [line items]
Yields	5.30%	5.40%
Interest income	CAD 1,553	CAD 1,494
Gains (losses)	43	17
Impairment loss	CAD 10	CAD (50)
Policy loans [Member]
Disclosure of Investment Income [line items]
Yields	6.10%	6.10%
Net investment income	CAD 365	CAD 358
Loans to Bank clients [Member]
Disclosure of Investment Income [line items]
Yields	4.00%	3.90%
Interest income	CAD 68	CAD 68
Real estate [Member]
Disclosure of Investment Income [line items]
Rental income, net of depreciation	CAD 517	CAD 523
Yields	6.20%	4.90%
Gains (losses)	CAD 341	CAD 160
Impairment loss	(4)
Derivatives [Member]
Disclosure of Investment Income [line items]
Interest income	893	1,082
Gains (losses)	CAD (945)	CAD (2,597)
Other invested assets [Member]
Disclosure of Investment Income [line items]
Yields	10.30%	10.30%
Interest income	CAD 174	CAD 103
Oil and gas, timber, agriculture and other income	1,690	1,162
Gains (losses)	484	842
Impairment loss	CAD (45)	CAD (83)
Interest income [Member]
Disclosure of Investment Income [line items]
Yields	3.30%	3.40%
Investment income	CAD 10,577	CAD 10,533
Dividend, rental and other income [Member]
Disclosure of Investment Income [line items]
Yields	0.90%	0.70%
Investment income	CAD 2,810	CAD 2,277
Impairments, provisions and recoveries, net [Member]
Disclosure of Investment Income [line items]
Yields	0.00%	(0.10%)
Investment income	CAD (70)	CAD (206)
Other [Member]
Disclosure of Investment Income [line items]
Yields	0.10%	0.20%
Investment income	CAD 332	CAD 786
Insurance and investment contract liabilities and macro equity hedges [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	CAD 5,718	CAD 1,134
Insurance and investment contract liabilities and macro equity hedges [Member] | Debt securities [Member]
Disclosure of Investment Income [line items]
Yields	1.10%	0.50%
Realized and unrealized gains (losses) on assets	CAD 3,686	CAD 1,662
Insurance and investment contract liabilities and macro equity hedges [Member] | Public equities [Member]
Disclosure of Investment Income [line items]
Yields	0.70%	0.30%
Realized and unrealized gains (losses) on assets	CAD 2,235	CAD 985
Insurance and investment contract liabilities and macro equity hedges [Member] | Mortgages [Member]
Disclosure of Investment Income [line items]
Yields	0.00%	0.00%
Realized and unrealized gains (losses) on assets	CAD 69	CAD 80
Insurance and investment contract liabilities and macro equity hedges [Member] | Private placements [Member]
Disclosure of Investment Income [line items]
Yields	0.00%	0.00%
Realized and unrealized gains (losses) on assets	CAD 40	CAD 12
Insurance and investment contract liabilities and macro equity hedges [Member] | Real estate [Member]
Disclosure of Investment Income [line items]
Yields	0.10%	0.00%
Realized and unrealized gains (losses) on assets	CAD 350	CAD 128
Insurance and investment contract liabilities and macro equity hedges [Member] | Other invested assets [Member]
Disclosure of Investment Income [line items]
Yields	0.10%	0.30%
Realized and unrealized gains (losses) on assets	CAD 441	CAD 848
Insurance and investment contract liabilities and macro equity hedges [Member] | Derivatives, including macro equity hedging program [Member]
Disclosure of Investment Income [line items]
Yields	(0.30%)	(0.80%)
Realized and unrealized gains (losses) on assets	CAD (1,103)	CAD (2,581)
FVTPL [Member]
Disclosure of Investment Income [line items]
Net investment income	11,954	7,410
Investment income	6,918	6,683
FVTPL [Member] | Debt securities [Member]
Disclosure of Investment Income [line items]
Interest income	5,102	5,051
Gains (losses)	3,690	1,658
Impairment loss	16	(18)
FVTPL [Member] | Cash and short-term securities [Member]
Disclosure of Investment Income [line items]
Interest income	7	7
Gains (losses)	22	18
FVTPL [Member] | Public equities [Member]
Disclosure of Investment Income [line items]
Dividend income	524	534
Gains (losses)	2,372	1,008
FVTPL [Member] | Derivatives [Member]
Disclosure of Investment Income [line items]
Interest income	809	1,115
Gains (losses)	(1,029)	(2,597)
FVTPL [Member] | Other invested assets [Member]
Disclosure of Investment Income [line items]
Gains (losses)	441	634
FVTPL [Member] | Interest income [Member]
Disclosure of Investment Income [line items]
Investment income	5,918	6,173
FVTPL [Member] | Dividend, rental and other income [Member]
Disclosure of Investment Income [line items]
Investment income	524	534
FVTPL [Member] | Impairments, provisions and recoveries, net [Member]
Disclosure of Investment Income [line items]
Investment income	16	(18)
FVTPL [Member] | Other [Member]
Disclosure of Investment Income [line items]
Investment income	460	(6)
FVTPL [Member] | Insurance and investment contract liabilities and macro equity hedges [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	5,036	727
FVTPL [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Debt securities [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	3,694	1,657
FVTPL [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Public equities [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	2,200	963
FVTPL [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Other invested assets [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	329	688
FVTPL [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Derivatives, including macro equity hedging program [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	(1,187)	(2,581)
AFS [Member]
Disclosure of Investment Income [line items]
Net investment income	761	1,447
Investment income	743	1,420
AFS [Member] | Debt securities [Member]
Disclosure of Investment Income [line items]
Interest income	577	588
Gains (losses)	(205)	548
Impairment loss	(1)
AFS [Member] | Cash and short-term securities [Member]
Disclosure of Investment Income [line items]
Interest income	153	117
Gains (losses)	(47)	(18)
AFS [Member] | Public equities [Member]
Disclosure of Investment Income [line items]
Dividend income	79	58
Gains (losses)	226	201
Impairment loss	(14)	(48)
AFS [Member] | Other invested assets [Member]
Disclosure of Investment Income [line items]
Gains (losses)	(7)	1
AFS [Member] | Interest income [Member]
Disclosure of Investment Income [line items]
Investment income	730	703
AFS [Member] | Dividend, rental and other income [Member]
Disclosure of Investment Income [line items]
Investment income	79	58
AFS [Member] | Impairments, provisions and recoveries, net [Member]
Disclosure of Investment Income [line items]
Investment income	(15)	(48)
AFS [Member] | Other [Member]
Disclosure of Investment Income [line items]
Investment income	(51)	707
AFS [Member] | Insurance and investment contract liabilities and macro equity hedges [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	18	27
AFS [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Debt securities [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	(8)	5
AFS [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Public equities [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	35	22
AFS [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Other invested assets [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	(9)
Other [Member]
Disclosure of Investment Income [line items]
Net investment income	6,652	5,667
Investment income	5,988	5,287
Other [Member] | Mortgages [Member]
Disclosure of Investment Income [line items]
Interest income	1,685	1,667
Gains (losses)	69	81
Provision, net	(32)	(7)
Other [Member] | Private placements [Member]
Disclosure of Investment Income [line items]
Interest income	1,553	1,494
Gains (losses)	43	17
Impairment loss	10	(50)
Other [Member] | Policy loans [Member]
Disclosure of Investment Income [line items]
Net investment income	365	358
Other [Member] | Loans to Bank clients [Member]
Disclosure of Investment Income [line items]
Interest income	68	68
Other [Member] | Real estate [Member]
Disclosure of Investment Income [line items]
Rental income, net of depreciation	517	523
Gains (losses)	341	160
Impairment loss	(4)
Other [Member] | Derivatives [Member]
Disclosure of Investment Income [line items]
Interest income	84	(33)
Gains (losses)	84
Other [Member] | Other invested assets [Member]
Disclosure of Investment Income [line items]
Interest income	174	103
Oil and gas, timber, agriculture and other income	1,690	1,162
Gains (losses)	50	207
Impairment loss	(45)	(83)
Other [Member] | Interest income [Member]
Disclosure of Investment Income [line items]
Investment income	3,929	3,657
Other [Member] | Dividend, rental and other income [Member]
Disclosure of Investment Income [line items]
Investment income	2,207	1,685
Other [Member] | Impairments, provisions and recoveries, net [Member]
Disclosure of Investment Income [line items]
Investment income	(71)	(140)
Other [Member] | Other [Member]
Disclosure of Investment Income [line items]
Investment income	(77)	85
Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	664	380
Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Mortgages [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	69	80
Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Private placements [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	40	12
Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Real estate [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	350	128
Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Other invested assets [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	121	CAD 160
Other [Member] | Insurance and investment contract liabilities and macro equity hedges [Member] | Derivatives, including macro equity hedging program [Member]
Disclosure of Investment Income [line items]
Realized and unrealized gains (losses) on assets	CAD 84

Invested Assets and Investmen61

Invested Assets and Investment Income - Summary of Total Investment Expenses (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Investment Expenses [Line Items]
Total investment expenses	CAD 1,673	CAD 1,646
Related to invested assets [Member]
Investment Expenses [Line Items]
Total investment expenses	625	581
Related to segregated, mutual and other funds [Member]
Investment Expenses [Line Items]
Total investment expenses	CAD 1,048	CAD 1,065

Invested Assets and Investmen62

Invested Assets and Investment Income - Summary of Rental Income of Investment Properties (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about investment property [abstract]
Rental income from investment properties	CAD 1,120	CAD 1,204
Direct operating expenses of investment properties that generated rental income	(694)	(764)
Total	CAD 426	CAD 440

Invested Assets and Investmen63

Invested Assets and Investment Income - Summary of Carrying Amount of Securitized Assets and Secured Borrowing Liabilities (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of securitized assets, mortgages and associated liabilities [Line Items]
Securitised Assets	CAD 3,512	CAD 2,788
Secured borrowing liabilities	3,523	2,782
HELOC securitization [Member]
Disclosure of securitized assets, mortgages and associated liabilities [Line Items]
Securitised Assets	2,032	1,770
CMB securitization [Member]
Disclosure of securitized assets, mortgages and associated liabilities [Line Items]
Securitised Assets	1,480	1,018
Securitized mortgages [Member]
Disclosure of securitized assets, mortgages and associated liabilities [Line Items]
Securitised Assets	3,504	2,780
Securitized mortgages [Member] | HELOC securitization [Member]
Disclosure of securitized assets, mortgages and associated liabilities [Line Items]
Securitised Assets	2,024	1,762
Securitized mortgages [Member] | CMB securitization [Member]
Disclosure of securitized assets, mortgages and associated liabilities [Line Items]
Securitised Assets	1,480	1,018
Restricted cash and short-term securities [Member]
Disclosure of securitized assets, mortgages and associated liabilities [Line Items]
Securitised Assets	8	8
Restricted cash and short-term securities [Member] | HELOC securitization [Member]
Disclosure of securitized assets, mortgages and associated liabilities [Line Items]
Securitised Assets	8	8
HELOC securitization [Member]
Disclosure of securitized assets, mortgages and associated liabilities [Line Items]
Secured borrowing liabilities	2,000	1,750
CMB securitization [Member]
Disclosure of securitized assets, mortgages and associated liabilities [Line Items]
Secured borrowing liabilities	CAD 1,523	CAD 1,032

Invested Assets and Investmen64

Invested Assets and Investment Income - Summary of Invested Assets and Segregated Funds Net Assets, Measured at Fair Value (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of fair value measurement of assets [Line Items]
Public equities	CAD 21,545	CAD 19,496
Debt securities	174,000	168,622
Real estate	13,810	14,132
Other invested assets	24,483	22,760
Segregated funds net assets	324,307	315,177
Total assets	729,533	720,681
FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	439	269
Public equities	18,473	16,531
AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	11,429	11,705
Public equities	3,072	2,965
Other cash and short-term securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	4,097	3,177
Real estate [Member]
Disclosure of fair value measurement of assets [Line Items]
Real estate	12,529	12,756
Other invested assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	16,203	14,849
Canadian government and agency [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	22,778	24,745
Canadian government and agency [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	17,886	18,030
Canadian government and agency [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	4,892	6,715
U.S. government and agency [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	12,497	13,971
U.S. government and agency [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	13,472	13,333
Other government and agency [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	19,826	20,941
Other government and agency [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	16,838	18,629
Other government and agency [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	2,988	2,312
Corporate [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	96,785	87,374
Corporate [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	5,366	5,041
Residential mortgage asset-backed securities [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	8	10
Residential mortgage asset-backed securities [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	37	65
Commercial mortgage asset-backed securities [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	1,099	680
Commercial mortgage asset-backed securities [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	138	123
Other securitized assets [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	1,911	2,196
Other securitized assets [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	83	143
Financial assets at fair value, class [Member]
Disclosure of fair value measurement of assets [Line Items]
Total assets	564,549	546,051
Level 1 [Member]
Disclosure of fair value measurement of assets [Line Items]
Segregated funds net assets	286,490	278,066
Level 1 [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Public equities	18,470	16,524
Level 1 [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Public equities	3,069	2,963
Level 1 [Member] | Other cash and short-term securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	4,097	3,177
Level 1 [Member] | Corporate [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	2	2
Level 1 [Member] | Financial assets at fair value, class [Member]
Disclosure of fair value measurement of assets [Line Items]
Total assets	312,128	300,732
Level 2 [Member]
Disclosure of fair value measurement of assets [Line Items]
Segregated funds net assets	33,562	32,537
Level 2 [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	439	269
Level 2 [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Cash and short-term securities	11,429	11,705
Public equities	3	2
Level 2 [Member] | Canadian government and agency [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	17,886	18,030
Level 2 [Member] | Canadian government and agency [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	4,892	6,715
Level 2 [Member] | U.S. government and agency [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	12,497	13,971
Level 2 [Member] | U.S. government and agency [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	13,472	13,333
Level 2 [Member] | Other government and agency [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	16,599	18,357
Level 2 [Member] | Other government and agency [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	2,941	2,261
Level 2 [Member] | Corporate [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	96,073	86,721
Level 2 [Member] | Corporate [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	5,278	4,967
Level 2 [Member] | Residential mortgage asset-backed securities [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	7	8
Level 2 [Member] | Residential mortgage asset-backed securities [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	37	64
Level 2 [Member] | Commercial mortgage asset-backed securities [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	1,099	674
Level 2 [Member] | Commercial mortgage asset-backed securities [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	138	121
Level 2 [Member] | Other securitized assets [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	1,886	2,161
Level 2 [Member] | Other securitized assets [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	82	141
Level 2 [Member] | Financial assets at fair value, class [Member]
Disclosure of fair value measurement of assets [Line Items]
Total assets	218,320	212,037
Level 3 [Member]
Disclosure of fair value measurement of assets [Line Items]
Segregated funds net assets	4,255	4,574
Total assets	34,101	33,282	CAD 33,096
Level 3 [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Public equities	3	7
Level 3 [Member] | Real estate [Member]
Disclosure of fair value measurement of assets [Line Items]
Real estate	12,529	12,756
Level 3 [Member] | Other invested assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets	16,203	14,849
Total assets	16,203	14,849	CAD 12,977
Level 3 [Member] | Other government and agency [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	239	272
Level 3 [Member] | Other government and agency [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	47	51
Level 3 [Member] | Corporate [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	710	651
Level 3 [Member] | Corporate [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	88	74
Level 3 [Member] | Residential mortgage asset-backed securities [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	1	2
Level 3 [Member] | Residential mortgage asset-backed securities [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities		1
Level 3 [Member] | Commercial mortgage asset-backed securities [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities		6
Level 3 [Member] | Commercial mortgage asset-backed securities [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities		2
Level 3 [Member] | Other securitized assets [Member] | FVTPL [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	25	35
Level 3 [Member] | Other securitized assets [Member] | AFS [Member]
Disclosure of fair value measurement of assets [Line Items]
Debt securities	1	2
Level 3 [Member] | Financial assets at fair value, class [Member]
Disclosure of fair value measurement of assets [Line Items]
Total assets	CAD 34,101	CAD 33,282

Invested Assets and Investmen65

Invested Assets and Investment Income - Summary of Invested Assets and Segregated Funds Net Assets, Measured at Fair Value (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Bottom of range [Member]
Disclosure of fair value measurement of assets [Line Items]
Investment properties capitalization rates	3.50%	3.75%
Investment properties terminal capitalization rates	4.00%	4.10%
Top of range [Member]
Disclosure of fair value measurement of assets [Line Items]
Investment properties capitalization rates	9.00%	9.75%
Investment properties terminal capitalization rates	9.25%	10.00%
Power and infrastructure [Member] | Bottom of range [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets fair value discount rate	9.20%	9.63%
Power and infrastructure [Member] | Top of range [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets fair value discount rate	16.50%	16.00%
Timberland Investment [Member] | Bottom of range [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets fair value discount rate	5.00%	5.00%
Timberland Investment [Member] | Top of range [Member]
Disclosure of fair value measurement of assets [Line Items]
Other invested assets fair value discount rate	7.50%	7.50%

Invested Assets and Investmen66

Invested Assets and Investment Income - Summary of Fair Values Categorized by the Fair Value Hierarchy (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Carrying value [Member]
Disclosure of financial assets [Line Items]
Carrying value	CAD 93,980	CAD 90,995
Carrying value [Member] | Mortgages [Member]
Disclosure of financial assets [Line Items]
Carrying value	44,742	44,193
Carrying value [Member] | Private placements [Member]
Disclosure of financial assets [Line Items]
Carrying value	32,132	29,729
Carrying value [Member] | Policy loans [Member]
Disclosure of financial assets [Line Items]
Carrying value	5,808	6,041
Carrying value [Member] | Loans to Bank clients [Member]
Disclosure of financial assets [Line Items]
Carrying value	1,737	1,745
Carrying value [Member] | Real estate own use property [Member]
Disclosure of financial assets [Line Items]
Carrying value	1,281	1,376
Carrying value [Member] | Other invested assets [Member]
Disclosure of financial assets [Line Items]
Carrying value	8,280	7,911
Fair value [Member]
Disclosure of financial assets [Line Items]
Total fair value	99,246	95,689
Fair value [Member] | Mortgages [Member]
Disclosure of financial assets [Line Items]
Total fair value	46,065	45,665
Fair value [Member] | Private placements [Member]
Disclosure of financial assets [Line Items]
Total fair value	34,581	31,459
Fair value [Member] | Policy loans [Member]
Disclosure of financial assets [Line Items]
Total fair value	5,808	6,041
Fair value [Member] | Loans to Bank clients [Member]
Disclosure of financial assets [Line Items]
Total fair value	1,742	1,746
Fair value [Member] | Real estate own use property [Member]
Disclosure of financial assets [Line Items]
Total fair value	2,448	2,524
Fair value [Member] | Other invested assets [Member]
Disclosure of financial assets [Line Items]
Total fair value	8,602	8,254
Level 1 [Member]
Disclosure of financial assets [Line Items]
Total fair value	88	54
Level 1 [Member] | Other invested assets [Member]
Disclosure of financial assets [Line Items]
Total fair value	88	54
Level 2 [Member]
Disclosure of financial assets [Line Items]
Total fair value	36,064	33,860
Level 2 [Member] | Private placements [Member]
Disclosure of financial assets [Line Items]
Total fair value	28,514	26,073
Level 2 [Member] | Policy loans [Member]
Disclosure of financial assets [Line Items]
Total fair value	5,808	6,041
Level 2 [Member] | Loans to Bank clients [Member]
Disclosure of financial assets [Line Items]
Total fair value	1,742	1,746
Level 3 [Member]
Disclosure of financial assets [Line Items]
Total fair value	63,094	61,775
Level 3 [Member] | Mortgages [Member]
Disclosure of financial assets [Line Items]
Total fair value	46,065	45,665
Level 3 [Member] | Private placements [Member]
Disclosure of financial assets [Line Items]
Total fair value	6,067	5,386
Level 3 [Member] | Real estate own use property [Member]
Disclosure of financial assets [Line Items]
Total fair value	2,448	2,524
Level 3 [Member] | Other invested assets [Member]
Disclosure of financial assets [Line Items]
Total fair value	CAD 8,514	CAD 8,200

Invested Assets and Investmen67

Invested Assets and Investment Income - Summary of Invested Assets and Segregated Funds Net Assets Measured at Fair Value Using Significant Unobservable Inputs (Level 3) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	CAD 720,681
Asset at end of period	729,533	CAD 720,681
Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	168,622
Asset at end of period	174,000	168,622
Public equities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	19,496
Asset at end of period	21,545	19,496
Level 3 [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	33,282	33,096
Net realized/unrealized gains (losses) included in net income	770	1,014
Net realized/unrealized gains (losses) included in net AOCI	1	10
Purchases	4,707	3,395
Sales	(2,077)	(2,407)
Settlements	(942)	(885)
Transfer into Level 3	25	46
Transfer out of Level 3	(205)	(242)
Currency Movement	(1,460)	(745)
Asset at end of period	34,101	33,282
Change in unrealized gains (losses) on assets still held	558	1,132
Level 3 [Member] | Other invested assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	14,849	12,977
Net realized/unrealized gains (losses) included in net income	395	786
Net realized/unrealized gains (losses) included in net AOCI		9
Purchases	3,022	2,171
Sales	(435)	(76)
Settlements	(837)	(685)
Currency Movement	(791)	(333)
Asset at end of period	16,203	14,849
Change in unrealized gains (losses) on assets still held	244	847
Level 3 [Member] | Public equities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	7
Purchases		7
Sales	(4)
Asset at end of period	3	7
Level 3 [Member] | Real estate and other [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	27,605	26,945
Net realized/unrealized gains (losses) included in net income	696	949
Net realized/unrealized gains (losses) included in net AOCI		9
Purchases	4,279	2,852
Sales	(1,702)	(1,858)
Settlements	(837)	(685)
Currency Movement	(1,309)	(607)
Asset at end of period	28,732	27,605
Change in unrealized gains (losses) on assets still held	508	1,044
Level 3 [Member] | Segregated funds net assets [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	4,574	4,656
Net realized/unrealized gains (losses) included in net income	60	92
Purchases	261	356
Sales	(248)	(312)
Settlements	(54)	(19)
Transfer into Level 3		(12)
Transfer out of Level 3	(184)	(105)
Currency Movement	(154)	(82)
Asset at end of period	4,255	4,574
Change in unrealized gains (losses) on assets still held	45	93
Level 3 [Member] | FVTPL [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	966	1,346
Net realized/unrealized gains (losses) included in net income	15	(26)
Purchases	131	133
Sales	(97)	(193)
Settlements	(43)	(176)
Transfer into Level 3	24	58
Transfer out of Level 3	(21)	(128)
Currency Movement		(48)
Asset at end of period	975	966
Change in unrealized gains (losses) on assets still held	5	(5)
Level 3 [Member] | FVTPL [Member] | Public equities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	7
Purchases		7
Sales	(4)
Asset at end of period	3	7
Level 3 [Member] | FVTPL [Member] | Other government and agency [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	272	310
Net realized/unrealized gains (losses) included in net income	(3)	3
Purchases	26	50
Sales	(58)	(41)
Settlements	(6)	(30)
Currency Movement	8	(20)
Asset at end of period	239	272
Change in unrealized gains (losses) on assets still held	(3)	1
Level 3 [Member] | FVTPL [Member] | Corporate [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	651	903
Net realized/unrealized gains (losses) included in net income	19	(29)
Purchases	105	83
Sales	(34)	(84)
Settlements	(29)	(134)
Transfer into Level 3	24	58
Transfer out of Level 3	(21)	(124)
Currency Movement	(5)	(22)
Asset at end of period	710	651
Change in unrealized gains (losses) on assets still held	10	(4)
Level 3 [Member] | FVTPL [Member] | Residential mortgage asset-backed securities [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	2	15
Sales		(11)
Settlements		(1)
Currency Movement	(1)	(1)
Asset at end of period	1	2
Change in unrealized gains (losses) on assets still held	(1)	1
Level 3 [Member] | FVTPL [Member] | Commercial mortgage asset-backed securities [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	6	70
Sales	(5)	(56)
Settlements	(1)	(4)
Currency Movement		(4)
Asset at end of period		6
Change in unrealized gains (losses) on assets still held		(3)
Level 3 [Member] | FVTPL [Member] | Other securitized assets [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	35	48
Net realized/unrealized gains (losses) included in net income	(1)
Sales		(1)
Settlements	(7)	(7)
Transfer out of Level 3		(4)
Currency Movement	(2)	(1)
Asset at end of period	25	35
Change in unrealized gains (losses) on assets still held	(1)
Level 3 [Member] | AFS [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	130	149
Net realized/unrealized gains (losses) included in net income	(1)	(1)
Net realized/unrealized gains (losses) included in net AOCI	1	1
Purchases	36	47
Sales	(26)	(44)
Settlements	(8)	(5)
Transfer into Level 3	1
Transfer out of Level 3		(9)
Currency Movement	3	(8)
Asset at end of period	136	130
Level 3 [Member] | AFS [Member] | Other government and agency [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	51	42
Net realized/unrealized gains (losses) included in net income	(1)
Net realized/unrealized gains (losses) included in net AOCI	(2)
Purchases	14	18
Sales	(15)	(6)
Settlements	(2)
Transfer into Level 3	1
Currency Movement	1	(3)
Asset at end of period	47	51
Level 3 [Member] | AFS [Member] | Corporate [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	74	90
Net realized/unrealized gains (losses) included in net AOCI	4	(2)
Purchases	22	29
Sales	(10)	(32)
Settlements	(4)	(3)
Transfer out of Level 3		(5)
Currency Movement	2	(3)
Asset at end of period	88	74
Level 3 [Member] | AFS [Member] | Residential mortgage asset-backed securities [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	1	8
Net realized/unrealized gains (losses) included in net income		(1)
Net realized/unrealized gains (losses) included in net AOCI	(1)	1
Sales		(6)
Currency Movement		(1)
Asset at end of period		1
Level 3 [Member] | AFS [Member] | Commercial mortgage asset-backed securities [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	2	4
Sales	(1)
Settlements	(1)	(1)
Currency Movement		(1)
Asset at end of period		2
Level 3 [Member] | AFS [Member] | Other securitized assets [Member] | Debt securities [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	2	5
Net realized/unrealized gains (losses) included in net AOCI		2
Settlements	(1)	(1)
Transfer out of Level 3		(4)
Asset at end of period	1	2
Level 3 [Member] | Real estate [Member] | Investment property [Member]
Disclosure of fair value measurement of assets [Line Items]
Asset Beginning of period	12,756	13,968
Net realized/unrealized gains (losses) included in net income	301	163
Purchases	1,257	681
Sales	(1,267)	(1,782)
Currency Movement	(518)	(274)
Asset at end of period	12,529	12,756
Change in unrealized gains (losses) on assets still held	CAD 264	CAD 197

Invested Assets and Investmen68

Invested Assets and Investment Income - Summary of Invested Assets and Segregated Funds Net Assets Measured at Fair Value Using Significant Unobservable Inputs (Level 3) (Parenthetical) (Detail) - U.S. Real Estate Investment Trust [Member] - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of fair value measurement of assets [Line Items]
Percentage of unitholder voting rights	9.50%
Hancock US Real Estate Trust Fund, L.P. [Member]
Disclosure of fair value measurement of assets [Line Items]
Percentage of ownership of partnership interests	11.70%
U.S. Commercial Real Estate [Member] | Hancock US Real Estate Trust Fund, L.P. [Member]
Disclosure of fair value measurement of assets [Line Items]
Gain on sale of investments	CAD 619
U.S. Commercial Real Estate [Member] | Singapore [Member]
Disclosure of fair value measurement of assets [Line Items]
Gain on sale of investments	CAD 313	CAD 1,011

Derivative and Hedging Instru69

Derivative and Hedging Instruments - Summary of Gross Notional Amount and Fair Value of Derivative Contracts (Detail) - CAD	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about hedges [Line Items]
Notional amount	CAD 336,773,000,000	CAD 370,198,000,000
Fair value, assets	15,569,000,000	23,672,000,000
Fair value, liabilities	7,822,000,000	14,151,000,000
Designated [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	2,679,000,000	3,915,000,000
Designated [Member] | Fair value hedges [Member] | Interest rate swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	548,000,000	2,158,000,000
Designated [Member] | Fair value hedges [Member] | Foreign currency swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	84,000,000	91,000,000
Designated [Member] | Cash flow hedges [Member] | Foreign currency swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	1,757,000,000	1,285,000,000
Designated [Member] | Cash flow hedges [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	165,000,000	255,000,000
Designated [Member] | Cash flow hedges [Member] | Equity contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	125,000,000	126,000,000
Non designated [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	334,094,000,000	366,283,000,000
Non designated [Member] | Interest rate swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	246,270,000,000	281,188,000,000
Non designated [Member] | Foreign currency swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	16,321,000,000	12,226,000,000
Non designated [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	20,341,000,000	15,411,000,000
Non designated [Member] | Equity contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	13,597,000,000	14,989,000,000
Non designated [Member] | Interest rate futures [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	11,551,000,000	11,616,000,000
Non designated [Member] | Interest rate options [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	10,093,000,000	9,390,000,000
Non designated [Member] | Currency rate futures [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	3,157,000,000	4,729,000,000
Non designated [Member] | Credit default swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	606,000,000	662,000,000
Non designated [Member] | Equity futures [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	12,158,000,000	16,072,000,000
Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	15,569,000,000	23,672,000,000
Fair value, liabilities	7,822,000,000	14,151,000,000
Fair value [Member] | Interest rate swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	14,199,000,000	22,602,000,000
Fair value, liabilities	6,309,000,000	11,984,000,000
Fair value [Member] | Equity contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	829,000,000	690,000,000
Fair value, liabilities	23,000,000	34,000,000
Fair value [Member] | Credit default swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	14,000,000	18,000,000
Fair value [Member] | Designated [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	37,000,000	22,000,000
Fair value, liabilities	362,000,000	951,000,000
Fair value [Member] | Designated [Member] | Fair value hedges [Member] | Interest rate swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, liabilities	20,000,000	477,000,000
Fair value [Member] | Designated [Member] | Fair value hedges [Member] | Foreign currency swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	1,000,000	1,000,000
Fair value, liabilities	4,000,000	3,000,000
Fair value [Member] | Designated [Member] | Cash flow hedges [Member] | Foreign currency swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	20,000,000
Fair value, liabilities	333,000,000	447,000,000
Fair value [Member] | Designated [Member] | Cash flow hedges [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, liabilities	4,000,000	23,000,000
Fair value [Member] | Designated [Member] | Cash flow hedges [Member] | Equity contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	16,000,000	21,000,000
Fair value, liabilities	1,000,000	1,000,000
Fair value [Member] | Non designated [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	15,532,000,000	23,650,000,000
Fair value, liabilities	7,460,000,000	13,200,000,000
Fair value [Member] | Non designated [Member] | Interest rate swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	12,984,000,000	21,900,000,000
Fair value, liabilities	6,251,000,000	10,878,000,000
Fair value [Member] | Non designated [Member] | Foreign currency swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	494,000,000	347,000,000
Fair value, liabilities	1,122,000,000	1,645,000,000
Fair value [Member] | Non designated [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	915,000,000	340,000,000
Fair value, liabilities	65,000,000	644,000,000
Fair value [Member] | Non designated [Member] | Equity contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	813,000,000	669,000,000
Fair value, liabilities	22,000,000	33,000,000
Fair value [Member] | Non designated [Member] | Interest rate options [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	312,000,000	376,000,000
Fair value [Member] | Non designated [Member] | Credit default swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Fair value, assets	CAD 14,000,000	CAD 18,000,000

Derivative and Hedging Instru70

Derivative and Hedging Instruments - Summary of Fair Value of Derivative Instruments by Remaining Term to Maturity (Detail) - CAD	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about hedges [Line Items]
Derivative assets	CAD 15,569,000,000	CAD 23,672,000,000
Derivative liabilities	7,822,000,000	14,151,000,000
Remaining term to maturity (notional amounts)	336,773,000,000	370,198,000,000
Credit risk equivalent	12,262,000,000	15,638,000,000
Risk- weighted amount	1,457,000,000	2,194,000,000
Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	15,569,000,000	23,672,000,000
Derivative liabilities	7,822,000,000	14,151,000,000
Fair value, net	7,747,000,000	9,521,000,000
Interest rate swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	285,787,000,000	318,597,000,000
Credit risk equivalent	7,344,000,000	10,855,000,000
Risk- weighted amount	905,000,000	1,592,000,000
Interest rate swaps [Member] | OTC swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	138,714,000,000	214,891,000,000
Credit risk equivalent	6,588,000,000	10,205,000,000
Risk- weighted amount	809,000,000	1,493,000,000
Interest rate swaps [Member] | Cleared swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	108,104,000,000	68,455,000,000
Interest rate swaps [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	17,325,000,000	14,245,000,000
Credit risk equivalent	285,000,000	192,000,000
Risk- weighted amount	35,000,000	29,000,000
Interest rate swaps [Member] | Futures [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	11,551,000,000	11,616,000,000
Interest rate swaps [Member] | Options purchased [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	10,093,000,000	9,390,000,000
Credit risk equivalent	471,000,000	458,000,000
Risk- weighted amount	61,000,000	70,000,000
Interest rate swaps [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	14,839,000,000	23,536,000,000
Derivative liabilities	7,111,000,000	12,900,000,000
Fair value, net	7,728,000,000	10,636,000,000
Interest rate swaps [Member] | Fair value [Member] | OTC swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	13,379,000,000	19,327,000,000
Derivative liabilities	6,867,000,000	10,154,000,000
Fair value, net	6,512,000,000	9,173,000,000
Interest rate swaps [Member] | Fair value [Member] | Cleared swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	245,000,000	3,507,000,000
Derivative liabilities	206,000,000	2,117,000,000
Fair value, net	39,000,000	1,390,000,000
Interest rate swaps [Member] | Fair value [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	903,000,000	326,000,000
Derivative liabilities	38,000,000	629,000,000
Fair value, net	865,000,000	(303,000,000)
Interest rate swaps [Member] | Fair value [Member] | Options purchased [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	312,000,000	376,000,000
Fair value, net	312,000,000	376,000,000
Foreign exchange [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	3,181,000,000	1,422,000,000
Credit risk equivalent	101,000,000	62,000,000
Risk- weighted amount	12,000,000	9,000,000
Foreign exchange [Member] | Futures [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	3,157,000,000	4,729,000,000
Foreign exchange [Member] | Swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	18,162,000,000	13,601,000,000
Credit risk equivalent	1,874,000,000	1,491,000,000
Risk- weighted amount	200,000,000	181,000,000
Foreign exchange [Member] | Fair value [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	12,000,000	13,000,000
Derivative liabilities	31,000,000	38,000,000
Fair value, net	(19,000,000)	(25,000,000)
Foreign exchange [Member] | Fair value [Member] | Swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	510,000,000	346,000,000
Derivative liabilities	1,483,000,000	2,120,000,000
Fair value, net	(973,000,000)	(1,774,000,000)
Credit derivatives [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	606,000,000	662,000,000
Credit derivatives [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	14,000,000	18,000,000
Fair value, net	14,000,000	18,000,000
Equity contracts [Member] | Futures [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	12,158,000,000	16,072,000,000
Equity contracts [Member] | Options purchased [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	10,941,000,000	11,816,000,000
Credit risk equivalent	2,606,000,000	2,735,000,000
Risk- weighted amount	305,000,000	358,000,000
Equity contracts [Member] | Swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	2,781,000,000	3,299,000,000
Credit risk equivalent	337,000,000	495,000,000
Risk- weighted amount	35,000,000	54,000,000
Equity contracts [Member] | Fair value [Member] | Options purchased [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	769,000,000	626,000,000
Derivative liabilities	10,000,000	2,000,000
Fair value, net	759,000,000	624,000,000
Equity contracts [Member] | Fair value [Member] | Swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	60,000,000	64,000,000
Derivative liabilities	14,000,000	35,000,000
Fair value, net	46,000,000	29,000,000
Financial Instruments [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	336,773,000,000	370,198,000,000
Credit risk equivalent	12,262,000,000	15,638,000,000
Risk- weighted amount	1,457,000,000	2,194,000,000
Financial Instruments [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	16,204,000,000	24,603,000,000
Derivative liabilities	8,649,000,000	15,095,000,000
Fair value, net	7,555,000,000	9,508,000,000
Accrued interest [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	635,000,000	931,000,000
Derivative liabilities	827,000,000	944,000,000
Fair value, net	(192,000,000)	(13,000,000)
Less than 1 year [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	605,000,000	467,000,000
Derivative liabilities	224,000,000	593,000,000
Remaining term to maturity (notional amounts)	53,882,000,000	64,933,000,000
Less than 1 year [Member] | Interest rate swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	27,179,000,000	33,289,000,000
Less than 1 year [Member] | Interest rate swaps [Member] | OTC swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	7,161,000,000	13,244,000,000
Less than 1 year [Member] | Interest rate swaps [Member] | Cleared swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	1,615,000,000	717,000,000
Less than 1 year [Member] | Interest rate swaps [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	6,036,000,000	7,229,000,000
Less than 1 year [Member] | Interest rate swaps [Member] | Futures [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	11,551,000,000	11,616,000,000
Less than 1 year [Member] | Interest rate swaps [Member] | Options purchased [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	816,000,000	483,000,000
Less than 1 year [Member] | Foreign exchange [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	3,046,000,000	1,257,000,000
Less than 1 year [Member] | Foreign exchange [Member] | Futures [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	3,157,000,000	4,729,000,000
Less than 1 year [Member] | Foreign exchange [Member] | Swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	999,000,000	425,000,000
Less than 1 year [Member] | Credit derivatives [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	38,000,000	47,000,000
Less than 1 year [Member] | Equity contracts [Member] | Futures [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	12,158,000,000	16,072,000,000
Less than 1 year [Member] | Equity contracts [Member] | Options purchased [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	4,693,000,000	6,007,000,000
Less than 1 year [Member] | Equity contracts [Member] | Swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	2,612,000,000	3,107,000,000
Less than 1 year [Member] | Financial Instruments [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	53,882,000,000	64,933,000,000
1 to 3 years [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	822,000,000	680,000,000
Derivative liabilities	149,000,000	595,000,000
3 to 5 years [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	889,000,000	719,000,000
Derivative liabilities	168,000,000	511,000,000
1 to 5 years [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	58,040,000,000	61,949,000,000
1 to 5 years [Member] | Interest rate swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	46,539,000,000	51,251,000,000
1 to 5 years [Member] | Interest rate swaps [Member] | OTC swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	19,141,000,000	37,395,000,000
1 to 5 years [Member] | Interest rate swaps [Member] | Cleared swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	12,928,000,000	4,786,000,000
1 to 5 years [Member] | Interest rate swaps [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	10,614,000,000	6,143,000,000
1 to 5 years [Member] | Interest rate swaps [Member] | Options purchased [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	3,856,000,000	2,927,000,000
1 to 5 years [Member] | Foreign exchange [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	135,000,000	165,000,000
1 to 5 years [Member] | Foreign exchange [Member] | Swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	4,481,000,000	3,917,000,000
1 to 5 years [Member] | Credit derivatives [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	568,000,000	615,000,000
1 to 5 years [Member] | Equity contracts [Member] | Options purchased [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	6,148,000,000	5,809,000,000
1 to 5 years [Member] | Equity contracts [Member] | Swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	169,000,000	192,000,000
1 to 5 years [Member] | Financial Instruments [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	58,040,000,000	61,949,000,000
Over 5 years [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative assets	13,253,000,000	21,806,000,000
Derivative liabilities	7,281,000,000	12,452,000,000
Remaining term to maturity (notional amounts)	224,851,000,000	243,316,000,000
Over 5 years [Member] | Interest rate swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	212,069,000,000	234,057,000,000
Over 5 years [Member] | Interest rate swaps [Member] | OTC swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	112,412,000,000	164,252,000,000
Over 5 years [Member] | Interest rate swaps [Member] | Cleared swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	93,561,000,000	62,952,000,000
Over 5 years [Member] | Interest rate swaps [Member] | Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	675,000,000	873,000,000
Over 5 years [Member] | Interest rate swaps [Member] | Options purchased [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	5,421,000,000	5,980,000,000
Over 5 years [Member] | Foreign exchange [Member] | Swap contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	12,682,000,000	9,259,000,000
Over 5 years [Member] | Equity contracts [Member] | Options purchased [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	100,000,000
Over 5 years [Member] | Financial Instruments [Member]
Disclosure of detailed information about hedges [Line Items]
Remaining term to maturity (notional amounts)	CAD 224,851,000,000	CAD 243,316,000,000

Derivative and Hedging Instru71

Derivative and Hedging Instruments - Additional Information (Detail) - CAD	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about hedges [Line Items]
Notional amount	CAD 336,773,000,000	CAD 370,198,000,000
Fair value of reinsurance ceded guaranteed minimum income benefits	1,079,000,000	1,408,000,000
Fair value of reinsurance assumed guaranteed minimum income benefits	100,000,000	119,000,000
Fair value of credit and interest rate embedded derivatives	123,000,000	218,000,000
Shareholders' accumulated other comprehensive income (loss) ("AOCI") [Member]
Disclosure of detailed information about hedges [Line Items]
Net loss that will be reclassified from AOCI to net income within next 12 months	CAD 13,000,000
Maximum time frame for which variable cash flows are hedged	19 years
Variable annuity guarantee dynamic hedging and macro equity risk hedging programs [Member]
Disclosure of detailed information about hedges [Line Items]
Notional amount	CAD 114,000,000,000	CAD 177,000,000,000

Derivative and Hedging Instru72

Derivative and Hedging Instruments - Summary of Fair Value of Derivative Contracts (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	CAD 15,569	CAD 23,672
Total derivative liabilities	7,822	14,151
Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	15,569	23,672
Total derivative liabilities	7,822	14,151
Interest rate swaps [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	14,199	22,602
Total derivative liabilities	6,309	11,984
Foreign Exchange Contract [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	527	362
Total derivative liabilities	1,490	2,133
Equity contracts [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	829	690
Total derivative liabilities	23	34
Credit default swaps [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	14	18
Level 2 [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	14,490	22,606
Total derivative liabilities	7,512	13,248
Level 2 [Member] | Interest rate swaps [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	13,181	22,045
Total derivative liabilities	6,012	11,114
Level 2 [Member] | Foreign Exchange Contract [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	527	361
Total derivative liabilities	1,490	2,133
Level 2 [Member] | Equity contracts [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	768	182
Total derivative liabilities	10	1
Level 2 [Member] | Credit default swaps [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	14	18
Level 3 [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	1,079	1,066
Total derivative liabilities	310	903
Level 3 [Member] | Interest rate swaps [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	1,018	557
Total derivative liabilities	297	870
Level 3 [Member] | Foreign Exchange Contract [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets		1
Level 3 [Member] | Equity contracts [Member] | Fair value [Member]
Disclosure of detailed information about hedges [Line Items]
Total derivative assets	61	508
Total derivative liabilities	CAD 13	CAD 33

Derivative and Hedging Instru73

Derivative and Hedging Instruments - Net Derivative Significant Unobservable Inputs Used in Fair Value Measurement (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Roll forwards for net derivative contracts measured at fair value using significant unobservable inputs abstract
Balance at the beginning of the year	CAD 163	CAD 350
Net income	1,082	47
OCI	(9)	40
Purchases	22	373
Settlements	(103)	(522)
Into Level 3	0	0
Out of Level 3	(363)	(116)
Currency movement	(23)	(9)
Balance at the end of the year	769	163
Change in unrealized gains (losses) on instruments still held	CAD 832	CAD 145

Derivative and Hedging Instru74

Derivative and Hedging Instruments - Summary of Recognized Gains Losses on Derivatives and Hedged Items in Fair Value Hedges in Investment Income (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about hedges [Line Items]
Gains (losses) recognized on derivatives	CAD 832	CAD 145
Fair value hedges [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) recognized on derivatives	(17)	(53)
Gains (losses) recognized for hedged items	18	33
Ineffectiveness recognized in investment income	1	(20)
Fair value hedges [Member] | Interest rate swaps [Member] | Fixed rate assets [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) recognized on derivatives	2	(52)
Gains (losses) recognized for hedged items	(3)	30
Ineffectiveness recognized in investment income	(1)	(22)
Fair value hedges [Member] | Interest rate swaps [Member] | Fixed rate liabilities [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) recognized on derivatives	(17)	(1)
Gains (losses) recognized for hedged items	17	1
Fair value hedges [Member] | Foreign currency swaps [Member] | Fixed rate assets [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) recognized on derivatives	(2)
Gains (losses) recognized for hedged items	4	2
Ineffectiveness recognized in investment income	CAD 2	CAD 2

Derivative and Hedging Instru75

Derivative and Hedging Instruments - Summary of Effects of Derivatives in Cash Flow Hedging Relationships (Detail) - Cash flow hedges [Member] - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about hedges [Line Items]
Gains (losses) deferred in AOCI on derivatives	CAD 163	CAD 74
Gains (losses) reclassified from AOCI into investment income	58	(15)
Ineffectiveness recognized in investment income	0	0
Interest rate swaps [Member] | Forecasted liabilities [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) reclassified from AOCI into investment income	(17)	(18)
Ineffectiveness recognized in investment income	0	0
Foreign currency swaps [Member] | Fixed rate assets [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) deferred in AOCI on derivatives	3	(4)
Gains (losses) reclassified from AOCI into investment income	(1)
Ineffectiveness recognized in investment income	0	0
Foreign currency swaps [Member] | Floating rate liabilities [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) deferred in AOCI on derivatives	95	47
Gains (losses) reclassified from AOCI into investment income	50	23
Ineffectiveness recognized in investment income	0	0
Foreign currency swaps [Member] | Fixed rate liabilities [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) deferred in AOCI on derivatives	35	(15)
Gains (losses) reclassified from AOCI into investment income	7	(8)
Ineffectiveness recognized in investment income	0	0
Forward contracts [Member] | Forecasted expenses [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) deferred in AOCI on derivatives	10	7
Gains (losses) reclassified from AOCI into investment income	(10)	(14)
Ineffectiveness recognized in investment income	0	0
Equity contracts [Member] | Stock-based compensation [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) deferred in AOCI on derivatives	20	39
Gains (losses) reclassified from AOCI into investment income	29	(1)
Ineffectiveness recognized in investment income	CAD 0	0
Non-derivative financial instrument [Member] | Forecasted expenses [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) reclassified from AOCI into investment income		3
Ineffectiveness recognized in investment income		CAD 0

Derivative and Hedging Instru76

Derivative and Hedging Instruments - Summary of Effects of Net Investment Hedging Relationships (Detail) - Hedges of net investment in foreign operations [Member] - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about hedges [Line Items]
Gains (losses) deferred in AOCI on derivatives	CAD 355	CAD (25)
Gains (losses) reclassified from AOCI into investment income	0	0
Ineffectiveness recognized in investment income	0	0
Non-functional currency denominated debt [Member]
Disclosure of detailed information about hedges [Line Items]
Gains (losses) deferred in AOCI on derivatives	355	(25)
Gains (losses) reclassified from AOCI into investment income	0	0
Ineffectiveness recognized in investment income	CAD 0	CAD 0

Derivative and Hedging Instru77

Derivative and Hedging Instruments - Summary of Effects of Derivatives Not Designated in Qualifying Hedge Accounting Relationships (Detail) - Non designated [Member] - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about hedges [Line Items]
Derivative investment income (loss)	CAD (1,024)	CAD (2,574)
Interest rate swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative investment income (loss)	(927)	(141)
Interest rate futures [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative investment income (loss)	372	(26)
Interest rate options [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative investment income (loss)	(96)	(11)
Foreign currency swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative investment income (loss)	529	(14)
Currency rate futures [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative investment income (loss)	(92)	263
Forward contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative investment income (loss)	1,231	(88)
Equity futures [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative investment income (loss)	(2,190)	(2,387)
Equity contracts [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative investment income (loss)	153	(171)
Credit default swaps [Member]
Disclosure of detailed information about hedges [Line Items]
Derivative investment income (loss)	CAD (4)	CAD 1

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Recovery) Recognized in Consolidated Statements of Income (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Current tax
Current year	CAD 608	CAD 659
Adjustments to prior year	(38)	(228)
Current tax	570	431
Deferred tax
Change related to temporary differences	(803)	(235)
Impact of U.S. Tax Reform	472
Income tax expense	CAD 239	CAD 196

Income Taxes - Components of 79

Income Taxes - Components of Income Tax Expense (Recovery) Recognized in Other Comprehensive Income ("OCI") (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Major components of tax expense (income) [abstract]
Current income tax expense (recovery)	CAD 116	CAD (72)
Deferred income tax expense (recovery)	320	(25)
Total income tax expense (recovery)	CAD 436	CAD (97)

Income Taxes - Components of 80

Income Taxes - Components of Income Tax Expense (Recovery) Recognized in Equity (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Major components of tax expense (income) [abstract]
Current income tax expense (recovery)		CAD (2)
Deferred income tax expense (recovery)	CAD (2)	(2)
Income tax expense (recovery)	CAD (2)	CAD (4)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - CAD CAD in Millions	Dec. 22, 2017	Dec. 31, 2017	Dec. 31, 2016
Major components of tax expense (income) [abstract]
Effective income tax rate		26.75%	26.75%
Provisional charge for the estimated impact of U.S. Tax Reform, after-tax	CAD 1,800
Current tax receivable		CAD 778	CAD 446
Current tax payable		178	387
Deferred tax assets		4,569	4,439
Deferred tax assets - recognition dependent on future taxable profits		4,527	4,403
Operating tax loss carry forward		3,164	3,556
Operating tax loss carry forward expired in future		2,109
Operating tax loss carry forward without expiration date		159
Capital tax loss carry forward		8	9
Tax benefit on loss carry forwards for which deferred tax asset recognized		596	942
Tax benefit of loss carry forwards for which no deferred tax asset recognized		171	139
Tax credit carry forwards which expire in future		606	1,039
Tax credit carryforwards of which benefit not recognized		CAD 152	164
Tax credit/Loss carryforwards expiration period		Between the years 2020 and 2037
Deferred tax liability		CAD 1,281	1,359
Aggregate amount of taxable temporary differences associated with the Company's own investments in subsidiaries, not included in financial statements		CAD 11,780	CAD 13,102

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Income Tax Expense (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Income before income taxes	CAD 2,501	CAD 3,329
Income tax expense at Canadian statutory tax rate	669	890
Increase (decrease) in income taxes due to:
Tax-exempt investment income	(242)	(229)
Differences in tax rate on income not subject to tax in Canada	(551)	(366)
Recovery of unrecognized tax losses of prior years		(10)
Adjustments to taxes related to prior years	(182)	(206)
Tax losses and temporary differences not recognized as deferred taxes	14	22
Impact of U.S. Tax Reform	472
Other differences	59	95
Income tax expense	CAD 239	CAD 196

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets and liabilities [abstract]
Deferred tax assets	CAD 4,569	CAD 4,439
Deferred tax liabilities	(1,281)	(1,359)
Net deferred tax assets	CAD 3,288	CAD 3,080	CAD 2,832

Income Taxes - Significant Comp

Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	CAD 3,080	CAD 2,832
Recognized in Income Statement	331	235
Recognized in Other Comprehensive Income	(320)	25
Recognized in Equity	2	2
Translation and Other	195	(14)
Ending balance	3,288	3,080
Loss carry forwards [Member]
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	942	1,493
Recognized in Income Statement	(311)	(515)
Recognized in Equity	3
Translation and Other	(38)	(36)
Ending balance	596	942
Actuarial liabilities [Member]
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	9,366	9,448
Recognized in Income Statement	(1,053)	244
Recognized in Other Comprehensive Income	(17)	(5)
Recognized in Equity		(116)
Translation and Other	(418)	(205)
Ending balance	7,878	9,366
Pensions and post-employment benefits [Member]
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	352	329
Recognized in Income Statement	(87)	100
Recognized in Other Comprehensive Income	(54)	(79)
Translation and Other	(3)	2
Ending balance	208	352
Tax credits [Member]
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	875	750
Recognized in Income Statement	(369)	147
Translation and Other	(52)	(22)
Ending balance	454	875
Accrued interest [Member]
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	17	121
Recognized in Income Statement	(12)	(100)
Recognized in Equity	(3)
Translation and Other	(1)	(4)
Ending balance	1	17
Real estate [Member]
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	(1,396)	(1,812)
Recognized in Income Statement	284	373
Recognized in Other Comprehensive Income	(9)
Translation and Other	59	43
Ending balance	(1,062)	(1,396)
Securities and other investments [Member]
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	(6,064)	(6,218)
Recognized in Income Statement	2,172	(243)
Recognized in Other Comprehensive Income	(239)	113
Recognized in Equity		112
Translation and Other	324	172
Ending balance	(3,807)	(6,064)
Sale of investments [Member]
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	(163)	(200)
Recognized in Income Statement	58	37
Ending balance	(105)	(163)
Goodwill and intangible assets [Member]
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	(1,059)	(1,138)
Recognized in Income Statement	197	58
Translation and Other	37	21
Ending balance	(825)	(1,059)
Other [Member]
Reconciliation of changes in deferred tax liability (asset) [Line Items]
Beginning balance	210	59
Recognized in Income Statement	(548)	134
Recognized in Other Comprehensive Income	(1)	(4)
Recognized in Equity	2	6
Translation and Other	287	15
Ending balance	CAD (50)	CAD 210

Goodwill and Intangible Asset85

Goodwill and Intangible Assets - Summary of Carrying Amounts of Goodwill and Intangible Assets (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Goodwill Beginning balance	CAD 5,884	CAD 5,685
Total intangible assets Beginning balance	4,223	3,699
Goodwill Additions/ disposals		256
Total intangible assets Additions/ Disposals	306	840
Effect of changes in foreign exchange rates	(171)	(57)
Goodwill Ending balance	5,713	5,884
Total goodwill and intangible assets Beginning balance	10,107	9,384
Total goodwill and intangible assets Additions/ Disposals	306	1,096
Amortization expense	229	234
Effect of changes in foreign exchange rates	(344)	(139)
Effect of changes in foreign exchange rates - Total intangible assets	(173)	(82)
Total goodwill and intangible assets Ending balance	9,840	10,107
Total intangible assets Ending balance	4,127	4,223
Distribution networks [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Total intangible assets Beginning balance	1,093	726
Total intangible assets Additions/ Disposals		450
Amortization expense	47	50
Effect of changes in foreign exchange rates - Total intangible assets	(57)	(33)
Total intangible assets Ending balance	989	1,093
Customer relationships [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Total intangible assets Beginning balance	969	947
Total intangible assets Additions/ Disposals		79
Amortization expense	56	53
Effect of changes in foreign exchange rates - Total intangible assets	(14)	(4)
Total intangible assets Ending balance	899	969
Software [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Total intangible assets Beginning balance	494	396
Total intangible assets Additions/ Disposals	306	229
Amortization expense	121	126
Effect of changes in foreign exchange rates - Total intangible assets	(18)	(5)
Total intangible assets Ending balance	661	494
Other [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Total intangible assets Beginning balance	77	76
Total intangible assets Additions/ Disposals		6
Amortization expense	5	5
Effect of changes in foreign exchange rates - Total intangible assets	(2)
Total intangible assets Ending balance	70	77
Finite life intangible assets [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Total intangible assets Beginning balance	2,633	2,145
Total intangible assets Additions/ Disposals	306	764
Amortization expense	229	234
Effect of changes in foreign exchange rates - Total intangible assets	(91)	(42)
Total intangible assets Ending balance	2,619	2,633
Brand [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Total intangible assets Beginning balance	805	831
Effect of changes in foreign exchange rates - Total intangible assets	(52)	(26)
Total intangible assets Ending balance	753	805
Fund management contracts and other [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Total intangible assets Beginning balance	785	723
Total intangible assets Additions/ Disposals		76
Effect of changes in foreign exchange rates - Total intangible assets	(30)	(14)
Total intangible assets Ending balance	755	785
Indefinite life intangible assets [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Total intangible assets Beginning balance	1,590	1,554
Total intangible assets Additions/ Disposals		76
Effect of changes in foreign exchange rates - Total intangible assets	(82)	(40)
Total intangible assets Ending balance	CAD 1,508	CAD 1,590

Goodwill and Intangible Asset86

Goodwill and Intangible Assets - Summary of Carrying Amounts of Goodwill and Intangible Assets (Parenthetical) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Intangible assets ending balance	CAD 4,127	CAD 4,223	CAD 3,699
Additions of goodwill		256
Additions of intangible assets	306	840
John Hancock Investments and Retirement Plan Services [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Additions of goodwill		3
Fund management contracts and other [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Intangible assets ending balance	755	785	723
Additions of intangible assets		76
Fund management contracts and other [Member] | John Hancock Investments and Retirement Plan Services [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Intangible assets ending balance	367	393
Fund management contracts and other [Member] | Canadian Wealth (excluding Manulife Bank of Canada) [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Intangible assets ending balance	273	273
Distribution networks [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Intangible assets ending balance	989	1,093	726
Additions of intangible assets		450
Distribution networks [Member] | U.S [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Impairments of intangible assets	150
Customer relationships [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Intangible assets ending balance	899	969	947
Additions of intangible assets		79
Software [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Intangible assets ending balance	661	494	396
Additions of intangible assets	306	229
Other [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Intangible assets ending balance	70	77	CAD 76
Additions of intangible assets		6
Standard Chartered's MPF [Member] | Distribution networks [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Additions of goodwill	194
Additions of intangible assets	193
Transamerica's broker - dealer business [Member] | Distribution networks [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Additions of goodwill	59
Additions of intangible assets	26
DBS Bank Ltd [Member] | Distribution networks [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Network intangible recognized	536
Gross Carrying Value [Member] | Distribution networks [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Gross carrying amount of finite life intangible assets	1,294	1,363
Gross Carrying Value [Member] | Customer relationships [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Gross carrying amount of finite life intangible assets	1,128	1,142
Gross Carrying Value [Member] | Software [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Gross carrying amount of finite life intangible assets	1,841	1,581
Gross Carrying Value [Member] | Other [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items]
Gross carrying amount of finite life intangible assets	CAD 126	CAD 133

Goodwill and Intangible Asset87

Goodwill and Intangible Assets - Summary of Impairment Testing of Goodwill (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	CAD 5,884	CAD 5,685
Goodwill Additions/ disposals		256
Effect of changes in foreign exchange rates	(171)	(57)
Goodwill Ending balance	5,713	5,884
Asia excluding Hong Kong and Japan [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	160	166
Effect of changes in foreign exchange rates	(6)	(6)
Goodwill Ending balance	154	160
Hong Kong [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	194
Goodwill Additions/ disposals		194
Effect of changes in foreign exchange rates	(14)
Goodwill Ending balance	180	194
Japan Insurance and Wealth [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	403	404
Effect of changes in foreign exchange rates	(12)	(1)
Goodwill Ending balance	391	403
Canadian Individual Life [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	155	155
Goodwill Ending balance	155	155
Canadian Affinity Markets [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	83	83
Goodwill Ending balance	83	83
Canadian Wealth (excluding Manulife Bank of Canada) [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	1,085	1,085
Goodwill Ending balance	1,085	1,085
Canadian Group Benefits and Group Retirement Solutions [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	1,773	1,773
Goodwill Ending balance	1,773	1,773
International Group Program [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	90	93
Effect of changes in foreign exchange rates	(6)	(3)
Goodwill Ending balance	84	90
John Hancock Insurance [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	428	378
Goodwill Additions/ disposals		59
Effect of changes in foreign exchange rates	(28)	(9)
Goodwill Ending balance	400	428
John Hancock Investments and Retirement Plan Services [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	1,220	1,254
Goodwill Additions/ disposals		3
Effect of changes in foreign exchange rates	(99)	(37)
Goodwill Ending balance	1,121	1,220
Manulife Asset Management and Other [Member]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill Beginning balance	293	294
Effect of changes in foreign exchange rates	(6)	(1)
Goodwill Ending balance	CAD 287	CAD 293

Goodwill and Intangible Asset88

Goodwill and Intangible Assets - Additional Information (Detail) - Multiple	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Canada [Member]
Disclosure of detailed information about intangible assets [Line Items]
Tax rate applied to cash flow projections	26.80%	26.80%
U.S [Member]
Disclosure of detailed information about intangible assets [Line Items]
Tax rate applied to cash flow projections	35.00%	35.00%
Japan [Member]
Disclosure of detailed information about intangible assets [Line Items]
Tax rate applied to cash flow projections	28.10%	28.20%
Bottom of range [Member]
Disclosure of detailed information about intangible assets [Line Items]
Price-to-earnings multiples	10.6	10.3
Growth rate used to extrapolate cash flow projections	(5.00%)	(5.00%)
After-tax discount rate applied to cash flow projections	9.00%	9.00%
Pre-tax discount rate applied to cash flow projections	11.00%	11.00%
Top of range [Member]
Disclosure of detailed information about intangible assets [Line Items]
Price-to-earnings multiples	14.8	13.8
Growth rate used to extrapolate cash flow projections	15.00%	15.00%
After-tax discount rate applied to cash flow projections	14.00%	14.00%
Pre-tax discount rate applied to cash flow projections	15.00%	15.00%

Insurance Contract Liabilitie89

Insurance Contract Liabilities and Reinsurance Assets - Summary of Components of Gross and Net Insurance Contract Liabilities (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of insurance contract liabilities and reinsurance assets [abstract]
Gross insurance contract liabilities	CAD 291,767	CAD 284,778
Gross benefits payable and provision for unreported claims	3,376	3,309
Gross policyholder amounts on deposit	9,462	9,418
Gross insurance contract liabilities	304,605	297,505	CAD 285,288
Reinsurance assets	(30,359)	(34,952)
Net insurance contract liabilities	CAD 274,246	CAD 262,553

Insurance Contract Liabilitie90

Insurance Contract Liabilities and Reinsurance Assets - Summary of Composition of Insurance Contract Liabilities and Reinsurance Assets by Line of Business and Reporting Segment (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	CAD 274,246	CAD 262,553
Total reinsurance ceded	(30,359)	(34,952)
Total, gross of reinsurance ceded	304,605	297,505	CAD 285,288
Other insurance contract liabilities [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Total, gross of reinsurance ceded	11,155	10,815	CAD 10,050
Gross insurance contract liabilities [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	274,246	262,553
Total reinsurance ceded	30,359	34,952
Total, gross of reinsurance ceded	304,605	297,505
Gross insurance contract liabilities [Member] | Corporate and other [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	(46)	(590)
Total reinsurance ceded	172	259
Total, gross of reinsurance ceded	126	(331)
Gross insurance contract liabilities [Member] | Asia [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	62,243	54,567
Total reinsurance ceded	911	880
Total, gross of reinsurance ceded	63,154	55,447
Gross insurance contract liabilities [Member] | Canada [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	76,198	73,384
Total reinsurance ceded	(676)	593
Total, gross of reinsurance ceded	75,522	73,977
Gross insurance contract liabilities [Member] | U.S [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	135,851	135,192
Total reinsurance ceded	29,952	33,220
Total, gross of reinsurance ceded	165,803	168,412
Gross insurance contract liabilities [Member] | Individual insurance participating [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	52,438	49,913
Total reinsurance ceded	11,492	13,558
Total, gross of reinsurance ceded	63,930	63,471
Gross insurance contract liabilities [Member] | Individual insurance participating [Member] | Asia [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	32,737	29,520
Gross insurance contract liabilities [Member] | Individual insurance participating [Member] | Canada [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	11,132	10,974
Gross insurance contract liabilities [Member] | Individual insurance participating [Member] | U.S [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	8,569	9,419
Gross insurance contract liabilities [Member] | Individual insurance non-participating [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	113,880	106,240
Total reinsurance ceded	11,238	12,122
Total, gross of reinsurance ceded	125,118	118,362
Gross insurance contract liabilities [Member] | Individual insurance non-participating [Member] | Corporate and other [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	(515)	(833)
Gross insurance contract liabilities [Member] | Individual insurance non-participating [Member] | Asia [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	22,705	18,799
Gross insurance contract liabilities [Member] | Individual insurance non-participating [Member] | Canada [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	34,091	31,790
Gross insurance contract liabilities [Member] | Individual insurance non-participating [Member] | U.S [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	57,599	56,484
Gross insurance contract liabilities [Member] | Annuities and pensions [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	49,716	51,810
Total reinsurance ceded	6,539	8,159
Total, gross of reinsurance ceded	56,255	59,969
Gross insurance contract liabilities [Member] | Annuities and pensions [Member] | Corporate and other [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	48	62
Gross insurance contract liabilities [Member] | Annuities and pensions [Member] | Asia [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	4,366	3,599
Gross insurance contract liabilities [Member] | Annuities and pensions [Member] | Canada [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	19,141	19,620
Gross insurance contract liabilities [Member] | Annuities and pensions [Member] | U.S [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	26,161	28,529
Gross insurance contract liabilities [Member] | Other insurance contract liabilities [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	58,212	54,590
Total reinsurance ceded	1,090	1,113
Total, gross of reinsurance ceded	59,302	55,703
Gross insurance contract liabilities [Member] | Other insurance contract liabilities [Member] | Corporate and other [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	421	181
Gross insurance contract liabilities [Member] | Other insurance contract liabilities [Member] | Asia [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	2,435	2,649
Gross insurance contract liabilities [Member] | Other insurance contract liabilities [Member] | Canada [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	11,834	11,000
Gross insurance contract liabilities [Member] | Other insurance contract liabilities [Member] | U.S [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Net insurance contract liabilities	CAD 43,522	CAD 40,760

Insurance Contract Liabilitie91

Insurance Contract Liabilities and Reinsurance Assets - Additional Information (Detail) - CAD CAD in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Fair value of assets backing net insurance contract liabilities excluding reinsurance assets	CAD 278,521	CAD 278,521	CAD 266,119
Fair value of assets backing capital and other liabilities	456,278	456,278	459,256
Change in net insurance and investment contract liabilities		277	655
Change in net income attributed to shareholders	CAD 2,800
Change in net income attributed to shareholders (post-tax)		(35)	(453)
ALDA and Public Equity Investment Return Assumptions [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net insurance and investment contract liabilities		1,296
Change in net income attributed to shareholders (post-tax)		(892)
Corporate Spread Assumptions [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net insurance and investment contract liabilities		(515)
Change in net income attributed to shareholders (post-tax)		344
Refinements To Liability and Tax Cash Flows [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net insurance and investment contract liabilities		(1,049)
Change in net income attributed to shareholders (post-tax)		696
U.S. variable annuities guaranteed minimum withdrawal benefit incidence and utilization [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)			665
Canada [Member] | U.S. variable annuities guaranteed minimum withdrawal benefit incidence and utilization [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)			128
Japan [Member] | U.S. variable annuities guaranteed minimum withdrawal benefit incidence and utilization [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)			228
Mortality and morbidity updates [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net insurance and investment contract liabilities		(254)	(53)
Change in net income attributed to shareholders (post-tax)		299	76
Mortality and morbidity updates [Member] | U.S [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		384
Mortality and morbidity updates [Member] | Canada [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		264
Mortality and morbidity updates [Member] | Canada [Member] | Retail Insurance Business [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		222
Mortality and morbidity updates [Member] | Asia [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		264
Mortality and morbidity updates [Member] | Japan [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		197	76
Lapses and policyholder behavior [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net insurance and investment contract liabilities		1,019
Change in net income attributed to shareholders (post-tax)		(783)
Lapses and policyholder behavior [Member] | Canada [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		315
Lapses and policyholder behavior [Member] | Canada [Member] | Segregated funds [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		242
Lapses and policyholder behavior [Member] | Japan [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		226
Other updates [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net insurance and investment contract liabilities		(220)	162
Change in net income attributed to shareholders (post-tax)		301	(73)
Other updates [Member] | ALDA and Public Equity Investment Return Assumptions [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		892
Other updates [Member] | Corporate Spread Assumptions [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		344
Other updates [Member] | U.S [Member] | Refinements To Liability and Tax Cash Flows [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net income attributed to shareholders (post-tax)		CAD 696
JH Long Term Care triennial review [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net insurance and investment contract liabilities			696
Change in net income attributed to shareholders (post-tax)			(452)
Contract liabilities benefits			CAD 1,000
Percentage of premium increase due to changes in actuarial assumptions			20.00%
Economic reinvestment assumptions [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Change in net insurance and investment contract liabilities			CAD 443
Change in net income attributed to shareholders (post-tax)			(313)
Bottom of range [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Percentage provision for adverse deviation assumptions not specifically provided	5.00%	5.00%
Top of range [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Percentage provision for adverse deviation assumptions not specifically provided	20.00%	20.00%
MLI and John Hancock Life Insurance Company [Member]
Disclosure of insurance contract liabilities and reinsurance assets [line items]
Assets and insurance contract liabilities related to closed blocks participating policies	CAD 28,135	CAD 28,135	CAD 29,108

Insurance Contract Liabilitie92

Insurance Contract Liabilities and Reinsurance Assets - Summary of Carrying Value of Total Assets Backing Net Insurance Contract Liabilities, Other Liabilities and Capital (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	CAD 729,533	CAD 720,681
Mortgages [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	44,742	44,193
Private placements [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	32,132	29,729
Real estate [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	13,810	14,132
Debt securities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	174,000	168,622
Public equities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	21,545	19,496
Other [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	443,304	444,509
Individual insurance participating [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	52,438	49,913
Individual insurance participating [Member] | Mortgages [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	2,017	2,110
Individual insurance participating [Member] | Private placements [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	3,645	3,277
Individual insurance participating [Member] | Real estate [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	2,963	2,811
Individual insurance participating [Member] | Debt securities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	27,946	27,473
Individual insurance participating [Member] | Public equities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	9,264	8,055
Individual insurance participating [Member] | Other [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	6,603	6,187
Individual insurance non-participating [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	113,880	106,240
Individual insurance non-participating [Member] | Mortgages [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	10,286	10,008
Individual insurance non-participating [Member] | Private placements [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	12,128	10,823
Individual insurance non-participating [Member] | Real estate [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	6,198	6,397
Individual insurance non-participating [Member] | Debt securities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	63,128	56,765
Individual insurance non-participating [Member] | Public equities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	5,855	5,401
Individual insurance non-participating [Member] | Other [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	16,285	16,846
Annuities and pensions [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	49,716	51,810
Annuities and pensions [Member] | Mortgages [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	7,009	8,135
Annuities and pensions [Member] | Private placements [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	8,059	7,096
Annuities and pensions [Member] | Real estate [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	1,136	1,480
Annuities and pensions [Member] | Debt securities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	26,621	26,331
Annuities and pensions [Member] | Public equities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	171	213
Annuities and pensions [Member] | Other [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	6,720	8,555
Other insurance contract liabilities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	58,212	54,590
Other insurance contract liabilities [Member] | Mortgages [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	6,891	5,554
Other insurance contract liabilities [Member] | Private placements [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	7,739	7,070
Other insurance contract liabilities [Member] | Real estate [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	2,516	2,561
Other insurance contract liabilities [Member] | Debt securities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	25,211	23,012
Other insurance contract liabilities [Member] | Public equities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	332	351
Other insurance contract liabilities [Member] | Other [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	15,523	16,042
Other liabilities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	404,628	407,893
Other liabilities [Member] | Mortgages [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	18,476	18,311
Other liabilities [Member] | Private placements [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	367	1,272
Other liabilities [Member] | Real estate [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	769	613
Other liabilities [Member] | Debt securities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	6,635	9,965
Other liabilities [Member] | Public equities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	1,029	732
Other liabilities [Member] | Other [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	377,352	377,000
Capital [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	50,659	50,235
Capital [Member] | Mortgages [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	63	75
Capital [Member] | Private placements [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	194	191
Capital [Member] | Real estate [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	228	270
Capital [Member] | Debt securities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	24,459	25,076
Capital [Member] | Public equities [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	4,894	4,744
Capital [Member] | Other [Member]
Disclosure Of Carrying Value Measurement Of Assets [Line Items]
Carrying value of total assets	CAD 20,821	CAD 19,879

Insurance Contract Liabilitie93

Insurance Contract Liabilities and Reinsurance Assets - Summary of Potential Impact on Net Income Attributed to Shareholders Arising From Changes to Non-economic Assumptions (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
2% Adverse change in future mortality rates [Member] | Products where an increase in rates increases insurance contract liabilities [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Decrease in net income attributable to shareholders	CAD (400)	CAD (400)
2% Adverse change in future mortality rates [Member] | Products where a decrease in rates increases insurance contract liabilities [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Decrease in net income attributable to shareholders	(400)	(500)
5% Adverse change in future morbidity rates [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Decrease in net income attributable to shareholders	(3,900)	(3,700)
10% Adverse change in future termination rates [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Decrease in net income attributable to shareholders	(2,000)	(1,900)
5% increase in future expense levels [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Decrease in net income attributable to shareholders	CAD (500)	CAD (500)

Insurance Contract Liabilitie94

Insurance Contract Liabilities and Reinsurance Assets - Summary of Change in Insurance Contract Liabilities (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of changes in insurance contract liabilities [Line Items]
Beginning balance	CAD 297,505	CAD 285,288
New policies	3,986	3,911
Normal in-forcemovement	13,025	13,268
Changes in methods and assumptions	324	1,354
Impact of U.S. Tax Reform	2,246
Increase due to decision to change the portfolio asset mix supporting legacy business	1,383
Impact of changes in foreign exchange rates	(13,864)	(6,316)
Ending balance	304,605	297,505
Net actuarial liabilities [Member]
Disclosure of changes in insurance contract liabilities [Line Items]
Beginning balance	251,738	239,812
New policies	3,545	3,617
Normal in-forcemovement	15,192	12,579
Changes in methods and assumptions	305	709
Impact of U.S. Tax Reform	2,246
Increase due to decision to change the portfolio asset mix supporting legacy business	1,340
Impact of changes in foreign exchange rates	(11,275)	(4,979)
Ending balance	263,091	251,738
Other insurance contract liabilities [Member]
Disclosure of changes in insurance contract liabilities [Line Items]
Beginning balance	10,815	10,050
Normal in-forcemovement	930	1,094
Changes in methods and assumptions	(28)	(54)
Impact of changes in foreign exchange rates	(562)	(275)
Ending balance	11,155	10,815
Net insurance contract liabilities [Member]
Disclosure of changes in insurance contract liabilities [Line Items]
Beginning balance	262,553	249,862
New policies	3,545	3,617
Normal in-forcemovement	16,122	13,673
Changes in methods and assumptions	277	655
Impact of U.S. Tax Reform	2,246
Increase due to decision to change the portfolio asset mix supporting legacy business	1,340
Impact of changes in foreign exchange rates	(11,837)	(5,254)
Ending balance	274,246	262,553
Reinsurance assets [Member]
Disclosure of changes in insurance contract liabilities [Line Items]
Beginning balance	34,952	35,426
New policies	441	294
Normal in-forcemovement	(3,097)	(405)
Changes in methods and assumptions	47	699
Increase due to decision to change the portfolio asset mix supporting legacy business	43
Impact of changes in foreign exchange rates	(2,027)	(1,062)
Ending balance	CAD 30,359	CAD 34,952

Insurance Contract Liabilitie95

Insurance Contract Liabilities and Reinsurance Assets - Summary of Change in Insurance Contract Liabilities (Parenthetical) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract]
Change in gross insurance contract liabilities	CAD 20,964	CAD 18,533
Change in insurance contract liabilities	20,023	18,014
Increase in insurance contract liabilities	20,212	17,529
Contract liabilities in gross claims and benefits	CAD 752	CAD 1,004
Corporate tax rate	21.00%	35.00%
Impact of U.S. Tax Reform	CAD (2,246)
Impact of U.S. Tax Reform, post-tax	1,774
Impact of U.S. Tax Reform, deferred tax impact	CAD 472

Insurance Contract Liabilitie96

Insurance Contract Liabilities and Reinsurance Assets - Summary of Actuarial Methods and Assumptions (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities	CAD 324	CAD 1,354
Change in insurance and investment contract liabilities net of reinsurance	277	655
Change in net income attributed to shareholders (post-tax)	(35)	(453)
ALDA and Public Equity Investment Return Assumptions [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities	1,403
Change in insurance and investment contract liabilities net of reinsurance	1,296
Change in net income attributed to shareholders (post-tax)	(892)
Corporate Spread Assumptions [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities	(554)
Change in insurance and investment contract liabilities net of reinsurance	(515)
Change in net income attributed to shareholders (post-tax)	344
Refinements To Liability and Tax Cash Flows [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities	(1,273)
Change in insurance and investment contract liabilities net of reinsurance	(1,049)
Change in net income attributed to shareholders (post-tax)	696
Mortality and morbidity updates [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities	(219)	(12)
Change in insurance and investment contract liabilities net of reinsurance	(254)	(53)
Change in net income attributed to shareholders (post-tax)	299	76
Lapses and policyholder behavior [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities	1,057
Change in insurance and investment contract liabilities net of reinsurance	1,019
Change in net income attributed to shareholders (post-tax)	(783)
Other updates [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities	(90)	719
Change in insurance and investment contract liabilities net of reinsurance	(220)	162
Change in net income attributed to shareholders (post-tax)	301	(73)
Other updates [Member] | ALDA and Public Equity Investment Return Assumptions [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in net income attributed to shareholders (post-tax)	892
Other updates [Member] | Corporate Spread Assumptions [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in net income attributed to shareholders (post-tax)	CAD 344
JH Long Term Care triennial review [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities		696
Change in insurance and investment contract liabilities net of reinsurance		696
Change in net income attributed to shareholders (post-tax)		(452)
U.S. variable annuities guaranteed minimum withdrawal benefit incidence and utilization [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities		(1,024)
Change in insurance and investment contract liabilities net of reinsurance		(1,024)
Change in net income attributed to shareholders (post-tax)		665
Other lapses and policyholder behaviour [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities		516
Change in insurance and investment contract liabilities net of reinsurance		431
Change in net income attributed to shareholders (post-tax)		(356)
Economic reinvestment assumptions [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Change in gross insurance and investment contract liabilities		459
Change in insurance and investment contract liabilities net of reinsurance		443
Change in net income attributed to shareholders (post-tax)		CAD (313)

Insurance Contract Liabilitie97

Insurance Contract Liabilities and Reinsurance Assets - Summary of Actuarial Methods and Assumptions (Parenthetical) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of sensitivity analysis for actuarial assumptions [abstract]
Change in net insurance and investment contract liabilities	CAD 277	CAD 655
Net income attributed to participating policyholders	CAD 88

Insurance Contract Liabilitie98

Insurance Contract Liabilities and Reinsurance Assets - Summary of Insurance Contract Liabilities, Payments Due by Period (Detail) CAD in Millions	Dec. 31, 2017CAD
Disclosure of types of insurance contracts [Line Items]
Insurance contract liabilities	CAD 742,054
Less than 1 year [Member]
Disclosure of types of insurance contracts [Line Items]
Insurance contract liabilities	9,788
1 to 3 years [Member]
Disclosure of types of insurance contracts [Line Items]
Insurance contract liabilities	11,236
3 to 5 years [Member]
Disclosure of types of insurance contracts [Line Items]
Insurance contract liabilities	17,153
Over 5 years [Member]
Disclosure of types of insurance contracts [Line Items]
Insurance contract liabilities	CAD 703,877

Insurance Contract Liabilitie99

Insurance Contract Liabilities and Reinsurance Assets - Summary of Gross Claims and Benefits (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [Line Items]
Gross claims and benefits	CAD 24,994	CAD 25,059
Death, disability and other claims [Member]
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [Line Items]
Gross claims and benefits	14,871	13,819
Maturity and surrender benefits [Member]
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [Line Items]
Gross claims and benefits	6,302	6,697
Annuity payments [Member]
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [Line Items]
Gross claims and benefits	4,470	4,310
Policyholder dividends and experience rating refunds [Member]
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [Line Items]
Gross claims and benefits	1,085	1,111
Net transfers from segregated funds [Member]
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [Line Items]
Gross claims and benefits	CAD (1,734)	CAD (878)

Investment Contract Liabilit100

Investment Contract Liabilities - Summary of Movement in Investment Contract Liabilities Measured at Fair Value (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Investment Contract Liabilities [Line Items]
Beginning balance	CAD 3,275
Ending balance	3,126	CAD 3,275
Fair value [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Beginning balance	631	785
New policies	50	53
Changes in market conditions	76	(103)
Redemptions, surrenders and maturities	(72)	(83)
Impact of changes in foreign exchange rates	(46)	(21)
Ending balance	CAD 639	CAD 631

Investment Contract Liabilit101

Investment Contract Liabilities - Summary of Investment Contract Liabilities Measured at Amortized Cost and Fair Value Associated with Contracts (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of Investment Contract Liabilities [Line Items]
Investment contract liabilities	CAD 3,126	CAD 3,275
Amortized cost [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Investment contract liabilities	2,487	2,644	CAD 2,712
Amortized cost [Member] | U.S. fixed annuity products [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Investment contract liabilities	1,282	1,412
Amortized cost [Member] | Canadian fixed annuity products [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Investment contract liabilities	1,205	1,232
Fair value [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Investment contract liabilities	2,787	2,905
Fair value [Member] | U.S. fixed annuity products [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Investment contract liabilities	1,433	1,516
Fair value [Member] | Canadian fixed annuity products [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Investment contract liabilities	CAD 1,354	CAD 1,389

Investment Contract Liabilit102

Investment Contract Liabilities - Summary of Changes in Investment Contract Liabilities Measured at Amortized Cost (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Investment Contract Liabilities [Line Items]
Beginning balance	CAD 3,275
Ending balance	3,126	CAD 3,275
Amortized cost [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Beginning balance	2,644	2,712
Policy deposits	68	112
Interest	100	100
Withdrawals	(232)	(235)
Fees	(1)	(1)
Other	(1)	1
Impact of changes in foreign exchange rates	(91)	(45)
Ending balance	CAD 2,487	CAD 2,644

Investment Contract Liabilit103

Investment Contract Liabilities - Summary of Contractual Obligations and Commitments Relating to Investment Contracts (Detail) CAD in Millions	Dec. 31, 2017CAD
Disclosure of Investment Contract Liabilities [Line Items]
Contractual obligations and commitments	CAD 5,244
Less than 1 year [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Contractual obligations and commitments	283
1 to 3 years [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Contractual obligations and commitments	536
3 to 5 years [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Contractual obligations and commitments	481
Over 5 years [Member]
Disclosure of Investment Contract Liabilities [Line Items]
Contractual obligations and commitments	CAD 3,944

Risk Management - Summary of Gr

Risk Management - Summary of Gross Carrying Amount of Financial Instruments Subject to Credit Exposure (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of external credit grades [Line Items]
Credit exposure	CAD 311,782	CAD 316,058
Mortgages [Member]
Disclosure of external credit grades [Line Items]
Credit exposure	44,742	44,193
Private placements [Member]
Disclosure of external credit grades [Line Items]
Credit exposure	32,132	29,729
Policy loans [Member]
Disclosure of external credit grades [Line Items]
Credit exposure	5,808	6,041
Loans to Bank clients [Member]
Disclosure of external credit grades [Line Items]
Credit exposure	1,737	1,745
Derivative Assets [Member]
Disclosure of external credit grades [Line Items]
Credit exposure	15,569	23,672
Accrued investment income [Member]
Disclosure of external credit grades [Line Items]
Credit exposure	2,182	2,260
Reinsurance assets [Member]
Disclosure of external credit grades [Line Items]
Credit exposure	30,359	34,952
Other financial assets [Member]
Disclosure of external credit grades [Line Items]
Credit exposure	5,253	4,844
FVTPL [Member]
Disclosure of external credit grades [Line Items]
Credit exposure	147,024	140,890
AFS [Member]
Disclosure of external credit grades [Line Items]
Credit exposure	CAD 26,976	CAD 27,732

Risk Management - Summary of Cr

Risk Management - Summary of Credit Quality and Carrying Value of Commercial Mortgages and Private Placements (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Commercial mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	CAD 25,574	CAD 25,728
Commercial mortgages [Member] | Retail [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	8,141	8,199
Commercial mortgages [Member] | Office [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	7,709	7,324
Commercial mortgages [Member] | Multi-family residential [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	4,449	4,806
Commercial mortgages [Member] | Industrial [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	2,583	2,834
Commercial mortgages [Member] | Other [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	2,692	2,565
Agricultural mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	589	822
Private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	32,132	29,729
Commercial mortgages and private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	58,295	56,279
AAA [Member] | Commercial mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	1,085	1,271
AAA [Member] | Commercial mortgages [Member] | Retail [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	110	97
AAA [Member] | Commercial mortgages [Member] | Office [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	57	68
AAA [Member] | Commercial mortgages [Member] | Multi-family residential [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	523	656
AAA [Member] | Commercial mortgages [Member] | Industrial [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	33	22
AAA [Member] | Commercial mortgages [Member] | Other [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	362	428
AAA [Member] | Private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	1,038	1,086
AAA [Member] | Commercial mortgages and private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	2,123	2,357
AA [Member] | Commercial mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	4,901	4,858
AA [Member] | Commercial mortgages [Member] | Retail [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	1,517	1,620
AA [Member] | Commercial mortgages [Member] | Office [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	1,272	1,255
AA [Member] | Commercial mortgages [Member] | Multi-family residential [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	1,395	1,362
AA [Member] | Commercial mortgages [Member] | Industrial [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	386	360
AA [Member] | Commercial mortgages [Member] | Other [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	331	261
AA [Member] | Agricultural mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	159	151
AA [Member] | Private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	4,246	4,466
AA [Member] | Commercial mortgages and private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	9,306	9,475
A [Member] | Commercial mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	13,357	13,082
A [Member] | Commercial mortgages [Member] | Retail [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	4,363	4,391
A [Member] | Commercial mortgages [Member] | Office [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	4,635	3,972
A [Member] | Commercial mortgages [Member] | Multi-family residential [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	1,805	1,944
A [Member] | Commercial mortgages [Member] | Industrial [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	1,542	1,452
A [Member] | Commercial mortgages [Member] | Other [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	1,012	1,323
A [Member] | Agricultural mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value		61
A [Member] | Private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	11,978	10,671
A [Member] | Commercial mortgages and private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	25,335	23,814
BBB [Member] | Commercial mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	5,873	6,190
BBB [Member] | Commercial mortgages [Member] | Retail [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	2,050	2,084
BBB [Member] | Commercial mortgages [Member] | Office [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	1,647	1,938
BBB [Member] | Commercial mortgages [Member] | Multi-family residential [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	726	844
BBB [Member] | Commercial mortgages [Member] | Industrial [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	477	831
BBB [Member] | Commercial mortgages [Member] | Other [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	973	493
BBB [Member] | Agricultural mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	405	469
BBB [Member] | Private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	13,160	11,606
BBB [Member] | Commercial mortgages and private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	19,438	18,265
BB [Member] | Commercial mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	273	284
BB [Member] | Commercial mortgages [Member] | Retail [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	44
BB [Member] | Commercial mortgages [Member] | Office [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	70	55
BB [Member] | Commercial mortgages [Member] | Industrial [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	145	169
BB [Member] | Commercial mortgages [Member] | Other [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	14	60
BB [Member] | Agricultural mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	25	141
BB [Member] | Private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	717	936
BB [Member] | Commercial mortgages and private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	1,015	1,361
B and lower [Member] | Commercial mortgages [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	85	43
B and lower [Member] | Commercial mortgages [Member] | Retail [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	57	7
B and lower [Member] | Commercial mortgages [Member] | Office [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	28	36
B and lower [Member] | Private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	993	964
B and lower [Member] | Commercial mortgages and private placements [Member]
Disclosure of credit quality and carrying value of commercial mortgages and private placements [line items]
Credit quality and carrying value	CAD 1,078	CAD 1,007

Risk Management - Summary of Ca

Risk Management - Summary of Carrying Value of Residential Mortgages and Loans to Bank Clients (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	CAD 20,316	CAD 19,388
Residential mortgages [Member] | Performing [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	18,566	17,624
Residential mortgages [Member] | Non-performing [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	13	19
Loans to Bank clients [Member] | Performing [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	1,734	1,743
Loans to Bank clients [Member] | Non-performing [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	3	2
Insured [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	7,260	7,580
Insured [Member] | Residential mortgages [Member] | Performing [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	7,256	7,574
Insured [Member] | Residential mortgages [Member] | Non-performing [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	4	6
Uninsured [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	13,056	11,808
Uninsured [Member] | Residential mortgages [Member] | Performing [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	11,310	10,050
Uninsured [Member] | Residential mortgages [Member] | Non-performing [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	9	13
Uninsured [Member] | Loans to Bank clients [Member] | Performing [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	1,734	1,743
Uninsured [Member] | Loans to Bank clients [Member] | Non-performing [Member]
Disclosure of Credit Quality [Line Items]
Carrying value of residential mortgages and loans to bank clients	CAD 3	CAD 2

Risk Management - Additional In

Risk Management - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017CAD	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD
Disclosure of Risk Management [Line Items]
Percentage of total mortgage portfolio	17.00%	17.00%	19.00%
Loaned securities included in invested assets	CAD 17,997,000,000		CAD 26,809,000,000
Reverse repurchase transactions recorded as short-term receivables	230,000,000		250,000,000
Repurchase transactions recorded as payables	CAD 228,000,000		255,000,000
Term of credit default swaps	5 years	5 years
Credit protection purchased	CAD 0		0
Mitigated exposure to credit risk	10,138,000,000		12,781,000,000
Largest single counterparty exposure without master netting agreements or the benefit of collateral held	6,760,000,000		12,031,000,000
Largest single counterparty exposure with master netting agreements or the benefit of collateral held	95,000,000		190,000,000
Maximum credit exposure related to derivatives	16,204,000,000		24,603,000,000
Reinsurance assets	CAD 30,359,000,000		CAD 34,952,000,000
Percentage ceded to reinsurers	92.00%		92.00%
Exposure to credit risk	CAD 13,855,000,000		CAD 16,600,000,000
Net exposure after offsetting agreements and benefit of fair value of collateral held	16,504,000,000		18,352,000,000
Bottom of range [Member]
Disclosure of Risk Management [Line Items]
Global retention limit | $		$ 30
Top of range [Member]
Disclosure of Risk Management [Line Items]
Global retention limit | $		$ 35
Derivatives [Member]
Disclosure of Risk Management [Line Items]
Largest single counterparty exposure without master netting agreements or the benefit of collateral held	2,629,000,000		3,891,000,000
Largest single counterparty exposure with master netting agreements or the benefit of collateral held	CAD 0		CAD 0
AA Credit Grades or Higher [Member]
Disclosure of Risk Management [Line Items]
Derivative exposure with counterparties, percentage	20.00%	20.00%	22.00%
Securities lending [Member]
Disclosure of Risk Management [Line Items]
Loaned securities included in invested assets	CAD 1,563,000,000		CAD 1,956,000,000

Risk Management - Summary of108

Risk Management - Summary of Carrying Value of Past Due but not Impaired and Impaired Financial Assets (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Financial assets past due but not impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	CAD 633	CAD 575
Financial assets past due but not impaired [Member] | Private placements [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	363	279
Financial assets past due but not impaired [Member] | Mortgages and loans to Bank clients [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	92	70
Financial assets past due but not impaired [Member] | Other financial assets [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	72	111
Impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	173	231
Impaired [Member] | Private placements [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	40	152
Impaired [Member] | Mortgages and loans to Bank clients [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	86	33
Impaired [Member] | Other financial assets [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	1	8
FVTPL [Member] | Financial assets past due but not impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets		90
FVTPL [Member] | Impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	45	38
AFS [Member] | Financial assets past due but not impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	106	25
AFS [Member] | Impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	1
Less than 90 days [Member] | Financial assets past due but not impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	589	428
Less than 90 days [Member] | Financial assets past due but not impaired [Member] | Private placements [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	363	215
Less than 90 days [Member] | Financial assets past due but not impaired [Member] | Mortgages and loans to Bank clients [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	76	50
Less than 90 days [Member] | Financial assets past due but not impaired [Member] | Other financial assets [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	46	57
Less than 90 days [Member] | FVTPL [Member] | Financial assets past due but not impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets		90
Less than 90 days [Member] | AFS [Member] | Financial assets past due but not impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	104	16
90 days and greater [Member] | Financial assets past due but not impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	44	147
90 days and greater [Member] | Financial assets past due but not impaired [Member] | Private placements [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets		64
90 days and greater [Member] | Financial assets past due but not impaired [Member] | Mortgages and loans to Bank clients [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	16	20
90 days and greater [Member] | Financial assets past due but not impaired [Member] | Other financial assets [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	26	54
90 days and greater [Member] | AFS [Member] | Financial assets past due but not impaired [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Carrying value or impaired value, financial assets	CAD 2	CAD 9

Risk Management - Summary of Co

Risk Management - Summary of Company's Loans Considered Impaired (Detail) - Financial assets impaired loan [Member] - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of financial assets that are either past due or impaired [Line Items]
Net carrying value	CAD 126	CAD 185
Private placements [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Net carrying value	40	152
Mortgages and loans to Bank clients [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Net carrying value	86	33
Gross Carrying Value [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Net carrying value	211	303
Gross Carrying Value [Member] | Private placements [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Net carrying value	79	244
Gross Carrying Value [Member] | Mortgages and loans to Bank clients [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Net carrying value	132	59
Allowances for losses [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Net carrying value	85	118
Allowances for losses [Member] | Private placements [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Net carrying value	39	92
Allowances for losses [Member] | Mortgages and loans to Bank clients [Member]
Disclosure of financial assets that are either past due or impaired [Line Items]
Net carrying value	CAD 46	CAD 26

Risk Management - Summary of Re

Risk Management - Summary of Reconciliation of Allowance for Loan Losses (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of credit risk exposure [Line Items]
Beginning balance	CAD 118	CAD 101
Provisions	35	126
Recoveries	(13)	(69)
Write-offs	(55)	(40)
Ending balance	85	118
Private placements [Member]
Disclosure of credit risk exposure [Line Items]
Beginning balance	92	72
Provisions	2	112
Recoveries	(12)	(62)
Write-offs	(43)	(30)
Ending balance	39	92
Mortgages and loans to Bank clients [Member]
Disclosure of credit risk exposure [Line Items]
Beginning balance	26	29
Provisions	33	14
Recoveries	(1)	(7)
Write-offs	(12)	(10)
Ending balance	CAD 46	CAD 26

Risk Management - Summary of111

Risk Management - Summary of Credit Default Swap Protection Sold (Detail) - CAD	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [Line Items]
Notional amount	CAD 336,773,000,000	CAD 370,198,000,000
Credit default swaps [Member]
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [Line Items]
Notional amount	606,000,000	662,000,000
Fair value	CAD 14,000,000	CAD 18,000,000
Weighted average maturity (in years)	3 years	4 years
Credit default swaps [Member] | AAA [Member]
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [Line Items]
Notional amount	CAD 13,000,000	CAD 13,000,000
Weighted average maturity (in years)	1 year	2 years
Credit default swaps [Member] | AA [Member]
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [Line Items]
Notional amount	CAD 35,000,000	CAD 37,000,000
Fair value	CAD 1,000,000	CAD 1,000,000
Weighted average maturity (in years)	2 years	3 years
Credit default swaps [Member] | A [Member]
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [Line Items]
Notional amount	CAD 408,000,000	CAD 457,000,000
Fair value	CAD 10,000,000	CAD 13,000,000
Weighted average maturity (in years)	3 years	4 years
Credit default swaps [Member] | BBB [Member]
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [Line Items]
Notional amount	CAD 150,000,000	CAD 155,000,000
Fair value	CAD 3,000,000	CAD 4,000,000
Weighted average maturity (in years)	2 years	3 years
Credit default swaps [Member] | Single name CDSs [Member]
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [Line Items]
Notional amount	CAD 606,000,000	CAD 662,000,000
Fair value	CAD 14,000,000	CAD 18,000,000
Weighted average maturity (in years)	3 years	4 years

Risk Management - Summary of Ef

Risk Management - Summary of Effect of Conditional Master Netting and Similar Arrangements (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of offsetting of financial liabilities [Line Items]
Gross amounts of financial instruments presented in the Consolidated Statements of Financial Position	CAD 17,997	CAD 26,809
Amounts subject to an enforceable master netting arrangement or similar agreements	(6,760)	(12,031)
Financial and cash collateral pledged (received)	(11,142)	(14,588)
Net amount including financing trusts	95	190
Net amounts excluding financing trusts	95	189
Gross amounts of financial instruments presented in the Consolidated Statements of Financial Position	(8,877)	(15,350)
Amounts subject to an enforceable master netting arrangement or similar agreements	6,760	12,031
Financial and cash collateral pledged (received)	1,900	3,055
Net amount including financing trusts	(217)	(264)
Net amounts excluding financing trusts	(30)	(42)
Derivative Assets [Member]
Disclosure of offsetting of financial liabilities [Line Items]
Gross amounts of financial instruments presented in the Consolidated Statements of Financial Position	16,204	24,603
Amounts subject to an enforceable master netting arrangement or similar agreements	(6,714)	(12,031)
Financial and cash collateral pledged (received)	(9,395)	(12,382)
Net amount including financing trusts	95	190
Net amounts excluding financing trusts	95	189
Securities lending [Member]
Disclosure of offsetting of financial liabilities [Line Items]
Gross amounts of financial instruments presented in the Consolidated Statements of Financial Position	1,563	1,956
Financial and cash collateral pledged (received)	(1,563)	(1,956)
Reverse repurchase agreements [Member]
Disclosure of offsetting of financial liabilities [Line Items]
Gross amounts of financial instruments presented in the Consolidated Statements of Financial Position	230	250
Amounts subject to an enforceable master netting arrangement or similar agreements	(46)
Financial and cash collateral pledged (received)	(184)	(250)
Derivative Liabilities [Member]
Disclosure of offsetting of financial liabilities [Line Items]
Gross amounts of financial instruments presented in the Consolidated Statements of Financial Position	(8,649)	(15,095)
Amounts subject to an enforceable master netting arrangement or similar agreements	6,714	12,031
Financial and cash collateral pledged (received)	1,718	2,800
Net amount including financing trusts	(217)	(264)
Net amounts excluding financing trusts	(30)	(42)
Repurchase agreements [Member]
Disclosure of offsetting of financial liabilities [Line Items]
Gross amounts of financial instruments presented in the Consolidated Statements of Financial Position	(228)	(255)
Amounts subject to an enforceable master netting arrangement or similar agreements	46
Financial and cash collateral pledged (received)	CAD 182	CAD 255

Risk Management - Summary of113

Risk Management - Summary of Effect of Conditional Master Netting and Similar Arrangements (Parenthetical) (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of offsetting of financial assets [abstract]
Accrued interest receivable	CAD 638	CAD 935
Accrued interest payable	827	944
Over-collateralized on OTC derivative assets	743	398
Over-collateralized on OTC derivative liabilities	382	494
Over-collateralized on securities lending and reverse purchase agreements	79	107
Over-collateralized on repurchase agreements	CAD 0	CAD 1

Risk Management - Summary of th

Risk Management - Summary of the Effect of Unconditional Netting (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of offsetting of financial liabilities [Line Items]
Gross amounts of financial instruments	CAD 8,877	CAD 15,350
Credit Linked Note [Member]
Disclosure of offsetting of financial liabilities [Line Items]
Gross amounts of financial instruments	461
Amounts subject to an enforceable netting arrangement	(461)
Net amounts of financial instruments presented in the Consolidated Statements of Financial Position	0
Variable Funding Surplus Note [Member]
Disclosure of offsetting of financial liabilities [Line Items]
Gross amounts of financial instruments	(461)
Amounts subject to an enforceable netting arrangement	461
Net amounts of financial instruments presented in the Consolidated Statements of Financial Position	CAD 0

Risk Management - Schedule of R

Risk Management - Schedule of Risk Concentrations (Detail) - Asset classes and individual investment risks [Member] - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of nature and extent of risks arising from financial instruments [Line Items]
Debt securities and private placements rated as investment grade BBB or higher	98.00%	97.00%
Government debt securities as a per cent of total debt securities	39.00%	43.00%
Government private placements as a per cent of total private placements	10.00%	10.00%
Highest exposure to a single non-government debt security and private placement issuer	CAD 1,044	CAD 1,010
Largest single issuer as a per cent of the total equity portfolio	2.00%	3.00%
Income producing commercial office properties (2017 - 64% of real estate, 2016 - 65%)	CAD 8,836	CAD 9,200
Largest concentration of mortgages and real estate(2) - Ontario Canada (2017 - 25%, 2016 - 24%)	CAD 14,779	CAD 13,882

Risk Management - Schedule o116

Risk Management - Schedule of Risk Concentrations (Parenthetical) (Detail)	Dec. 31, 2017	Dec. 31, 2016
Asset classes and individual investment risks [Member]
Disclosure of nature and extent of risks arising from financial instruments [Line Items]
Income producing commercial office properties, percentage	64.00%	65.00%
Ontario Canada [Member] | Asset classes and individual investment risks [Member]
Disclosure of nature and extent of risks arising from financial instruments [Line Items]
Largest concentration of mortgages and real estate, percentage	25.00%	24.00%
A [Member]
Disclosure of nature and extent of risks arising from financial instruments [Line Items]
Investment grade debt securities and private placements rate	42.00%	41.00%
AA [Member]
Disclosure of nature and extent of risks arising from financial instruments [Line Items]
Investment grade debt securities and private placements rate	16.00%	14.00%
AAA [Member]
Disclosure of nature and extent of risks arising from financial instruments [Line Items]
Investment grade debt securities and private placements rate	17.00%	21.00%

Risk Management - Schedule of D

Risk Management - Schedule of Distribution of Debt Securities and Private Placements Portfolio by Sector and Industry (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 206,132	CAD 198,351
% of total	100.00%	100.00%
Government and agency [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 71,888	CAD 76,020
% of total	35.00%	38.00%
Utilities [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 40,568	CAD 37,561
% of total	20.00%	19.00%
Financial [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 27,923	CAD 25,027
% of total	13.00%	13.00%
Energy [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 16,428	CAD 15,775
% of total	8.00%	8.00%
Industrial [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 14,691	CAD 13,088
% of total	7.00%	6.00%
Consumer (non-cyclical) [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 14,009	CAD 12,440
% of total	7.00%	6.00%
Consumer (cyclical) [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 5,916	CAD 4,256
% of total	3.00%	2.00%
Securitized [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 3,577	CAD 3,514
% of total	2.00%	2.00%
Telecommunications [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 3,324	CAD 3,091
% of total	2.00%	2.00%
Basic materials [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 3,248	CAD 3,387
% of total	2.00%	2.00%
Technology [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 2,475	CAD 2,231
% of total	1.00%	1.00%
Media and internet [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 1,136	CAD 1,175
% of total		1.00%
Diversified and miscellaneous [Member]
Disclosure of Distribution of Debt Securities and Private Placement Portfolio by Sector and Industry [Line Items]
Carrying value	CAD 949	CAD 786

Risk Management - Schedule of G

Risk Management - Schedule of Geographic Concentration of Insurance and Investment Contract Liabilities, Including Embedded Derivatives (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Concentration Risk [Line items]
Concentration risk of liabilities	CAD 277,596	CAD 266,166
US and Canada [Member]
Disclosure of Concentration Risk [Line items]
Concentration risk of liabilities	207,209	203,809
Asia and Other [Member]
Disclosure of Concentration Risk [Line items]
Concentration risk of liabilities	70,387	62,357
Gross insurance contract liabilities [Member]
Disclosure of Concentration Risk [Line items]
Concentration risk of liabilities	307,955	301,118
Gross insurance contract liabilities [Member] | US and Canada [Member]
Disclosure of Concentration Risk [Line items]
Concentration risk of liabilities	237,434	238,796
Gross insurance contract liabilities [Member] | Asia and Other [Member]
Disclosure of Concentration Risk [Line items]
Concentration risk of liabilities	70,521	62,322
Reinsurance assets [Member]
Disclosure of Concentration Risk [Line items]
Concentration risk of liabilities	(30,359)	(34,952)
Reinsurance assets [Member] | US and Canada [Member]
Disclosure of Concentration Risk [Line items]
Concentration risk of liabilities	(30,225)	(34,987)
Reinsurance assets [Member] | Asia and Other [Member]
Disclosure of Concentration Risk [Line items]
Concentration risk of liabilities	CAD (134)	CAD 35

Long-Term Debt - Carrying Value

Long-Term Debt - Carrying Value of Long Term Debt Instruments (Detail) CAD in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2017CAD	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD
Disclosure of detailed information about borrowings [Line Items]
Long-term debt	CAD 4,785		CAD 5,696
4.70% Senior notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Issue date	Jun. 23, 2016
Maturity date	Jun. 23, 2046
Par value | $		$ 1,000
Long-term debt	CAD 1,246		1,333
5.375% Senior notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Issue date	Mar. 4, 2016
Maturity date	Mar. 4, 2046
Par value | $		750
Long-term debt	CAD 928		994
3.527% Senior notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Issue date	Dec. 2, 2016
Maturity date	Dec. 2, 2026
Par value | $		270
Long-term debt	CAD 338		361
4.150% Senior notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Issue date	Mar. 4, 2016
Maturity date	Mar. 4, 2026
Par value | $		1,000
Long-term debt	CAD 1,246		1,333
4.90% Senior notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Issue date	Sep. 17, 2010
Maturity date	Sep. 17, 2020
Par value | $		500
Long-term debt	CAD 626		669
7.768% Medium term notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Issue date	Apr. 8, 2009
Maturity date	Apr. 8, 2019
Par value | $		600
Long-term debt			599
5.505% Medium term notes [member]
Disclosure of detailed information about borrowings [Line Items]
Issue date	Jun. 26, 2008
Maturity date	Jun. 26, 2018
Par value | $		$ 400
Long-term debt	CAD 400		400
Other notes payable [Member]
Disclosure of detailed information about borrowings [Line Items]
Long-term debt	CAD 1		CAD 7

Long-Term Debt - Carrying Va120

Long-Term Debt - Carrying Value of Long Term Debt Instruments (Parenthetical) (Detail) - CAD CAD in Millions	Oct. 06, 2017	Dec. 31, 2017
5.375% Senior notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Number of basis points		0.40%
3.527% Senior notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Number of basis points		0.20%
4.150% Senior notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Number of basis points		0.35%
4.90% Senior notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Number of basis points		0.35%
7.768% Medium term notes [Member]
Disclosure of detailed information about borrowings [Line Items]
Early redemption premium before income taxes	CAD 44
Medium Term Notes 1 [Member]
Disclosure of detailed information about borrowings [Line Items]
Number of basis points		0.39%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [Line Items]
Interest paid on long-term debt	CAD 324	CAD 191
Level 2 [Member]
Disclosure of detailed information about borrowings [Line Items]
Fair value of long-term debt	CAD 5,187	CAD 6,100

Long-Term Debt - Aggregate Matu

Long-Term Debt - Aggregate Maturities of Long-term Debt (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [Line Items]
Long-term debt	CAD 4,785	CAD 5,696
Less than 1 year [Member]
Disclosure of detailed information about borrowings [Line Items]
Long-term debt	401	7
One to two years [Member]
Disclosure of detailed information about borrowings [Line Items]
Long-term debt		400
Two to three years [Member]
Disclosure of detailed information about borrowings [Line Items]
Long-term debt	626	599
Three to four years [Member]
Disclosure of detailed information about borrowings [Line Items]
Long-term debt		669
Over 5 years [Member]
Disclosure of detailed information about borrowings [Line Items]
Long-term debt	CAD 3,758	CAD 4,021

Capital Instruments - Schedule

Capital Instruments - Schedule of Carrying Value of Capital Instruments (Detail)	12 Months Ended
	Dec. 31, 2017CAD	Dec. 31, 2017USD ($)	Dec. 31, 2017SGD	Dec. 31, 2016CAD
Carrying value of capital instruments [line items]
Par value	CAD 336,773,000,000			CAD 370,198,000,000
Total	CAD 8,387,000,000			7,180,000,000
4.165% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	4.165%	4.165%	4.165%
Issuance date	Feb. 17, 2012
Earliest par redemption date	Jun. 1, 2017
Maturity date	Jun. 1, 2022
Par value	CAD 500
Total				499,000,000
3.938% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	3.938%	3.938%	3.938%
Issuance date	Sep. 21, 2012
Earliest par redemption date	Sep. 21, 2017
Maturity date	Sep. 21, 2022
Par value	CAD 400
Total				407,000,000
2.819% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	2.819%	2.819%	2.819%
Issuance date	Feb. 25, 2013
Earliest par redemption date	Feb. 26, 2018
Maturity date	Feb. 26, 2023
Par value	CAD 200
Total	CAD 200,000,000			200,000,000
2.926% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	2.926%	2.926%	2.926%
Issuance date	Nov. 29, 2013
Earliest par redemption date	Nov. 29, 2018
Maturity date	Nov. 29, 2023
Par value	CAD 250
Total	CAD 250,000,000			249,000,000
2.811% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	2.811%	2.811%	2.811%
Issuance date	Feb. 21, 2014
Earliest par redemption date	Feb. 21, 2019
Maturity date	Feb. 21, 2024
Par value	CAD 500
Total	CAD 499,000,000			499,000,000
7.535% MFCT II Senior debenture notes [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	7.535%	7.535%	7.535%
Issuance date	Jul. 10, 2009
Earliest par redemption date	Dec. 31, 2019
Maturity date	Dec. 31, 2108
Par value	CAD 1,000
Total	CAD 1,000,000,000			1,000,000,000
2.64% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	2.64%	2.64%	2.64%
Issuance date	Dec. 1, 2014
Earliest par redemption date	Jan. 15, 2020
Maturity date	Jan. 15, 2025
Par value	CAD 500
Total	CAD 499,000,000			499,000,000
2.10% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	2.10%	2.10%	2.10%
Issuance date	Mar. 10, 2015
Earliest par redemption date	Jun. 1, 2020
Maturity date	Jun. 1, 2025
Par value	CAD 750
Total	CAD 748,000,000			747,000,000
2.389% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	2.389%	2.389%	2.389%
Issuance date	Jun. 1, 2015
Earliest par redemption date	Jan. 5, 2021
Maturity date	Jan. 5, 2026
Par value	CAD 350
Total	CAD 349,000,000			349,000,000
3.85% MFC Subordinated notes [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	3.85%	3.85%	3.85%
Issuance date	May 25, 2016
Earliest par redemption date	May 25, 2021
Maturity date	May 25, 2026
Par value | SGD			SGD 500
Total	CAD 467,000,000			461,000,000
3.181% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	3.181%	3.181%	3.181%
Issuance date	Nov. 20, 2015
Earliest par redemption date	Nov. 22, 2022
Maturity date	Nov. 22, 2027
Par value	CAD 1,000
Total	CAD 996,000,000			996,000,000
3.049% MFC Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	3.049%	3.049%	3.049%
Issuance date	Aug. 18, 2017
Earliest par redemption date	Aug. 20, 2024
Maturity date	Aug. 20, 2029
Par value	CAD 750
Total	CAD 746,000,000
3.00% MFC Subordinated notes [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	3.00%	3.00%	3.00%
Issuance date	Nov. 21, 2017
Earliest par redemption date	Nov. 21, 2024
Maturity date	Nov. 21, 2024
Par value | SGD			SGD 500
Total	CAD 467,000,000
4.061% MFC Subordinated notes [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	4.061%	4.061%	4.061%
Issuance date	Feb. 24, 2017
Earliest par redemption date	Feb. 24, 2027
Maturity date	Feb. 24, 2032
Par value | $		$ 750
Total	CAD 935,000,000
7.375% JHUSA Surplus notes [Member]
Carrying value of capital instruments [line items]
Capital instruments interest rate	7.375%	7.375%	7.375%
Issuance date	Feb. 25, 1994
Maturity date	Feb. 15, 2024
Par value | $		$ 450
Total	CAD 584,000,000			627,000,000
JHFC subordinated notes [member]
Carrying value of capital instruments [line items]
Issuance date	Dec. 14, 2006
Maturity date	Dec. 15, 2036
Par value	CAD 650
Total	CAD 647,000,000			CAD 647,000,000

Capital Instruments - Schedu124

Capital Instruments - Schedule of Carrying Value of Capital Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Carrying value of capital instruments [line items]
Interest rate, basis	5-year Singapore Dollar Swap Rate plus a specified number of basis points
Interest rate reset period	5 years
3.85% MFC Subordinated notes [Member]
Carrying value of capital instruments [line items]
Floating interest rate, adjustment to basis	1.97%
3.049% MFC Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Interest rate, basis	90-day Bankers' Acceptance rate plus 105 basis points.
Floating interest rate, adjustment to basis	1.05%
3.00% MFC Subordinated notes [Member]
Carrying value of capital instruments [line items]
Floating interest rate, adjustment to basis	0.832%
4.061% MFC Subordinated notes [Member]
Carrying value of capital instruments [line items]
Interest rate, basis	5-Year US Dollar Mid-Swap Rate plus 1.647
Floating interest rate, adjustment to basis	1.647%
Interest rate reset period	5 years
JHFC subordinated notes [member]
Carrying value of capital instruments [line items]
Interest rate, basis	90-day Bankers’ Acceptance rate plus 0.72%
Floating interest rate, adjustment to basis	0.72%
Manufacturers life insurance company [Member] | 2.819% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Interest rate, basis	90-day Bankers’ Acceptance rate plus a specified number of basis points and is payable quarterly
Floating interest rate, adjustment to basis	0.95%
Manufacturers life insurance company [Member] | 2.926% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Floating interest rate, adjustment to basis	0.85%
Manufacturers life insurance company [Member] | 2.811% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Floating interest rate, adjustment to basis	0.80%
Manufacturers life insurance company [Member] | 2.64% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Floating interest rate, adjustment to basis	0.73%
Manufacturers life insurance company [Member] | 2.10% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Floating interest rate, adjustment to basis	0.72%
Manufacturers life insurance company [Member] | 2.389% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Floating interest rate, adjustment to basis	0.83%
Manufacturers life insurance company [Member] | 3.181% MLI Subordinated debentures [Member]
Carrying value of capital instruments [line items]
Floating interest rate, adjustment to basis	1.57%
Manufacturers life insurance company [Member] | Government of Canada bonds [Member]
Carrying value of capital instruments [line items]
Debt instrument, maturity period	5 years	5 years
Floating interest rate, adjustment to basis	5.20%	5.20%
Manufacturers life insurance company [Member] | Government of Canada bonds [Member] | Prior to December 31, 2019 [Member]
Carrying value of capital instruments [line items]
Bond redemption variable interest rate	1.0325%	1.0325%
Manufacturers life insurance company [Member] | Government of Canada bonds [Member] | After December 31, 2019 [Member]
Carrying value of capital instruments [line items]
Bond redemption variable interest rate	2.065%	2.065%
John Hancock Financial Corporation [Member] | 7.375% JHUSA Surplus notes [Member]
Carrying value of capital instruments [line items]
Unamortized fair value increment	$ 23	$ 26

Capital Instruments - Additiona

Capital Instruments - Additional Information (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Level 2 [Member]
Fair value of capital instruments [Line Items]
Capital instruments	CAD 8,636	CAD 7,417

Share Capital and Earnings P126

Share Capital and Earnings Per Share - Summary of Changes in Issued and Outstanding Shares - Preferred Shares (Detail) - CAD shares in Millions, CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of classes of share capital [Line Items]
Balance, beginning of year	CAD 42,823
Balance, end of year	42,163	CAD 42,823
Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Balance, beginning of year	3,577	2,693
Issued, amount		900
Issuance costs, net of tax	0	(16)
Balance, end of year	CAD 3,577	CAD 3,577
Balance, beginning of year	146	110
Balance, end of year	146	146
Class 1, Series 21 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issued, amount	CAD 0	CAD 425
Number of shares, issued	0	17
Balance, end of year	17
Class 1, Series 3 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Converted, amount	CAD 0	CAD (42)
Number of shares, converted	0	(2)
Balance, end of year	6
Class 1, Series 4 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issued, amount	CAD 0	CAD 42
Number of shares, issued	0	2
Balance, end of year	2
Class 1, Series 23 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issued, amount	CAD 0	CAD 475
Number of shares, issued	0	19
Balance, end of year	19

Share Capital and Earnings P127

Share Capital and Earnings Per Share - Summary of Further Information on Preferred Shares Outstanding (Detail) - CAD shares in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of classes of share capital [Line Items]
Face amount	CAD 336,773,000,000	CAD 370,198,000,000
Class 1, Series 4 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Jun. 20, 2016
Number of shares	2
Face amount	CAD 42,000,000
Net amount	CAD 41,000,000
Class 1, Series 3 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Mar. 11, 2011
Annual dividend rate	2.178%
Earliest redemption date	Jun. 19, 2021
Number of shares	6
Face amount	CAD 158,000,000
Net amount	CAD 155,000,000
Class 1, Series 5 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Dec. 6, 2011
Annual dividend rate	3.891%
Earliest redemption date	Dec. 19, 2021
Number of shares	8
Face amount	CAD 200,000,000
Net amount	CAD 195,000,000
Class 1, Series 7 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Feb. 22, 2012
Annual dividend rate	4.312%
Earliest redemption date	Mar. 19, 2022
Number of shares	10
Face amount	CAD 250,000,000
Net amount	CAD 244,000,000
Class 1, Series 9 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	May 24, 2012
Annual dividend rate	4.351%
Earliest redemption date	Sep. 19, 2022
Number of shares	10
Face amount	CAD 250,000,000
Net amount	CAD 244,000,000
Class 1, Series 11 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Dec. 4, 2012
Annual dividend rate	4.00%
Earliest redemption date	Mar. 19, 2018
Number of shares	8
Face amount	CAD 200,000,000
Net amount	CAD 196,000,000
Class 1, Series 13 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Jun. 21, 2013
Annual dividend rate	3.80%
Earliest redemption date	Sep. 19, 2018
Number of shares	8
Face amount	CAD 200,000,000
Net amount	CAD 196,000,000
Class 1, Series 15 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Feb. 25, 2014
Annual dividend rate	3.90%
Earliest redemption date	Jun. 19, 2019
Number of shares	8
Face amount	CAD 200,000,000
Net amount	CAD 195,000,000
Class 1, Series 17 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Aug. 15, 2014
Annual dividend rate	3.90%
Earliest redemption date	Dec. 19, 2019
Number of shares	14
Face amount	CAD 350,000,000
Net amount	CAD 343,000,000
Class 1, Series 19 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Dec. 3, 2014
Annual dividend rate	3.80%
Earliest redemption date	Mar. 19, 2020
Number of shares	10
Face amount	CAD 250,000,000
Net amount	CAD 246,000,000
Class 1, Series 21 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Feb. 25, 2016
Annual dividend rate	5.60%
Earliest redemption date	Jun. 19, 2021
Number of shares	17
Face amount	CAD 425,000,000
Net amount	CAD 417,000,000
Class 1, Series 23 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Nov. 22, 2016
Annual dividend rate	4.85%
Earliest redemption date	Mar. 19, 2022
Number of shares	19
Face amount	CAD 475,000,000
Net amount	CAD 467,000,000
Class A, Series 2 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Feb. 18, 2005
Annual dividend rate	4.65%
Number of shares	14
Face amount	CAD 350,000,000
Net amount	CAD 344,000,000
Class A, Series 3 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Issue date	Jan. 3, 2006
Annual dividend rate	4.50%
Number of shares	12
Face amount	CAD 300,000,000
Net amount	CAD 294,000,000
Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Number of shares	146
Face amount	CAD 3,650,000,000
Net amount	CAD 3,577,000,000

Share Capital and Earnings P128

Share Capital and Earnings Per Share - Summary of Further Information on Preferred Shares Outstanding (Parenthetical) (Detail) - CAD / shares	Sep. 19, 2017	Mar. 19, 2017	Dec. 31, 2017
Class 1, Series 4 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Annual dividend rate			Floating
Class 1, Series 4 Preferred shares [Member] | Major ordinary share transactions [Member]
Disclosure of classes of share capital [Line Items]
Basis spread on dividend rate			1.41%
Floating dividend rate, description			Three month Government of Canada Treasury bill yield plus 1.41%.
Class 1, Series 4 Preferred shares [Member] | If redeemed on June 19, 2021 [Member]
Disclosure of classes of share capital [Line Items]
Price per share			CAD 25
Class 1, Series 4 Preferred shares [Member] | If redeemed after June 19, 2021 [Member]
Disclosure of classes of share capital [Line Items]
Price per share			CAD 25.50
Class 1, Series 3 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			1.41%
Class 1, Series 5 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			2.90%
Class 1, Series 7 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			3.13%
Annual dividend rate		4.312%
Class 1, Series 9 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			2.86%
Annual dividend rate	4.351%
Class 1, Series 11 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			2.61%
Class 1, Series 13 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			2.22%
Class 1, Series 15 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			2.16%
Class 1, Series 17 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			2.36%
Class 1, Series 19 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			2.30%
Class 1, Series 21 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			4.97%
Class 1, Series 23 Preferred shares [Member]
Disclosure of classes of share capital [Line Items]
Specified yield percentage			3.83%

Share Capital and Earnings P129

Share Capital and Earnings Per Share - Summary of Changes in Issued and Outstanding Shares - Common Shares (Detail) - CAD shares in Millions, CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of classes of share capital [Line Items]
Balance, beginning of year	CAD 42,823
Balance, end of year	CAD 42,163	CAD 42,823
Common shares [Member]
Disclosure of classes of share capital [Line Items]
Balance, beginning of year	1,975	1,972
Issued on exercise of stock options and deferred share units	7	3
Balance, end of year	1,982	1,975
Balance, beginning of year	CAD 22,865	CAD 22,799
Issued on exercise of stock options and deferred share units	124	66
Balance, end of year	CAD 22,989	CAD 22,865

Share Capital and Earnings P130

Share Capital and Earnings Per Share - Summary of Basic and Diluted Earnings Per Common Share (Detail) - CAD / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Earnings per share [abstract]
Basic earnings per common share	CAD 0.98	CAD 1.42
Diluted earnings per common share	CAD 0.98	CAD 1.41

Share Capital and Earnings P131

Share Capital and Earnings Per Share - Summary of Reconciliation of Denominator (Number of Shares) in Calculation of Basic and Diluted Earnings Per Share (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Earnings per share [abstract]
Weighted average number of common shares (in millions)	1,978	1,973
Dilutive stock-based awards(in millions)	8	4
Weighted average number of diluted common shares (in millions)	1,986	1,977

Share Capital and Earnings P132

Share Capital and Earnings Per Share - Summary of Reconciliation of Denominator (Number of Shares) in Calculation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Share based payments arrangements [Member]
Earnings per share [Line Items]
Anti-dilutive stock-based awards excluded from the calculation of EPS	2	14

Share Capital and Earnings P133

Share Capital and Earnings Per share - Additional Information (Detail)	Feb. 07, 2018CAD / shares
Common shares [Member] | Major ordinary share transactions [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	CAD 0.22

Share Capital and Earnings P134

Share Capital and Earnings Per share - Schedule of Dividends Payable on Non-cumulative Preferred Shares (Detail) - Major ordinary share transactions [Member]	Feb. 21, 2017CAD / shares
Class 1, Series 11 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	CAD 0.250000
Class 1, Series 13 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.237500
Class 1, Series 15 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.243750
Class 1, Series 17 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.243750
Class 1, Series 19 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.237500
Class 1, Series 21 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.350000
Class 1, Series 23 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.303125
Class A, Series 2 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.290630
Class A, Series 3 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.281250
Class 1, Series 3 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.136125
Class 1, Series 4 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.141103
Class 1, Series 5 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.243188
Class 1, Series 7 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	0.269500
Class 1, Series 9 Preferred shares [Member]
Disclosure of Dividends [Line Items]
Dividend declared but not paid	CAD 0.271938

Capital Management - Schedule o

Capital Management - Schedule of Consolidated Capital (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of classes of share capital [abstract]
Total equity	CAD 42,163	CAD 42,823
Adjusted for AOCI loss on cash flow hedges	(109)	(232)
Total equity excluding AOCI on cash flow hedges	42,272	43,055
Qualifying capital instruments	8,387	7,180
Total capital	CAD 50,659	CAD 50,235

Capital Management - Additional

Capital Management - Additional Information (Detail)	Dec. 31, 2017CAD
Bottom of range [Member]
Disclosure of classes of share capital [Line Items]
Aggregate liquidation entitlement	CAD 200,000,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail)	1 Months Ended	12 Months Ended
	Feb. 28, 2017	Dec. 31, 2017CADEquityOptionsCAD / sharesshares	Dec. 31, 2016CADEquityOptionsCAD / shares	Dec. 31, 2015Equity
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Compensation expense		CAD 16,000,000	CAD 19,000,000
Black scholes option pricing model [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Weighted average fair value of options granted		CAD 5.18	CAD 3.78
Risk-free interest rate		1.25%	1.50%
Dividend yield		3.00%	3.00%
Expected volatility		29.50%	29.50%
Expected life		6 years 8 months 12 days	6 years 8 months 12 days
Executive Stock Option Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Description of share-based payment arrangement		The options provide the holder the right to purchase MFC common shares at an exercise price equal to the higher of the prior day, prior five-day or prior ten-day average closing market price of the shares on the Toronto Stock Exchange on the date the options are granted.
Shares reserved for future issuance | shares		73,600,000
Executive Stock Option Plan [Member] | Top of range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Option vesting period		4 years
Option expiration period		10 years
Deferred Share Units under ESOP [member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Vesting period		3 years
Number of common shares to be received on retirement or termination | shares		1
Fair value of equity issued		0	0
Number of shares outstanding		610,000	633,000
Deferred Share Units [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Compensation expense		CAD 13,000,000	CAD 6,000,000
Number of equity granted		23,000	14,000
Number of other equity instruments entitle holder to receive payment in cash | Options		1,103,000	1,235,000
Number of other equity entitle holder to receive payment in cash or common shares | Options		932,000	814,000
Amount of the liability relating to equity		CAD 53,000,000	CAD 43,000,000
Deferred Share Units [Member] | Defer receipt of all or part of annual bonus [member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Number of equity granted		0	27,000
Deferred Share Units [Member] | Defer payment of all or part of RSUs or PSUs [member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Number of equity granted		43,000	83,000
Deferred Share Units [Member] | Board of Director [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Fair value of equity issued | Equity		156,000	254,000
Number of shares outstanding | Equity		2,645,000	2,682,000	2,542,000
Fair value of equity granted | CAD / shares		CAD 26.22	CAD 23.91
Deferred Share Units [Member] | Bottom of range [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Vesting period		34 months	4 years
Board of Director [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Shares reserved for future issuance | shares		1,000,000
Restricted share units (RSUs) [member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Compensation expense		CAD 125,000,000	CAD 110,000,000
Vesting period	34 months
Number of equity granted		5,600,000	7,600,000
Fair value of equity granted | CAD / shares		CAD 26.22	CAD 23.91
Vesting date	Dec. 15, 2019
Performance share units (PSUs) [member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Compensation expense		CAD 21,000,000	CAD 9,000,000
Vesting period	36 months
Number of equity granted		1,000,000	1,200,000
Fair value of equity granted | CAD / shares		CAD 26.22	CAD 23.91
Vesting date	Feb. 28, 2020
Restricted share units and performance share units [Member]
Disclosure of terms and conditions of share-based payment arrangement [Line Items]
Amount of the liability relating to equity		CAD 228,000,000	CAD 196,000,000

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Options Outstanding (Detail) shares in Millions, pure in Millions	12 Months Ended
	Dec. 31, 2017CADshares	Dec. 31, 2016CADshares
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Number of options, Beginning balance	30	30
Number of options, Granted	4	6
Number of options, Exercised	(7)	(3)
Number of options' Expired	(1)	(2)
Number of options' Forfeited	(1)	(1)
Number of options, Ending balance | shares	25	30
Number of options, Exercisable, Ending balance	12	18
Weighted average exercise price, Beginning balance	CAD 19.80	CAD 20.72
Weighted average exercise price, Granted	24.56	17.65
Weighted average exercise price, Exercised	16.03	15.49
Weighted average exercise price, Expired	39.47	32.92
Weighted average exercise price, Forfeited	20.86	21.04
Weighted average exercise price, Ending balance	20.45	19.80
Weighted average exercise price, Exercisable, Ending balance	CAD 19.93	CAD 20.15

Stock-Based Compensation - S139

Stock-Based Compensation - Schedule of Range of Exercise Prices of Outstanding Share Options (Detail)	12 Months Ended
	Dec. 31, 2017CAD	Dec. 31, 2016CAD	Dec. 31, 2015CAD
Disclosure of range of exercise prices of outstanding share options [Line Items]
Number of options, Options outstanding	25,000,000	30,000,000	30,000,000
Weighted average exercise price, Options outstanding	CAD 20.45	CAD 19.80	CAD 20.72
Weighted average remaining contractual life (in years)	5.44
Number of options, Options exercisable	12,000,000	18,000,000
Weighted average exercise price, Options exercisable	CAD 19.93	CAD 20.15
Weighted average remaining contractual life (in years), Options exercisable	2.87
$11.23 - $20.99 [Member]
Disclosure of range of exercise prices of outstanding share options [Line Items]
Number of options, Options outstanding	14,000,000
Weighted average exercise price, Options outstanding	CAD 17.08
Weighted average remaining contractual life (in years)	4.91
Number of options, Options exercisable	9,000,000
Weighted average exercise price, Options exercisable	CAD 16.78
Weighted average remaining contractual life (in years), Options exercisable	3.05
$21.00 - $29.99 [Member]
Disclosure of range of exercise prices of outstanding share options [Line Items]
Number of options, Options outstanding	10,000,000
Weighted average exercise price, Options outstanding	CAD 22.77
Weighted average remaining contractual life (in years)	6.88
Number of options, Options exercisable	2,000,000
Weighted average exercise price, Options exercisable	CAD 21.40
Weighted average remaining contractual life (in years), Options exercisable	3.77
$30.00 - $37.71 [Member]
Disclosure of range of exercise prices of outstanding share options [Line Items]
Number of options, Options outstanding	1,000,000
Weighted average exercise price, Options outstanding	CAD 37.71
Weighted average remaining contractual life (in years)	0.14
Number of options, Options exercisable	1,000,000
Weighted average exercise price, Options exercisable	CAD 37.71
Weighted average remaining contractual life (in years), Options exercisable	0.14

Stock-Based Compensation - S140

Stock-Based Compensation - Schedule of Other Equity Instruments (Detail) - Deferred Share Units [Member] - Board of Director [Member] - Equity	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of range of exercise prices of outstanding share options [Line Items]
Beginning balance	2,682,000	2,542,000
Issued	156,000	254,000
Reinvested	88,000	97,000
Redeemed	(279,000)	(184,000)
Forfeitures and cancellations	(2,000)	(27,000)
Ending balance	2,645,000	2,682,000

Employee Future Benefits - Addi

Employee Future Benefits - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017CAD
Disclosure of defined benefit plans [Line Items]
Percentage of final average pay pension plans to global pension obligations	50.00%
Plan assets set aside for non-qualified cash balance plan	CAD 0
Assets set aside for plan	0
Canadian plans [Member]
Disclosure of defined benefit plans [Line Items]
Estimate of expected cash payments for employee future benefits for the year ending December 31, 2018	CAD 31,000,000
Return-seeking assets [Member]
Disclosure of defined benefit plans [Line Items]
Target asset allocation for plan	29.00%
Return-seeking assets [Member] | Canada [Member]
Disclosure of defined benefit plans [Line Items]
Target asset allocation for plan	15.00%
Liability-hedging assets [Member]
Disclosure of defined benefit plans [Line Items]
Target asset allocation for plan	71.00%
Liability-hedging assets [Member] | Canada [Member]
Disclosure of defined benefit plans [Line Items]
Target asset allocation for plan	85.00%
Defined Benefit Plans Provision [Member] | Standard Life Plc [Member]
Disclosure of defined benefit plans [Line Items]
Past service cost amendments	CAD (55,000,000)
Defined Benefit Pension Plans [Member]
Disclosure of defined benefit plans [Line Items]
Estimate of expected cash payments for employee future benefits for the year ending December 31, 2018	101,000,000
Defined contribution pension plans [Member]
Disclosure of defined benefit plans [Line Items]
Estimate of expected cash payments for employee future benefits for the year ending December 31, 2018	77,000,000
Retiree welfare plans [Member]
Disclosure of defined benefit plans [Line Items]
Estimate of expected cash payments for employee future benefits for the year ending December 31, 2018	CAD 9,000,000

Employee Future Benefits - Summ

Employee Future Benefits - Summary of Pension and Retiree Welfare Plans (Detail) - CAD	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Actuarial losses (gains) due to:
Ending balance	CAD 0
Pension plans [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Beginning balance	490,000,000
Actuarial losses (gains) due to:
Experience	15,000,000
Demographic assumption changes		CAD (94,000,000)
Economic assumption changes	214,000,000	116,000,000
Ending balance	378,000,000	490,000,000
Actuarial gains (losses)	(312,000,000)	(158,000,000)
Pension plans [Member] | Present value of defined benefit obligation [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Beginning balance	4,767,000,000	4,823,000,000
Plan mergers		143,000,000
Current service cost	48,000,000	52,000,000
Past service cost		(57,000,000)
Interest cost	182,000,000	196,000,000
Plan participants' contributions	1,000,000	1,000,000
Actuarial losses (gains) due to:
Experience	15,000,000
Demographic assumption changes		(94,000,000)
Economic assumption changes	214,000,000	116,000,000
Benefits paid	(315,000,000)	(314,000,000)
Impact of changes in foreign exchange rates	(206,000,000)	(99,000,000)
Ending balance	4,706,000,000	4,767,000,000
Pension plans [Member] | Plan assets [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Beginning balance	4,277,000,000	4,122,000,000
Plan mergers		129,000,000
Interest cost	164,000,000	169,000,000
Plan participants' contributions	1,000,000	1,000,000
Actuarial losses (gains) due to:
Benefits paid	(315,000,000)	(314,000,000)
Impact of changes in foreign exchange rates	(191,000,000)	(87,000,000)
Ending balance	4,328,000,000	4,277,000,000
Employer contributions	85,000,000	106,000,000
Administration costs	(5,000,000)	(7,000,000)
Actuarial gains (losses)	312,000,000	158,000,000
Retiree welfare plans [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Beginning balance	79,000,000
Actuarial losses (gains) due to:
Experience	(9,000,000)	(2,000,000)
Demographic assumption changes		(16,000,000)
Economic assumption changes	41,000,000	20,000,000
Ending balance	78,000,000	79,000,000
Actuarial gains (losses)	(30,000,000)	(8,000,000)
Retiree welfare plans [Member] | Present value of defined benefit obligation [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Beginning balance	682,000,000	713,000,000
Current service cost	1,000,000	1,000,000
Interest cost	26,000,000	28,000,000
Plan participants' contributions	4,000,000	5,000,000
Actuarial losses (gains) due to:
Experience	(9,000,000)	(2,000,000)
Demographic assumption changes		(16,000,000)
Economic assumption changes	41,000,000	20,000,000
Benefits paid	(45,000,000)	(50,000,000)
Impact of changes in foreign exchange rates	(35,000,000)	(17,000,000)
Ending balance	665,000,000	682,000,000
Retiree welfare plans [Member] | Plan assets [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Beginning balance	603,000,000	635,000,000
Interest cost	23,000,000	25,000,000
Plan participants' contributions	4,000,000	5,000,000
Actuarial losses (gains) due to:
Benefits paid	(45,000,000)	(50,000,000)
Impact of changes in foreign exchange rates	(38,000,000)	(18,000,000)
Ending balance	587,000,000	603,000,000
Employer contributions	12,000,000
Administration costs	(2,000,000)	(2,000,000)
Actuarial gains (losses)	CAD 30,000,000	CAD 8,000,000

Employee Future Benefits - S143

Employee Future Benefits - Summary of Amounts Recognized in Consolidated Statements of Financial Position (Detail) - CAD	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of defined benefit plans [Line Items]
Deficit and net defined benefit liability	CAD 0
Pension plans [Member]
Disclosure of defined benefit plans [Line Items]
Defined benefit obligation	4,706,000,000	CAD 4,767,000,000
Fair value of plan assets	4,328,000,000	4,277,000,000
Deficit	378,000,000	490,000,000
Effect of asset limit	0	0
Deficit and net defined benefit liability	378,000,000	490,000,000
Pension plans [Member] | Funded [Member]
Disclosure of defined benefit plans [Line Items]
Deficit and net defined benefit liability	(383,000,000)	(292,000,000)
Pension plans [Member] | Unfunded [Member]
Disclosure of defined benefit plans [Line Items]
Deficit and net defined benefit liability	761,000,000	782,000,000
Retiree welfare plans [Member]
Disclosure of defined benefit plans [Line Items]
Defined benefit obligation	665,000,000	682,000,000
Fair value of plan assets	587,000,000	603,000,000
Deficit	78,000,000	79,000,000
Effect of asset limit	0	0
Deficit and net defined benefit liability	78,000,000	79,000,000
Retiree welfare plans [Member] | Funded [Member]
Disclosure of defined benefit plans [Line Items]
Deficit and net defined benefit liability	(72,000,000)	(63,000,000)
Retiree welfare plans [Member] | Unfunded [Member]
Disclosure of defined benefit plans [Line Items]
Deficit and net defined benefit liability	CAD 150,000,000	CAD 142,000,000

Employee Future Benefits - S144

Employee Future Benefits - Summary of Disaggregation of Defined Benefit Obligation (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Pension plans [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	CAD 4,706	CAD 4,767
Retiree welfare plans [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	665	682
U.S. plans [Member] | Pension plans [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	3,026	3,165
U.S. plans [Member] | Pension plans [Member] | Active [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	592	637
U.S. plans [Member] | Pension plans [Member] | Inactive and retired members [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	2,434	2,528
U.S. plans [Member] | Retiree welfare plans [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	515	540
U.S. plans [Member] | Retiree welfare plans [Member] | Active [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	34	38
U.S. plans [Member] | Retiree welfare plans [Member] | Inactive and retired members [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	481	502
Canadian plans [Member] | Pension plans [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	1,680	1,602
Canadian plans [Member] | Pension plans [Member] | Active [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	393	403
Canadian plans [Member] | Pension plans [Member] | Inactive and retired members [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	1,287	1,199
Canadian plans [Member] | Retiree welfare plans [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	150	142
Canadian plans [Member] | Retiree welfare plans [Member] | Active [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	20	20
Canadian plans [Member] | Retiree welfare plans [Member] | Inactive and retired members [Member]
Disclosure of defined benefit plans [Line Items]
Disaggregation of defined benefit obligation	CAD 130	CAD 122

Employee Future Benefits - S145

Employee Future Benefits - Summary of Major Categories of Plan Assets and Actual Per Cent Allocation to Each Category (Detail) - CAD	Dec. 31, 2017	Dec. 31, 2016
Pension plans [Member]
Disclosure of fair value of plan assets [Line Items]
Total	CAD 4,328,000,000	CAD 4,277,000,000
Retiree welfare plans [Member]
Disclosure of fair value of plan assets [Line Items]
Total	587,000,000	603,000,000
U.S. plans [Member]
Disclosure of fair value of plan assets [Line Items]
Equity securities	1,300,000	1,100,000
U.S. plans [Member] | Pension plans [Member] | Fair value measurements [Member]
Disclosure of fair value of plan assets [Line Items]
Total	CAD 2,942,000,000	CAD 2,933,000,000
Percentage of fair value measurements	100.00%	100.00%
U.S. plans [Member] | Pension plans [Member] | Fair value measurements [Member] | Debt securities [Member]
Disclosure of fair value of plan assets [Line Items]
Debt securities	CAD 1,979,000,000	CAD 1,834,000,000
Percentage of fair value measurements	67.00%	62.00%
U.S. plans [Member] | Pension plans [Member] | Fair value measurements [Member] | Cash and cash equivalents [Member]
Disclosure of fair value of plan assets [Line Items]
Cash and cash equivalents	CAD 33,000,000	CAD 15,000,000
Percentage of fair value measurements	1.00%	1.00%
U.S. plans [Member] | Pension plans [Member] | Fair value measurements [Member] | Equity securities [Member]
Disclosure of fair value of plan assets [Line Items]
Equity securities	CAD 695,000,000	CAD 825,000,000
Percentage of fair value measurements	24.00%	28.00%
U.S. plans [Member] | Pension plans [Member] | Fair value measurements [Member] | Other investments [member]
Disclosure of fair value of plan assets [Line Items]
Other investments	CAD 235,000,000	CAD 259,000,000
Percentage of fair value measurements	8.00%	9.00%
U.S. plans [Member] | Retiree welfare plans [Member] | Fair value measurements [Member]
Disclosure of fair value of plan assets [Line Items]
Total	CAD 587,000,000	CAD 603,000,000
Percentage of fair value measurements	100.00%	100.00%
U.S. plans [Member] | Retiree welfare plans [Member] | Fair value measurements [Member] | Debt securities [Member]
Disclosure of fair value of plan assets [Line Items]
Debt securities	CAD 502,000,000	CAD 427,000,000
Percentage of fair value measurements	85.00%	71.00%
U.S. plans [Member] | Retiree welfare plans [Member] | Fair value measurements [Member] | Cash and cash equivalents [Member]
Disclosure of fair value of plan assets [Line Items]
Cash and cash equivalents	CAD 33,000,000	CAD 19,000,000
Percentage of fair value measurements	6.00%	3.00%
U.S. plans [Member] | Retiree welfare plans [Member] | Fair value measurements [Member] | Equity securities [Member]
Disclosure of fair value of plan assets [Line Items]
Equity securities	CAD 45,000,000	CAD 150,000,000
Percentage of fair value measurements	8.00%	25.00%
U.S. plans [Member] | Retiree welfare plans [Member] | Fair value measurements [Member] | Other investments [member]
Disclosure of fair value of plan assets [Line Items]
Other investments	CAD 7,000,000	CAD 7,000,000
Percentage of fair value measurements	1.00%	1.00%
Canadian plans [Member]
Disclosure of fair value of plan assets [Line Items]
Equity securities	CAD 0	CAD 0
Canadian plans [Member] | Pension plans [Member] | Fair value measurements [Member]
Disclosure of fair value of plan assets [Line Items]
Total	CAD 1,386,000,000	CAD 1,344,000,000
Percentage of fair value measurements	100.00%	100.00%
Canadian plans [Member] | Pension plans [Member] | Fair value measurements [Member] | Debt securities [Member]
Disclosure of fair value of plan assets [Line Items]
Debt securities	CAD 1,165,000,000	CAD 809,000,000
Percentage of fair value measurements	84.00%	60.00%
Canadian plans [Member] | Pension plans [Member] | Fair value measurements [Member] | Cash and cash equivalents [Member]
Disclosure of fair value of plan assets [Line Items]
Cash and cash equivalents	CAD 5,000,000	CAD 21,000,000
Percentage of fair value measurements	1.00%	2.00%
Canadian plans [Member] | Pension plans [Member] | Fair value measurements [Member] | Equity securities [Member]
Disclosure of fair value of plan assets [Line Items]
Equity securities	CAD 212,000,000	CAD 460,000,000
Percentage of fair value measurements	15.00%	34.00%
Canadian plans [Member] | Pension plans [Member] | Fair value measurements [Member] | Other investments [member]
Disclosure of fair value of plan assets [Line Items]
Other investments	CAD 4,000,000	CAD 54,000,000
Percentage of fair value measurements	0.00%	4.00%

Employee Future Benefits - S146

Employee Future Benefits - Summary of Major Categories of Plan Assets and Actual Per Cent Allocation to Each Category (Parenthetical) (Detail) - CAD	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
U.S. plans [Member]
Disclosure of fair value of plan assets [Line Items]
Percentage of plan assets	6.00%	6.00%
Equity securities	CAD 1,300,000	CAD 1,100,000
Canadian plans [Member]
Disclosure of fair value of plan assets [Line Items]
Percentage of plan assets	0.30%	3.00%
Equity securities	CAD 0	CAD 0

Employee Future Benefits - S147

Employee Future Benefits - Summary of Components of Net Benefit Cost for Pension Plans and Retiree Welfare Plans (Detail) - Net Benefit Cost Recognized in the Consolidated Statements of Income [Member] - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pension plans [Member]
Disclosure of defined benefit plans [Line Items]
Defined benefit current service cost	CAD 48	CAD 52
Defined benefit administrative expenses	5	7
Past service cost - plan amendments		(57)
Service cost	53	2
Interest on net defined benefit (asset) liability	18	27
Defined benefit cost	71	29
Defined contribution cost	75	69
Net benefit cost	146	98
Retiree welfare plans [Member]
Disclosure of defined benefit plans [Line Items]
Defined benefit current service cost	1	1
Defined benefit administrative expenses	2	2
Service cost	3	3
Interest on net defined benefit (asset) liability	3	3
Defined benefit cost	6	6
Net benefit cost	CAD 6	CAD 6

Employee Future Benefits - S148

Employee Future Benefits - Summary of Components of Net Benefit Cost for Pension Plans and Retiree Welfare Plans (Parenthetical) (Detail) CAD in Millions	12 Months Ended
	Dec. 31, 2017CAD
Standard Life Plc [Member] | Defined Benefit Plans Provision [Member]
Disclosure of defined benefit plans [Line Items]
Past service cost amendments	CAD (55)

Employee Future Benefits - S149

Employee Future Benefits - Summary of Re-measurement Effects Recognized in Other Comprehensive Income (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pension plans [Member]
Disclosure of defined benefit plans [Line Items]
Experience	CAD (15)
Demographic assumption changes		CAD 94
Economic assumption changes	(214)	(116)
Return on plan assets greater (less) than discount rate	312	158
Total re-measurement effects	83	136
Retiree welfare plans [Member]
Disclosure of defined benefit plans [Line Items]
Experience	9	2
Demographic assumption changes		16
Economic assumption changes	(41)	(20)
Return on plan assets greater (less) than discount rate	30	8
Total re-measurement effects	CAD (2)	CAD 6

Employee Future Benefits - S150

Employee Future Benefits - Summary of Key Assumptions Used by to Determine Defined Benefit Obligation and Net Benefit Cost for Defined Benefit Pension Plans and Retiree Welfare Plans (Detail)	Dec. 31, 2017	Dec. 31, 2016
U.S. plans [Member] | Pension plans [Member] | Defined benefit obligation [Member]
Disclosure of defined benefit plans [Line Items]
Discount rate	3.60%	4.10%
U.S. plans [Member] | Pension plans [Member] | Defined benefit cost [Member]
Disclosure of defined benefit plans [Line Items]
Discount rate	4.10%	4.40%
U.S. plans [Member] | Retiree welfare plans [Member] | Defined benefit obligation [Member]
Disclosure of defined benefit plans [Line Items]
Discount rate	3.60%	4.10%
Initial health care cost trend rate	8.50%	8.80%
U.S. plans [Member] | Retiree welfare plans [Member] | Defined benefit cost [Member]
Disclosure of defined benefit plans [Line Items]
Discount rate	4.10%	4.30%
Initial health care cost trend rate	8.80%	9.00%
Canadian plans [Member] | Pension plans [Member] | Defined benefit obligation [Member]
Disclosure of defined benefit plans [Line Items]
Discount rate	3.50%	3.90%
Canadian plans [Member] | Pension plans [Member] | Defined benefit cost [Member]
Disclosure of defined benefit plans [Line Items]
Discount rate	3.90%	4.10%
Canadian plans [Member] | Retiree welfare plans [Member] | Defined benefit obligation [Member]
Disclosure of defined benefit plans [Line Items]
Discount rate	3.60%	4.00%
Initial health care cost trend rate	5.90%	6.00%
Canadian plans [Member] | Retiree welfare plans [Member] | Defined benefit cost [Member]
Disclosure of defined benefit plans [Line Items]
Discount rate	4.00%	4.10%
Initial health care cost trend rate	6.00%	6.10%

Employee Future Benefits - S151

Employee Future Benefits - Summary of Key Assumptions Used by to Determine Defined Benefit Obligation and Net Benefit Cost for Defined Benefit Pension Plans and Retiree Welfare Plans (Parenthetical) (Detail)	Dec. 31, 2017	Dec. 31, 2016
Defined benefit cost [Member] | 2032 [Member] | Top of range [Member]
Disclosure of defined benefit plans [Line Items]
Health care cost trend rate	8.80%	9.00%
Defined benefit cost [Member] | 2032 [Member] | Bottom of range [Member]
Disclosure of defined benefit plans [Line Items]
Health care cost trend rate	5.00%	5.00%
Defined benefit cost [Member] | Canadian plans [Member] | 2026 [Member] | Top of range [Member]
Disclosure of defined benefit plans [Line Items]
Health care cost trend rate	6.00%	6.10%
Defined benefit cost [Member] | Canadian plans [Member] | 2026 [Member] | Bottom of range [Member]
Disclosure of defined benefit plans [Line Items]
Health care cost trend rate	4.80%	4.80%
Retiree welfare plans [Member] | 2032 [Member] | Top of range [Member]
Disclosure of defined benefit plans [Line Items]
Health care cost trend rate	8.50%	8.80%
Retiree welfare plans [Member] | 2032 [Member] | Bottom of range [Member]
Disclosure of defined benefit plans [Line Items]
Health care cost trend rate	5.00%	5.00%
Retiree welfare plans [Member] | Canadian plans [Member] | 2026 [Member] | Top of range [Member]
Disclosure of defined benefit plans [Line Items]
Health care cost trend rate	5.90%	6.00%
Retiree welfare plans [Member] | Canadian plans [Member] | 2026 [Member] | Bottom of range [Member]
Disclosure of defined benefit plans [Line Items]
Health care cost trend rate	4.80%	4.80%

Employee Future Benefits - S152

Employee Future Benefits - Summary of Life Expectancies Underlying Values of Obligations in Defined Benefit Pension and Retiree Welfare Plans (Detail)	Dec. 31, 2017yr
U.S [Member] | Life expectancy (in years) for those currently age 65 [Member] | Male [Member]
Disclosure of defined benefit plans [Line Items]
Life expectancy (in years)	22.4
U.S [Member] | Life expectancy (in years) for those currently age 65 [Member] | Female [Member]
Disclosure of defined benefit plans [Line Items]
Life expectancy (in years)	23.9
U.S [Member] | Life expectancy (in years) at age 65 for those currently age 45 [Member] | Male [Member]
Disclosure of defined benefit plans [Line Items]
Life expectancy (in years)	24
U.S [Member] | Life expectancy (in years) at age 65 for those currently age 45 [Member] | Female [Member]
Disclosure of defined benefit plans [Line Items]
Life expectancy (in years)	25.5
Canada [Member] | Life expectancy (in years) for those currently age 65 [Member] | Male [Member]
Disclosure of defined benefit plans [Line Items]
Life expectancy (in years)	22.8
Canada [Member] | Life expectancy (in years) for those currently age 65 [Member] | Female [Member]
Disclosure of defined benefit plans [Line Items]
Life expectancy (in years)	24.7
Canada [Member] | Life expectancy (in years) at age 65 for those currently age 45 [Member] | Male [Member]
Disclosure of defined benefit plans [Line Items]
Life expectancy (in years)	23.8
Canada [Member] | Life expectancy (in years) at age 65 for those currently age 45 [Member] | Female [Member]
Disclosure of defined benefit plans [Line Items]
Life expectancy (in years)	25.6

Employee Future Benefits - S153

Employee Future Benefits - Summary of Potential Impact on Obligations Arising From Changes in Key Assumptions (Detail) CAD in Millions	Dec. 31, 2017CAD
Actuarial assumption of discount rates [Member] | Pension plans [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Impact of increase in actuarial assumption	CAD (451)
Impact of decrease in actuarial assumption	536
Actuarial assumption of discount rates [Member] | Retiree welfare plans [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Impact of increase in actuarial assumption	(67)
Impact of decrease in actuarial assumption	82
Actuarial assumption of medical cost trend rates [Member] | Retiree welfare plans [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Impact of increase in actuarial assumption	24
Impact of decrease in actuarial assumption	(21)
Actuarial assumption of decrease in inflation rates [Member] | Pension plans [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Impact of decrease in actuarial assumption	119
Actuarial assumption of decrease in inflation rates [Member] | Retiree welfare plans [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Impact of decrease in actuarial assumption	CAD 16

Employee Future Benefits - S154

Employee Future Benefits - Summary of Potential Impact on Obligations Arising From Changes in Key Assumptions (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2017
U.S [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Decrease in mortality rates	10.00%
Canada [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Decrease in mortality rates	10.00%
Male [Member] | U.S [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Increase in life expectancy due to decrease in mortality rate	10 months 25 days
Male [Member] | Canada [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Increase in life expectancy due to decrease in mortality rate	9 months 18 days
Female [Member] | U.S [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Increase in life expectancy due to decrease in mortality rate	10 months 25 days
Female [Member] | Canada [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Increase in life expectancy due to decrease in mortality rate	9 months 18 days
Pension plans [Member] | Actuarial assumption of discount rates [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Percentage of reasonably possible increase in actuarial assumption	1.00%
Percentage of reasonably possible decrease in actuarial assumption	1.00%
Pension plans [Member] | Actuarial assumption of medical cost trend rates [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Percentage of reasonably possible increase in actuarial assumption	1.00%
Percentage of reasonably possible decrease in actuarial assumption	1.00%
Retiree welfare plans [Member] | Actuarial assumption of discount rates [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Percentage of reasonably possible increase in actuarial assumption	1.00%
Percentage of reasonably possible decrease in actuarial assumption	1.00%
Retiree welfare plans [Member] | Actuarial assumption of medical cost trend rates [Member]
Disclosure of sensitivity analysis for actuarial assumptions [Line Items]
Percentage of reasonably possible increase in actuarial assumption	1.00%
Percentage of reasonably possible decrease in actuarial assumption	1.00%

Employee Future Benefits - S155

Employee Future Benefits - Summary of Weighted Average Duration of the Defined Benefit Obligations (Detail) - yr	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pension plans [Member] | U.S. plans [Member]
Disclosure of defined benefit plans [Line Items]
Weighted average duration (in years) of the defined benefit obligations	9.5	9.2
Pension plans [Member] | Canadian plans [Member]
Disclosure of defined benefit plans [Line Items]
Weighted average duration (in years) of the defined benefit obligations	12.8	12.7
Retiree welfare plans [Member] | U.S. plans [Member]
Disclosure of defined benefit plans [Line Items]
Weighted average duration (in years) of the defined benefit obligations	9.8	9.1
Retiree welfare plans [Member] | Canadian plans [Member]
Disclosure of defined benefit plans [Line Items]
Weighted average duration (in years) of the defined benefit obligations	14.2	14.2

Employee Future Benefits - S156

Employee Future Benefits - Summary of Cash Payments (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pension plans [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Cash payment for future benefit plans	CAD 160	CAD 175
Pension plans [Member] | Defined benefit plans [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Cash payment for future benefit plans	85	106
Pension plans [Member] | Defined contribution plans [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Cash payment for future benefit plans	75	CAD 69
Retiree welfare plans [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Cash payment for future benefit plans	12
Retiree welfare plans [Member] | Defined benefit plans [Member]
Disclosure of net defined benefit liability (asset) [Line Items]
Cash payment for future benefit plans	CAD 12

Interests in Structured Enti157

Interests in Structured Entities - Additional Information (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of unconsolidated structured entities [Line Items]
Investment in startup capital of mutual funds	CAD 1,918		CAD 1,903
Retail mutual fund assets under management	195,472		CAD 169,919
Hancock Victoria Plantations Holdings PTY Limited [Member]
Disclosure of unconsolidated structured entities [Line Items]
Consolidated timber assets	CAD 884	CAD 920

Interests in Structured Enti158

Interests in Structured Entities - Schedule Investment and Maximum Exposure to Loss Related to Significant Unconsolidated Structured Entities (Detail) - Unconsolidated structured entities [Member] - Investment SEs [Member] - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of unconsolidated structured entities [Line Items]
Company's investment	CAD 4,370	CAD 4,432
Company's maximum exposure to loss	4,420	4,445
Leveraged leases [Member]
Disclosure of unconsolidated structured entities [Line Items]
Company's investment	3,273	3,369
Company's maximum exposure to loss	3,273	3,369
Timberland companies [Member]
Disclosure of unconsolidated structured entities [Line Items]
Company's investment	736	736
Company's maximum exposure to loss	786	749
Real estate companies [Member]
Disclosure of unconsolidated structured entities [Line Items]
Company's investment	361	327
Company's maximum exposure to loss	CAD 361	CAD 327

Interests in Structured Enti159

Interests in Structured Entities - Schedule of Interests and Maximum Exposure to Loss From Significant Unconsolidated Financing Structured Entities (Detail) - Unconsolidated structured entities [Member] - Financing SEs [Member] - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of unconsolidated structured entities [Line Items]
Company's interests	CAD 1,835	CAD 1,876
Manulife Finance (Delaware), L.P.[Member]
Disclosure of unconsolidated structured entities [Line Items]
Company's interests	835	876
Manulife Financial Capital Trust II [Member]
Disclosure of unconsolidated structured entities [Line Items]
Company's interests	CAD 1,000	CAD 1,000

Interests in Structured Enti160

Interests in Structured Entities - Schedule of Securitized Holdings by the Type and Asset Quality (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	CAD 3,576	CAD 3,513
AAA [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	2,503	2,269
AA [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	401	393
A [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	504	592
BBB [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	142	221
BB and below [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	26	CAD 38
CMBS [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	1,418
CMBS [Member] | AAA [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	1,390
CMBS [Member] | A [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	16
CMBS [Member] | BB and below [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	12
RMBS [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	45
RMBS [Member] | AAA [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	45
ABS [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	2,113
ABS [Member] | AAA [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	1,068
ABS [Member] | AA [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	401
ABS [Member] | A [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	488
ABS [Member] | BBB [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	142
ABS [Member] | BB and below [Member]
Disclosure of unconsolidated structured entities [Line Items]
Securitized holdings	CAD 14

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - CAD	Dec. 31, 2017	Dec. 31, 2016	Nov. 20, 2015	Jun. 01, 2015	Mar. 10, 2015	Dec. 01, 2014	Feb. 21, 2014	Nov. 29, 2013	Feb. 25, 2013
Disclosure of commitments and contingencies [Line Items]
Investment commitments outstanding	CAD 8,235,000,000	CAD 7,505,000,000
Letters of credit outstanding	77,000,000	83,000,000
Aggregate future minimum lease payments	838,000,000	966,000,000
Debt outstanding	4,785,000,000	5,696,000,000
Variable Surplus Note [Member]
Disclosure of commitments and contingencies [Line Items]
Debt outstanding	0	0
The Manufacturers Life Insurance Company [Member]
Disclosure of commitments and contingencies [Line Items]
Subordinate guaranteed issued			CAD 1,000,000,000	CAD 350,000,000	CAD 750,000,000	CAD 500,000,000	CAD 500,000,000	CAD 250,000,000	CAD 200,000,000
The Manufacturers Life Insurance Company [Member] | Subordinated debentures due on December 15, 2041 [Member]
Disclosure of commitments and contingencies [Line Items]
Guaranteed payment of amounts on subordinated debenture	650,000,000
Mature in 30 Days [Member]
Disclosure of commitments and contingencies [Line Items]
Investment commitments outstanding	682,000,000	268,000,000
Less than 1 year [Member]
Disclosure of commitments and contingencies [Line Items]
Investment commitments outstanding	2,177,000,000	2,665,000,000
Aggregate future minimum lease payments	126,000,000
Debt outstanding	401,000,000	7,000,000
Mature after One year [Member]
Disclosure of commitments and contingencies [Line Items]
Investment commitments outstanding	CAD 5,376,000,000	CAD 4,572,000,000

Commitments and Contingencie162

Commitments and Contingencies - Summary of Condensed Consolidated Statements of Income Information for MFC and MFLP (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Condensed Consolidated Statements of Income Information [Line Items]
Total revenue	CAD 58,323	CAD 53,337
Net income (loss) attributed to shareholders	2,104	2,929
MFC [Member]
Condensed Consolidated Statements of Income Information [Line Items]
Total revenue	182	518
Net income (loss) attributed to shareholders	2,104	2,929
MLI consolidated [Member]
Condensed Consolidated Statements of Income Information [Line Items]
Total revenue	58,445	53,219
Net income (loss) attributed to shareholders	2,467	2,916
Other subsidiaries of MFC on a combined basis [Member]
Condensed Consolidated Statements of Income Information [Line Items]
Total revenue	270	377
Net income (loss) attributed to shareholders	(257)	(359)
Consolidating adjustments [Member]
Condensed Consolidated Statements of Income Information [Line Items]
Total revenue	(574)	(777)
Net income (loss) attributed to shareholders	(2,210)	(2,557)
Manulife Finance (Delaware), L.P.[Member]
Condensed Consolidated Statements of Income Information [Line Items]
Total revenue	29	44
Net income (loss) attributed to shareholders	CAD 6	CAD (1)

Commitments and Contingencie163

Commitments and Contingencies - Summary of Condensed Consolidated Statements of Financial Position for MFC and MFLP (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Consolidated Statements of Financial Position [Line Items]
Invested assets	CAD 334,222	CAD 321,869
Total other assets	71,004	83,635
Segregated funds net assets	324,307	315,177
Insurance contract liabilities	304,605	297,505	CAD 285,288
Investment contract liabilities	3,126	3,275
Segregated funds net liabilities	324,307	315,177
Total other liabilities	55,332	61,901
MFC [Member]
Condensed Consolidated Statements of Financial Position [Line Items]
Invested assets	21	161
Total other assets	48,688	48,073
Total other liabilities	7,696	6,402
MLI consolidated [Member]
Condensed Consolidated Statements of Financial Position [Line Items]
Invested assets	334,191	321,698
Total other assets	71,180	83,607
Segregated funds net assets	324,307	315,177
Insurance contract liabilities	304,605	297,505
Investment contract liabilities	3,126	3,275
Segregated funds net liabilities	324,307	315,177
Total other liabilities	48,145	55,808
Other subsidiaries of MFC on a combined basis [Member]
Condensed Consolidated Statements of Financial Position [Line Items]
Invested assets	10	10
Total other assets	4	4
Consolidating adjustments [Member]
Condensed Consolidated Statements of Financial Position [Line Items]
Total other assets	(48,868)	(48,049)
Total other liabilities	(509)	(309)
Manulife Finance (Delaware), L.P.[Member]
Condensed Consolidated Statements of Financial Position [Line Items]
Invested assets	5	6
Total other assets	1,033	1,085
Total other liabilities	CAD 831	CAD 882

Commitments and Contingencie164

Commitments and Contingencies - Schedule of Pledged Assets (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Debt securities [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	CAD 3,818	CAD 5,345
Debt securities [Member] | Derivatives [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	3,189	4,678
Debt securities [Member] | Regulatory requirements [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	398	409
Debt securities [Member] | Repurchase agreements [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	228	255
Debt securities [Member] | Other [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	3	3
Other [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	815	837
Other [Member] | Derivatives [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	44	99
Other [Member] | Regulatory requirements [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	86	78
Other [Member] | Real estate [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	2	22
Other [Member] | Non-registered retirement plans in trust [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	412	464
Other [Member] | Other [Member]
Disclosure Of Pledged Assets [Line Items]
Pledged amount	CAD 271	CAD 174

Segmented Information - Summary

Segmented Information - Summary of Results by Segments (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of operating segments [line items]
Net premium income	CAD 28,210	CAD 27,632
Net investment income	19,367	14,524
Other revenue	10,746	11,181
Total revenue	58,323	53,337
Net benefits and claims	39,301	34,134
Interest expense	1,139	1,013
Other expenses	15,382	14,861
Total contract benefits and expenses	55,822	50,008
Income (loss) before income taxes	2,501	3,329
Income tax recovery (expense)	(239)	(196)
Net income (loss)	2,262	3,133
Non-controlling interests	194	143
Participating policyholders	(36)	61
Net income (loss) attributed to shareholders	2,104	2,929
Total assets	729,533	720,681
Life and health insurance [Member]
Disclosure of operating segments [line items]
Net premium income	24,355	23,268
Net benefits and claims	34,530	27,277
Annuities and pensions [Member]
Disclosure of operating segments [line items]
Net premium income	3,855	4,364
Net benefits and claims	4,771	6,857
Operating segments [Member] | Asia Division [Member]
Disclosure of operating segments [line items]
Net premium income	15,713	15,585
Net investment income	4,080	2,143
Other revenue	1,739	1,566
Total revenue	21,532	19,294
Net benefits and claims	14,012	13,348
Interest expense	164	146
Other expenses	4,937	4,241
Total contract benefits and expenses	19,113	17,735
Income (loss) before income taxes	2,419	1,559
Income tax recovery (expense)	(403)	(243)
Net income (loss)	2,016	1,316
Non-controlling interests	197	115
Participating policyholders	(30)	60
Net income (loss) attributed to shareholders	1,849	1,141
Total assets	105,233	92,843
Operating segments [Member] | Asia Division [Member] | Life and health insurance [Member]
Disclosure of operating segments [line items]
Net premium income	13,145	12,111
Net benefits and claims	11,961	10,435
Operating segments [Member] | Asia Division [Member] | Annuities and pensions [Member]
Disclosure of operating segments [line items]
Net premium income	2,568	3,474
Net benefits and claims	2,051	2,913
Operating segments [Member] | Canadian Division [Member]
Disclosure of operating segments [line items]
Net premium income	4,765	4,972
Net investment income	4,573	4,255
Other revenue	3,517	3,480
Total revenue	12,855	12,707
Net benefits and claims	7,457	6,386
Interest expense	307	305
Other expenses	4,435	4,279
Total contract benefits and expenses	12,199	10,970
Income (loss) before income taxes	656	1,737
Income tax recovery (expense)	95	(250)
Net income (loss)	751	1,487
Participating policyholders	(6)	1
Net income (loss) attributed to shareholders	757	1,486
Total assets	220,755	214,820
Operating segments [Member] | Canadian Division [Member] | Life and health insurance [Member]
Disclosure of operating segments [line items]
Net premium income	4,322	4,366
Net benefits and claims	5,644	5,207
Operating segments [Member] | Canadian Division [Member] | Annuities and pensions [Member]
Disclosure of operating segments [line items]
Net premium income	443	606
Net benefits and claims	1,813	1,179
Operating segments [Member] | US Division [Member]
Disclosure of operating segments [line items]
Net premium income	7,622	6,987
Net investment income	10,649	7,980
Other revenue	6,166	5,591
Total revenue	24,437	20,558
Net benefits and claims	17,371	13,594
Interest expense	37	45
Other expenses	6,050	5,619
Total contract benefits and expenses	23,458	19,258
Income (loss) before income taxes	979	1,300
Income tax recovery (expense)	(1,275)	(166)
Net income (loss)	(296)	1,134
Net income (loss) attributed to shareholders	(296)	1,134
Total assets	383,528	386,619
Operating segments [Member] | US Division [Member] | Life and health insurance [Member]
Disclosure of operating segments [line items]
Net premium income	6,778	6,703
Net benefits and claims	16,464	10,829
Operating segments [Member] | US Division [Member] | Annuities and pensions [Member]
Disclosure of operating segments [line items]
Net premium income	844	284
Net benefits and claims	907	2,765
Corporate and other [Member]
Disclosure of operating segments [line items]
Net premium income	110	88
Net investment income	65	146
Other revenue	(676)	544
Total revenue	(501)	778
Net benefits and claims	461	806
Interest expense	631	517
Other expenses	(40)	722
Total contract benefits and expenses	1,052	2,045
Income (loss) before income taxes	(1,553)	(1,267)
Income tax recovery (expense)	1,344	463
Net income (loss)	(209)	(804)
Non-controlling interests	(3)	28
Net income (loss) attributed to shareholders	(206)	(832)
Total assets	20,017	26,399
Corporate and other [Member] | Life and health insurance [Member]
Disclosure of operating segments [line items]
Net premium income	110	88
Net benefits and claims	CAD 461	CAD 806

Segmented Information - Summ166

Segmented Information - Summary of Results by Geographic Location (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of geographical areas [line items]
Net premium income	CAD 28,210	CAD 27,632
Net investment income	19,367	14,524
Other revenue	10,746	11,181
Total revenue	58,323	53,337
Life and health insurance [Member]
Disclosure of geographical areas [line items]
Net premium income	24,355	23,268
Annuities and pensions [Member]
Disclosure of geographical areas [line items]
Net premium income	3,855	4,364
Asia [Member]
Disclosure of geographical areas [line items]
Net premium income	15,783	15,658
Net investment income	4,258	2,368
Other revenue	1,632	1,608
Total revenue	21,673	19,634
Asia [Member] | Life and health insurance [Member]
Disclosure of geographical areas [line items]
Net premium income	13,215	12,184
Asia [Member] | Annuities and pensions [Member]
Disclosure of geographical areas [line items]
Net premium income	2,568	3,474
Canada [Member]
Disclosure of geographical areas [line items]
Net premium income	4,337	4,515
Net investment income	4,642	4,096
Other revenue	3,187	3,443
Total revenue	12,166	12,054
Canada [Member] | Life and health insurance [Member]
Disclosure of geographical areas [line items]
Net premium income	3,894	3,909
Canada [Member] | Annuities and pensions [Member]
Disclosure of geographical areas [line items]
Net premium income	443	606
U.S [Member]
Disclosure of geographical areas [line items]
Net premium income	7,624	6,989
Net investment income	10,407	7,880
Other revenue	5,911	6,105
Total revenue	23,942	20,974
U.S [Member] | Life and health insurance [Member]
Disclosure of geographical areas [line items]
Net premium income	6,780	6,705
U.S [Member] | Annuities and pensions [Member]
Disclosure of geographical areas [line items]
Net premium income	844	284
Other [Member]
Disclosure of geographical areas [line items]
Net premium income	466	470
Net investment income	60	180
Other revenue	16	25
Total revenue	542	675
Other [Member] | Life and health insurance [Member]
Disclosure of geographical areas [line items]
Net premium income	CAD 466	CAD 470

Related Parties - Summary of Co

Related Parties - Summary of Compensation of Key Management Personnel (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Compensation Of Key Management Personnel [abstract]
Short-term employee benefits	CAD 44	CAD 33
Post-employment benefits	3	3
Share-based payments	43	44
Termination benefits	6	4
Other long-term benefits	2	3
Total	CAD 98	CAD 87

Subsidiaries - Summary of Direc

Subsidiaries - Summary of Directly and Indirectly Held Major Operating Subsidiaries (Detail)	12 Months Ended
	Dec. 31, 2017
The Manufacturers Life Insurance Company [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	The Manufacturers Life Insurance Company
Address	Toronto, Canada
Description	Leading Canadian-based financial services company that offers a diverse range of financial protection products and wealth management services
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Holdings (Alberta) Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Holdings (Alberta) Limited
Address	Calgary, Canada
Description	Holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Financial Corporation [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Financial Corporation
Address	Wilmington, Delaware, U.S.A.
Description	Holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
The Manufacturers Investment Corporation [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	The Manufacturers Investment Corporation
Address	Michigan, U.S.A.
Description	Holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Reassurance Company Ltd. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Reassurance Company Ltd. U.S.A.
Address	Michigan, U.S.A.
Description	Captive insurance subsidiary that provides life, annuity and long-term care reinsurance to affiliates
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Life Insurance Company (U.S.A.) [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Life Insurance Company (U.S.A.)
Address	Michigan, U.S.A.
Description	U.S. life insurance company licensed in all states, except New York
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Subsidiaries LLC [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Subsidiaries LLC
Address	Wilmington, Delaware, U.S.A.
Description	Holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Financial Network, Inc. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Financial Network, Inc.
Address	Boston, Massachusetts, U.S.A.
Description	Financial services distribution organization
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Advisers, LLC [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Advisers, LLC
Address	Boston, Massachusetts, U.S.A.
Description	Investment advisor
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Funds LLC [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Funds, LLC
Address	Boston, Massachusetts, U.S.A.
Description	Broker-dealer
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Asset Management (US) LLC [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management (US) LLC
Address	Wilmington, Delaware, U.S.A.
Description	Asset management company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Hancock Natural Resource Group, Inc. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Hancock Natural Resource Group, Inc.
Address	Boston, Massachusetts, U.S.A.
Description	Manager of globally diversified timberland and agricultural portfolios
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Life Insurance Company of New York [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Life Insurance Company of New York
Address	New York, U.S.A.
Description	U.S. life insurance company licensed in New York
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Investment Management Services, LLC [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Investment Management Services, LLC
Address	Boston, Massachusetts, U.S.A.
Description	Investment advisor
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Life & Health Insurance Company [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Life & Health Insurance Company
Address	Boston, Massachusetts, U.S.A.
Description	U.S. life insurance company licensed in all states
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Distributors, LLC [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Distributors LLC
Address	Wilmington, Delaware, U.S.A.
Description	Broker-dealer
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
John Hancock Insurance Agency, Inc. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	John Hancock Insurance Agency, Inc.
Address	Wilmington, Delaware, U.S.A.
Description	Insurance agency
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Reinsurance Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Reinsurance Limited
Address	Hamilton, Bermuda
Description	Provides life and financial reinsurance to affiliates
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Reinsurance (Bermuda) Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Reinsurance (Bermuda) Limited
Address	Hamilton, Bermuda
Description	Provides life and annuity reinsurance to affiliates
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Bank of Canada [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Bank of Canada
Address	Waterloo, Canada
Description	Provides integrated banking products and service options not available from an insurance company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Asset Management Holdings (Canada) Inc. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management Holdings (Canada) Inc.
Address	Toronto, Canada
Description	Holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Asset Management Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management Limited
Address	Toronto, Canada
Description	Provides investment counseling, portfolio and mutual fund management in Canada
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
First North American Insurance Company [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	First North American Insurance Company
Address	Toronto, Canada
Description	Property and casualty insurance company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
NAL Resources Management Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	NAL Resources Management Limited
Address	Calgary, Canada
Description	Management company for oil and gas properties
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Resources Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Resources Limited
Address	Calgary, Canada
Description	Holds oil and gas properties
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Property Limited Partnership [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Property Limited Partnership
Address	Toronto, Canada
Description	Holds oil and gas royalties
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Property Limited Partnership II [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Property Limited Partnership II
Address	Toronto, Canada
Description	Holds oil and gas royalties and foreign bonds and equities
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Western Holdings Limited Partnership [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Western Holdings Limited Partnership
Address	Calgary, Canada
Description	Holds oil and gas properties
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Securities Investment Services Inc. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Securities Investment Services Inc.
Address	Oakville, Canada
Description	Mutual fund dealer for Canadian operations
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Holdings (Bermuda) Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Holdings (Bermuda) Limited
Address	Hamilton, Bermuda
Description	Holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manufacturers P & C Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manufacturers P & C Limited
Address	St. Michael, Barbados
Description	Provides property and casualty reinsurance
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Financial Asia Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Financial Asia Limited
Address	Hong Kong, China
Description	Holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife (Cambodia) PLC [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife (Cambodia) PLC
Address	Phnom Penh, Cambodia
Description	Life insurance company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manufacturers Life Reinsurance Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manufacturers Life Reinsurance Limited
Address	St. Michael, Barbados
Description	Provides life and annuity reinsurance to affiliates
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife (Vietnam) Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife (Vietnam) Limited
Address	Ho Chi Minh City, Vietnam
Description	Life insurance company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Asset Management (Vietnam) Company Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management (Vietnam) pany Limited
Address	Ho Chi Minh City, Vietnam
Description	Fund management company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife International Holdings Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife International Holdings Limited
Address	Hong Kong, China
Description	Holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife (International) Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife (International) Limited
Address	Hong Kong, China
Description	Life insurance company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife-Sinochem Life Insurance Co. Ltd. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife-Sinochem Life Insurance Co. Ltd. (51%)
Address	Shanghai, China
Description	Life insurance company
Percentage of ownership interest in subsidiary	51.00%
Percentage of voting rights held in subsidiary	51.00%
Manulife Asset Management International Holdings Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management International Holdings Limited
Address	Hong Kong, China
Description	Holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Asset Management (Hong Kong) Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management (Hong Kong) Limited
Address	Hong Kong, China
Description	Investment management and advisory company marketing mutual funds
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Asset Management (Taiwan) Co., Ltd. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management (Taiwan) Co.,Ltd.
Address	Taipei, Taiwan
Description	Asset management company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Life Insurance Company [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Life Insurance Company
Address	Tokyo, Japan
Description	Life insurance company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Asset Management (Japan) Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management (Japan) ited
Address	Tokyo, Japan
Description	Investment management and advisory company and mutual fund business
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Insurance (Thailand) Public Company Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Insurance (Thailand) Public pany Limited (92.1%)(1)
Address	Bangkok, Thailand
Description	Life insurance company
Percentage of ownership interest in subsidiary	92.10%
Percentage of voting rights held in subsidiary	98.10%
Manulife Asset Management (Thailand) Company Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management (Thailand) pany Limited (95.3%)(1)
Address	Bangkok, Thailand
Description	Investment management company
Percentage of ownership interest in subsidiary	95.30%
Percentage of voting rights held in subsidiary	98.90%
Manulife Holdings Berhad [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Holdings Berhad (59.5%)
Address	Kuala Lumpur, Malaysia
Description	Holding company
Percentage of ownership interest in subsidiary	59.50%
Percentage of voting rights held in subsidiary	59.50%
Manulife Insurance Berhad [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Insurance Berhad (59.5%)
Address	Kuala Lumpur, Malaysia
Description	Life insurance company
Percentage of ownership interest in subsidiary	59.50%
Percentage of voting rights held in subsidiary	59.50%
Manulife Asset Management Services Berhad [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management Services had (59.5%)
Address	Kuala Lumpur, Malaysia
Description	Asset management company
Percentage of ownership interest in subsidiary	59.50%
Percentage of voting rights held in subsidiary	59.50%
Manulife (Singapore) Pte. Ltd. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife (Singapore) Pte. Ltd.
Address	Singapore
Description	Life insurance company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Asset Management (Singapore) Pte. Ltd. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management (Singapore) Pte. Ltd.
Address	Singapore
Description	Asset management company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
The Manufacturers Life Insurance Co. (Phils.) Inc. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	The Manufacturers Life Insurance Co. (Phils.), Inc.
Address	Makati City, Philippines
Description	Life insurance company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Chinabank Life Assurance Corporation [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Chinabank Life Assurance Corporation (60%)
Address	Makati City, Philippines
Description	Life insurance company
Percentage of ownership interest in subsidiary	60.00%
Percentage of voting rights held in subsidiary	60.00%
PT Asuransi Jiwa Manulife Indonesia [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	PT Asuransi Jiwa Manulife Indonesia
Address	Jakarta, Indonesia
Description	Life insurance company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
PT Manulife Aset Manajemen Indonesia [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	PT Manulife Aset Manajemen Indonesia
Address	Jakarta, Indonesia
Description	Investment management company marketing mutual funds and discretionary funds
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Asset Management (Europe) Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management (Europe) Limited
Address	London, England
Description	Investment management company for Manulife Financial's international funds
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Assurance Company of Canada [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Assurance Company of Canada
Address	Toronto, Canada
Description	Life insurance company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
EIS Services Bermuda Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	EIS Services (Bermuda) Limited
Address	Hamilton, Bermuda
Description	Investment holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Berkshire Insurance Services Inc [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Berkshire Insurance Services Inc.
Address	Toronto, Canada
Description	Investment holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
JH Investments (Delaware) LLC [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	JH Investments (Delaware) LLC
Address	Boston, Massachusetts, U.S.A.
Description	Investment holding company
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Securities Incorporated [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Securities Incorporated
Address	Oakville, Canada
Description	Investment dealer
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Manulife Asset Management (North America) Limited [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Manulife Asset Management (North rica) Limited
Address	Toronto, Canada
Description	Investment advisor
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%
Regional Power Inc. [Member]
Disclosure of subsidiaries [Line Items]
Name of subsidiary	Regional Power Inc.
Address	Mississauga, Canada
Description	Developer and operator of hydro-electric power projects
Percentage of ownership interest in subsidiary	100.00%
Percentage of voting rights held in subsidiary	100.00%

Segregated Funds - Summary of C

Segregated Funds - Summary of Composition of Net Assets by Categories of Segregated Funds (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Bottom of range [Member] | Money market funds [Member]
Disclosure of composition of net assets by categories of segregated funds [line items]
Type of fund	2.00%	2.00%
Bottom of range [Member] | Fixed income funds [Member]
Disclosure of composition of net assets by categories of segregated funds [line items]
Type of fund	14.00%	14.00%
Bottom of range [Member] | Balanced funds [Member]
Disclosure of composition of net assets by categories of segregated funds [line items]
Type of fund	22.00%	22.00%
Bottom of range [Member] | Equity funds [Member]
Disclosure of composition of net assets by categories of segregated funds [line items]
Type of fund	55.00%	59.00%
Top of range [Member] | Money market funds [Member]
Disclosure of composition of net assets by categories of segregated funds [line items]
Type of fund	3.00%	3.00%
Top of range [Member] | Fixed income funds [Member]
Disclosure of composition of net assets by categories of segregated funds [line items]
Type of fund	15.00%	15.00%
Top of range [Member] | Balanced funds [Member]
Disclosure of composition of net assets by categories of segregated funds [line items]
Type of fund	29.00%	24.00%
Top of range [Member] | Equity funds [Member]
Disclosure of composition of net assets by categories of segregated funds [line items]
Type of fund	60.00%	61.00%

Segregated Funds - Summary o170

Segregated Funds - Summary of Composition of Segregated Funds Net Assets (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of Composition Of Segregated Fund [line items]
Total segregated funds net assets	CAD 324,808	CAD 315,708	CAD 313,747
Composition of segregated funds net assets
Held by policyholders	324,307	315,177
Held by the Company	501	531
Cash and short-term securities [Member]
Disclosure of Composition Of Segregated Fund [line items]
Total segregated funds net assets	4,756	4,524
Debt securities [Member]
Disclosure of Composition Of Segregated Fund [line items]
Total segregated funds net assets	15,472	15,651
Equity [Member]
Disclosure of Composition Of Segregated Fund [line items]
Total segregated funds net assets	12,624	12,458
Mutual funds [Member]
Disclosure of Composition Of Segregated Fund [line items]
Total segregated funds net assets	288,007	278,966
Other investments [Member]
Disclosure of Composition Of Segregated Fund [line items]
Total segregated funds net assets	4,514	4,552
Accrued investment income [Member]
Disclosure of Composition Of Segregated Fund [line items]
Total segregated funds net assets	201	201
Other assets and liabilities, net [Member]
Disclosure of Composition Of Segregated Fund [line items]
Total segregated funds net assets	CAD (766)	CAD (644)

Segregated Funds - Summary o171

Segregated Funds - Summary of Changes in Segregated Funds Net Assets (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net policyholder cash flow
Deposits from policyholders	CAD 34,776	CAD 33,130
Net transfers to general fund	(1,734)	(878)
Payments to policyholders	(45,970)	(39,731)
Net policyholder cash flow	(12,928)	(7,479)
Investment related
Interest and dividends	16,930	15,736
Net realized and unrealized investment gains	24,384	4,097
Investment related	41,314	19,833
Other
Management and administration fees	(4,496)	(4,386)
Impact of changes in foreign exchange rates	(14,790)	(6,007)
Other	(19,286)	(10,393)
Net additions	9,100	1,961
Segregated funds net assets, beginning of year	315,708	313,747
Segregated funds net assets, end of year	CAD 324,808	CAD 315,708

Information Provided in Conn172

Information Provided in Connection with Investments in Deferred Annuity Contracts and SignatureNotes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.) - Summary of Condensed Consolidated Statement of Financial Position (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Invested assets	CAD 334,222	CAD 321,869
Reinsurance assets	30,359	34,952
Other assets	40,645	48,683
Segregated funds net assets	324,307	315,177
Total assets	729,533	720,681
Liabilities and Equity
Insurance contract liabilities	304,605	297,505	CAD 285,288
Investment contract liabilities	3,126	3,275
Other liabilities	42,160	49,025
Long-term debt	4,785	5,696
Capital instruments	8,387	7,180
Segregated funds net liabilities	324,307	315,177
Shareholders' equity	41,013	41,832
Participating policyholders' equity	221	248
Non-controlling interests	929	743
Total liabilities and equity	729,533	720,681
MFC (Guarantor) [Member]
Assets
Invested assets	21	161
Investments in unconsolidated subsidiaries	48,374	47,758
Other assets	314	315
Total assets	48,709	48,234
Liabilities and Equity
Other liabilities	297	252
Long-term debt	4,784	5,689
Capital instruments	2,615	461
Shareholders' equity	41,013	41,832
Total liabilities and equity	48,709	48,234
JHUSA (Issuer) [Member]
Assets
Invested assets	108,144	109,063
Investments in unconsolidated subsidiaries	6,509	6,457
Reinsurance assets	49,927	51,537
Other assets	18,678	28,718
Segregated funds net assets	176,139	174,917
Total assets	359,397	370,692
Liabilities and Equity
Insurance contract liabilities	147,155	147,504
Investment contract liabilities	1,130	1,251
Other liabilities	19,399	28,892
Capital instruments	584	627
Segregated funds net liabilities	176,139	174,917
Shareholders' equity	14,990	17,501
Total liabilities and equity	359,397	370,692
Other subsidiaries
Assets
Invested assets	226,421	213,043
Investments in unconsolidated subsidiaries	14,999	17,504
Reinsurance assets	8,281	10,069
Other assets	40,715	43,931
Segregated funds net assets	149,812	142,400
Total assets	440,228	426,947
Liabilities and Equity
Insurance contract liabilities	185,884	177,524
Investment contract liabilities	1,998	2,027
Other liabilities	41,394	43,994
Long-term debt	1	7
Capital instruments	5,188	6,092
Segregated funds net liabilities	149,812	142,400
Shareholders' equity	54,801	53,912
Participating policyholders' equity	221	248
Non-controlling interests	929	743
Total liabilities and equity	440,228	426,947
Consolidation adjustments [Member]
Assets
Invested assets	(364)	(398)
Investments in unconsolidated subsidiaries	(69,882)	(71,719)
Reinsurance assets	(27,849)	(26,654)
Other assets	(19,062)	(24,281)
Segregated funds net assets	(1,644)	(2,140)
Total assets	(118,801)	(125,192)
Liabilities and Equity
Insurance contract liabilities	(28,434)	(27,523)
Investment contract liabilities	(2)	(3)
Other liabilities	(18,930)	(24,113)
Segregated funds net liabilities	(1,644)	(2,140)
Shareholders' equity	(69,791)	(71,413)
Total liabilities and equity	CAD (118,801)	CAD (125,192)

Information Provided in Conn173

Information Provided in Connection with Investments in Deferred Annuity Contracts and SignatureNotes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.) - Summary of Condensed Consolidated Statement of Income (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Revenue
Net premium income	CAD 28,210	CAD 27,632
Net investment income (loss)	19,367	14,524
Net other revenue	10,746	11,181
Total revenue	58,323	53,337
Contract benefits and expenses
Net benefits and claims	39,301	34,134
Commissions, investment and general expenses	15,022	14,459
Other expenses	1,499	1,415
Total contract benefits and expenses	55,822	50,008
Income (loss) before income taxes	2,501	3,329
Income tax (expense) recovery	(239)	(196)
Income (loss) after income taxes	2,262	3,133
Net income	2,262	3,133
Net income (loss) attributed to:
Non-controlling interests	194	143
Participating policyholders	(36)	61
Shareholders	2,104	2,929
Net income	2,262	3,133
MFC (Guarantor) [Member]
Revenue
Net investment income (loss)	178	475
Net other revenue	4	43
Total revenue	182	518
Contract benefits and expenses
Commissions, investment and general expenses	11	11
Other expenses	404	259
Total contract benefits and expenses	415	270
Income (loss) before income taxes	(233)	248
Income tax (expense) recovery	62	28
Income (loss) after income taxes	(171)	276
Equity in net income (loss) of unconsolidated subsidiaries	2,275	2,653
Net income	2,104	2,929
Net income (loss) attributed to:
Shareholders	2,104	2,929
Net income	2,104	2,929
JHUSA (Issuer) [Member]
Revenue
Net premium income	11,084	5,021
Net investment income (loss)	7,986	6,191
Net other revenue	2,874	2,569
Total revenue	21,944	13,781
Contract benefits and expenses
Net benefits and claims	20,803	10,340
Commissions, investment and general expenses	3,208	3,272
Other expenses	194	59
Total contract benefits and expenses	24,205	13,671
Income (loss) before income taxes	(2,261)	110
Income tax (expense) recovery	1,134	251
Income (loss) after income taxes	(1,127)	361
Equity in net income (loss) of unconsolidated subsidiaries	628	211
Net income	(499)	572
Net income (loss) attributed to:
Participating policyholders	(10)	(48)
Shareholders	(489)	620
Net income	(499)	572
Other subsidiaries
Revenue
Net premium income	17,130	22,611
Net investment income (loss)	11,947	9,092
Net other revenue	10,912	11,108
Total revenue	39,989	42,811
Contract benefits and expenses
Net benefits and claims	19,179	24,748
Commissions, investment and general expenses	13,900	13,016
Other expenses	1,915	2,076
Total contract benefits and expenses	34,994	39,840
Income (loss) before income taxes	4,995	2,971
Income tax (expense) recovery	(1,435)	(475)
Income (loss) after income taxes	3,560	2,496
Equity in net income (loss) of unconsolidated subsidiaries	(486)	572
Net income	3,074	3,068
Net income (loss) attributed to:
Non-controlling interests	194	143
Participating policyholders	(36)	61
Shareholders	2,916	2,864
Net income	3,074	3,068
Consolidation adjustments [Member]
Revenue
Net premium income	(4)
Net investment income (loss)	(744)	(1,234)
Net other revenue	(3,044)	(2,539)
Total revenue	(3,792)	(3,773)
Contract benefits and expenses
Net benefits and claims	(681)	(954)
Commissions, investment and general expenses	(2,097)	(1,840)
Other expenses	(1,014)	(979)
Total contract benefits and expenses	(3,792)	(3,773)
Equity in net income (loss) of unconsolidated subsidiaries	(2,417)	(3,436)
Net income	(2,417)	(3,436)
Net income (loss) attributed to:
Participating policyholders	10	48
Shareholders	(2,427)	(3,484)
Net income	CAD (2,417)	CAD (3,436)

Information Provided in Conn174

Information Provided in Connection with Investments in Deferred Annuity Contracts and SignatureNotes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.) - Consolidated Statement of Cash Flows (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net income (loss)	CAD 2,262	CAD 3,133
Adjustments:
Increase (decrease) in insurance contract liabilities	20,023	18,014
Increase (decrease) in investment contract liabilities	173
(Increase) decrease in reinsurance assets	2,269	(842)
Amortization of (premium) discount on invested assets	230	78
Other amortization	560	693
Net realized and unrealized (gains) losses and impairment on assets	(7,188)	(2,804)
Deferred income tax expense (recovery)	(331)	(235)
Stock option expense	15	19
Cash provided by (used in) operating activities before undernoted items	18,013	18,056
Changes in policy related and operating receivables and payables	(222)	(1,039)
Cash provided by (used in) operating activities	17,791	17,017
Investing activities
Purchases and mortgage advances	(87,224)	(104,059)
Disposals and repayments	70,720	82,001
Changes in investment broker net receivables and payables	227	(186)
Net cash decrease from sale and purchase of subsidiaries and businesses	(10)	(495)
Cash provided by (used in) investing activities	(16,287)	(22,739)
Financing activities
(Decrease) increase in repurchase agreements and securities sold but not yet purchased	(29)	(23)
Issue of long-term debt, net		3,899
Redemption of long-term debt	(607)	(158)
Issue of capital instruments, net	2,209	479
Redemption of capital instruments	(899)	(949)
Secured borrowings from securitization transactions	741	847
Changes in deposits from Bank clients, net	261	(157)
Shareholders' dividends paid in cash	(1,780)	(1,593)
Contributions from (distributions to) non-controlling interests, net	(6)	10
Common shares issued, net	124	66
Preferred shares issued, net		884
Cash provided by (used in) financing activities	14	3,305
Increase (decrease) during the year	1,518	(2,417)
Effect of foreign exchange rate changes on cash and short-term securities	(658)	(347)
Balance, beginning of year	14,238	17,002
Balance, December 31	15,098	14,238
Cash and short-term securities
Gross cash and short-term securities, beginning of year	15,151	17,885
Net payments in transit, included in other liabilities, beginning of year	(913)	(883)
Balance, beginning of year	14,238	17,002
Gross cash and short-term securities, end of year	15,965	15,151
Net payments in transit, included in other liabilities, end of year	(867)	(913)
Balance, December 31	15,098	14,238
Supplemental disclosures on cash flow information:
Interest received	10,596	10,550
Interest paid	1,118	983
Income taxes paid	1,360	841
MFC (Guarantor) [Member]
Operating activities
Net income (loss)	2,104	2,929
Adjustments:
Equity in net income of unconsolidated subsidiaries	(2,275)	(2,653)
Other amortization	4	2
Net realized and unrealized (gains) losses and impairment on assets	(7)	(9)
Deferred income tax expense (recovery)	(59)	3
Cash provided by (used in) operating activities before undernoted items	(233)	272
Dividends from unconsolidated subsidiary	2,700	1,950
Changes in policy related and operating receivables and payables	(45)	171
Cash provided by (used in) operating activities	2,422	2,393
Investing activities
Purchases and mortgage advances		(32)
Investment in common shares of subsidiaries	(2,473)	(5,706)
Notes receivable from subsidiaries	(16)	(6)
Cash provided by (used in) investing activities	(2,489)	(5,744)
Financing activities
Issue of long-term debt, net		3,899
Redemption of long-term debt	(600)
Issue of capital instruments, net	2,209	479
Shareholders' dividends paid in cash	(1,780)	(1,593)
Common shares issued, net	124	66
Preferred shares issued, net		884
Notes payable to subsidiaries	(24)	(344)
Cash provided by (used in) financing activities	(71)	3,391
Increase (decrease) during the year	(138)	40
Effect of foreign exchange rate changes on cash and short-term securities	(2)	(1)
Balance, beginning of year	161	122
Balance, December 31	21	161
Cash and short-term securities
Gross cash and short-term securities, beginning of year	161	122
Balance, beginning of year	161	122
Gross cash and short-term securities, end of year	21	161
Balance, December 31	21	161
Supplemental disclosures on cash flow information:
Interest received	273
Interest paid	392	210
Income taxes paid	99	35
JHUSA (Issuer) [Member]
Operating activities
Net income (loss)	(499)	572
Adjustments:
Equity in net income of unconsolidated subsidiaries	(628)	(211)
Increase (decrease) in insurance contract liabilities	16,877	5,225
Increase (decrease) in investment contract liabilities	55	58
(Increase) decrease in reinsurance assets	(1,890)	(1,444)
Amortization of (premium) discount on invested assets	24	(5)
Other amortization	123	284
Net realized and unrealized (gains) losses and impairment on assets	(2,609)	(917)
Deferred income tax expense (recovery)	(2,239)	391
Stock option expense	(4)	(1)
Cash provided by (used in) operating activities before undernoted items	9,210	3,952
Dividends from unconsolidated subsidiary	125	111
Changes in policy related and operating receivables and payables	(4,627)	(1,291)
Cash provided by (used in) operating activities	4,708	2,772
Investing activities
Purchases and mortgage advances	(30,645)	(34,656)
Disposals and repayments	26,952	32,343
Changes in investment broker net receivables and payables	182	(35)
Capital contribution to unconsolidated subsidiaries	(63)	(350)
Return of capital from unconsolidated subsidiaries	11	1
Notes receivable from parent	368
Notes receivable from subsidiaries	(10)	(40)
Cash provided by (used in) investing activities	(3,205)	(2,737)
Financing activities
Dividends paid to parent	(1,175)
Notes payable to affiliates	(201)	(544)
Cash provided by (used in) financing activities	(1,376)	(544)
Increase (decrease) during the year	127	(509)
Effect of foreign exchange rate changes on cash and short-term securities	(276)	(149)
Balance, beginning of year	3,787	4,445
Balance, December 31	3,638	3,787
Cash and short-term securities
Gross cash and short-term securities, beginning of year	4,317	4,938
Net payments in transit, included in other liabilities, beginning of year	(530)	(493)
Balance, beginning of year	3,787	4,445
Gross cash and short-term securities, end of year	4,133	4,317
Net payments in transit, included in other liabilities, end of year	(495)	(530)
Balance, December 31	3,638	3,787
Supplemental disclosures on cash flow information:
Interest received	4,391	4,523
Interest paid	96	144
Income taxes paid	1,084	68
Other subsidiaries
Operating activities
Net income (loss)	3,074	3,068
Adjustments:
Equity in net income of unconsolidated subsidiaries	486	(572)
Increase (decrease) in insurance contract liabilities	3,146	12,789
Increase (decrease) in investment contract liabilities	118	(58)
(Increase) decrease in reinsurance assets	4,159	602
Amortization of (premium) discount on invested assets	206	83
Other amortization	433	407
Net realized and unrealized (gains) losses and impairment on assets	(4,572)	(1,878)
Deferred income tax expense (recovery)	1,967	(629)
Stock option expense	19	20
Cash provided by (used in) operating activities before undernoted items	9,036	13,832
Dividends from unconsolidated subsidiary	1,175
Changes in policy related and operating receivables and payables	4,450	81
Cash provided by (used in) operating activities	14,661	13,913
Investing activities
Purchases and mortgage advances	(56,579)	(69,371)
Disposals and repayments	43,768	49,658
Changes in investment broker net receivables and payables	45	(151)
Net cash decrease from sale and purchase of subsidiaries and businesses	(10)	(495)
Notes receivable from affiliates	201	544
Notes receivable from parent	24	344
Cash provided by (used in) investing activities	(12,551)	(19,471)
Financing activities
(Decrease) increase in repurchase agreements and securities sold but not yet purchased	(29)	(23)
Redemption of long-term debt	(7)	(158)
Redemption of capital instruments	(899)	(949)
Secured borrowings from securitization transactions	741	847
Changes in deposits from Bank clients, net	261	(157)
Contributions from (distributions to) non-controlling interests, net	(6)	10
Common shares issued, net	2,473	5,706
Dividends paid to parent	(2,825)	(2,061)
Capital contributions by parent	63	350
Return of capital to parent	(11)	(1)
Notes payable to parent	26	46
Notes payable to subsidiaries	(368)
Cash provided by (used in) financing activities	(581)	3,610
Increase (decrease) during the year	1,529	(1,948)
Effect of foreign exchange rate changes on cash and short-term securities	(380)	(197)
Balance, beginning of year	10,290	12,435
Balance, December 31	11,439	10,290
Cash and short-term securities
Gross cash and short-term securities, beginning of year	10,673	12,825
Net payments in transit, included in other liabilities, beginning of year	(383)	(390)
Balance, beginning of year	10,290	12,435
Gross cash and short-term securities, end of year	11,811	10,673
Net payments in transit, included in other liabilities, end of year	(372)	(383)
Balance, December 31	11,439	10,290
Supplemental disclosures on cash flow information:
Interest received	6,504	6,795
Interest paid	1,202	1,397
Income taxes paid	177	738
Consolidation adjustments [Member]
Operating activities
Net income (loss)	(2,417)	(3,436)
Adjustments:
Equity in net income of unconsolidated subsidiaries	2,417	3,436
Dividends from unconsolidated subsidiary	(4,000)	(2,061)
Cash provided by (used in) operating activities	(4,000)	(2,061)
Investing activities
Investment in common shares of subsidiaries	2,473	5,706
Capital contribution to unconsolidated subsidiaries	63	350
Return of capital from unconsolidated subsidiaries	(11)	(1)
Notes receivable from affiliates	(201)	(544)
Notes receivable from parent	(392)	(344)
Notes receivable from subsidiaries	26	46
Cash provided by (used in) investing activities	1,958	5,213
Financing activities
Common shares issued, net	(2,473)	(5,706)
Dividends paid to parent	4,000	2,061
Capital contributions by parent	(63)	(350)
Return of capital to parent	11	1
Notes payable to affiliates	201	544
Notes payable to parent	(26)	(46)
Notes payable to subsidiaries	392	344
Cash provided by (used in) financing activities	2,042	(3,152)
Supplemental disclosures on cash flow information:
Interest received	(572)	(768)
Interest paid	CAD (572)	CAD (768)

IFRS 7 Disclosures - Summary of

IFRS 7 Disclosures - Summary of Risk Management Strategies (Detail)	12 Months Ended
	Dec. 31, 2017
Publicly Traded Equity Performance Risk [Member]
Disclosure of risk management strategy [Line Items]
Product design and pricing	Yes
Variable annuity guarantee dynamic hedging	Yes
Macro equity risk hedging	Yes
Asset liability management	Yes
Foreign exchange management	No
Interest Rate and Spread Risk [Member]
Disclosure of risk management strategy [Line Items]
Product design and pricing	Yes
Variable annuity guarantee dynamic hedging	Yes
Macro equity risk hedging	No
Asset liability management	Yes
Foreign exchange management	No
Alternative Long-Duration Asset Performance Risk [Member]
Disclosure of risk management strategy [Line Items]
Product design and pricing	Yes
Variable annuity guarantee dynamic hedging	No
Macro equity risk hedging	No
Asset liability management	Yes
Foreign exchange management	No
Foreign Exchange Risk [Member]
Disclosure of risk management strategy [Line Items]
Product design and pricing	Yes
Variable annuity guarantee dynamic hedging	Yes
Macro equity risk hedging	Yes
Asset liability management	Yes
Foreign exchange management	Yes

IFRS 7 Disclosures - Additional

IFRS 7 Disclosures - Additional Information (Detail) CAD in Millions	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD	Dec. 31, 2017CAD	Dec. 31, 2017USD ($)
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Liabilities on current in-force business due period	2018 to 2038
Dynamically hedged variable annuity guarantee best estimate liabilities, rebalancing percentage intervals	5.00%
Sensitivity of net income attributed to shareholders	0.50%
Variable annuity guarantee liabilities, rebalanced basis point intervals	0.20%
Net after-tax unrealized loss position of AFS fixed income assets | CAD			CAD 223
Total unencumbered assets | CAD		CAD 396,300	396,800
50 basis point decrease in interest
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Sensitivity of our net income attributed to shareholders due to change in interest rate	$ (200,000,000)
50 basis point increase in interest
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Sensitivity of our net income attributed to shareholders due to change in interest rate	100,000,000
50 basis point decrease in corporate spreads [Member]
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Increase in sensitivity due to decision to reduce the allocation to ALDA in the portfolio asset	200,000,000
-10% [Member]
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Potential impact on net income attributed to shareholders arising from lower U.S. corporate income tax rate	$ 300,000,000
Unsecured revolving credit facility [Member] | Canadian chartered banks [Member]
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Estimated maximum borrowing capacity | CAD			CAD 500
Unsecured revolving credit facility [Member] | U.S.banks [Member]
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Estimated maximum borrowing capacity				$ 500,000,000
Amounts outstanding				0
FHLBI facility [Member]
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Estimated maximum borrowing capacity				4,300,000,000
Amounts outstanding				$ 0
10% [Member]
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Percentage of expected changes in market values of publicly traded equities	10.00%	10.00%
20% [Member]
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Percentage of expected changes in market values of publicly traded equities	20.00%	20.00%
30% [Member]
Financial Instruments - Disclosures under IFRS 7 [Line Items]
Percentage of expected changes in market values of publicly traded equities	30.00%	30.00%

IFRS 7 Disclosures - Variable A

IFRS 7 Disclosures - Variable Annuity and Segregated Fund Guarantees, Net of Reinsurance (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Total gross of reinsurance, Guarantee value	CAD 95,873	CAD 106,263
Total reinsured, Guarantee value	7,536	8,670
Total, net of reinsurance, Guarantee value	88,337	97,593
Total gross of reinsurance, Fund value	96,385	100,628
Total reinsured, Fund value	6,707	7,105
Total, net of reinsurance, Fund value	89,678	93,523
Total gross of reinsurance, Amount at risk	8,029	12,082
Total reinsured, Amount at risk	1,346	1,913
Total, net of reinsurance, Amount at risk	6,683	10,169
Amount at risk net of reinsurance	6,683	10,169
Guaranteed minimum income benefit [Member]
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Total gross of reinsurance, Guarantee value	5,201	5,987
Total gross of reinsurance, Fund value	4,195	4,432
Total gross of reinsurance, Amount at risk	1,074	1,570
Guaranteed minimum withdrawal benefit [Member]
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Total gross of reinsurance, Guarantee value	61,767	68,594
Total gross of reinsurance, Fund value	56,512	59,593
Total gross of reinsurance, Amount at risk	5,943	9,135
Guaranteed Minimum Accumulation Benefit 1 [Member]
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Total gross of reinsurance, Guarantee value	18,162	19,482
Total gross of reinsurance, Fund value	18,705	19,989
Total gross of reinsurance, Amount at risk	11	27
Living benefits [Member]
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Total gross of reinsurance, Guarantee value	85,130	94,063
Total reinsured, Guarantee value	4,522	5,241
Total gross of reinsurance, Fund value	79,412	84,014
Total reinsured, Fund value	3,667	3,903
Total gross of reinsurance, Amount at risk	7,028	10,732
Total reinsured, Amount at risk	911	1,349
Death benefits [Member]
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Total gross of reinsurance, Guarantee value	10,743	12,200
Total reinsured, Guarantee value	3,014	3,429
Total gross of reinsurance, Fund value	16,973	16,614
Total reinsured, Fund value	3,040	3,202
Total gross of reinsurance, Amount at risk	1,001	1,350
Total reinsured, Amount at risk	CAD 435	CAD 564

IFRS 7 Disclosures - Variabl178

IFRS 7 Disclosures - Variable Annuity and Segregated Fund Guarantees, Net of Reinsurance (Parenthetical) (Detail) CAD in Millions, $ in Millions	Dec. 31, 2017CAD	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD	Dec. 31, 2016USD ($)
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Amount at risk net of reinsurance | CAD	CAD 6,683		CAD 10,169
U.S [Member]
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Amount at risk net of reinsurance		$ 3,982		$ 6,008
Canada [Member]
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Amount at risk net of reinsurance | CAD	CAD 1,342		CAD 1,499
Japan [Member]
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Amount at risk net of reinsurance		95		206
Asia [Member]
Variable Annuity And Segregated Fund Guarantees Net Of Reinsurance [Line Items]
Amount at risk net of reinsurance		$ 181		$ 244

IFRS 7 Disclosures - Summary179

IFRS 7 Disclosures - Summary of Account Balances by Investment Category (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Investment Categories For Variable Contracts With Guarantees [Line Items]
Investments for variable contracts with guarantees	CAD 111,654	CAD 114,898
Equity funds [Member]
Investment Categories For Variable Contracts With Guarantees [Line Items]
Investments for variable contracts with guarantees	47,508	41,805
Balanced funds [Member]
Investment Categories For Variable Contracts With Guarantees [Line Items]
Investments for variable contracts with guarantees	47,369	57,571
Bond funds [Member]
Investment Categories For Variable Contracts With Guarantees [Line Items]
Investments for variable contracts with guarantees	13,095	11,588
Money market funds [Member]
Investment Categories For Variable Contracts With Guarantees [Line Items]
Investments for variable contracts with guarantees	1,905	2,127
Other fixed interest rate investments [Member]
Investment Categories For Variable Contracts With Guarantees [Line Items]
Investments for variable contracts with guarantees	CAD 1,777	CAD 1,807

IFRS 7 Disclosures - Schedule o

IFRS 7 Disclosures - Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders Arising from Changes to Public Equity Returns (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
-30% [Member]
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [Line Items]
Variable annuity guarantees	CAD (3,940)	CAD (4,830)
Asset based fees	(510)	(410)
General fund equity investments	(930)	(910)
Total underlying sensitivity before hedging	(5,380)	(6,150)
Impact of macro and dynamic hedge assets	3,220	4,050
Net potential impact on net income attributed to shareholders after impact of hedging	(2,160)	(2,100)
-20% [Member]
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [Line Items]
Variable annuity guarantees	(2,260)	(2,920)
Asset based fees	(340)	(280)
General fund equity investments	(590)	(590)
Total underlying sensitivity before hedging	(3,190)	(3,790)
Impact of macro and dynamic hedge assets	1,850	2,440
Net potential impact on net income attributed to shareholders after impact of hedging	(1,340)	(1,350)
-10% [Member]
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [Line Items]
Variable annuity guarantees	(960)	(1,290)
Asset based fees	(170)	(140)
General fund equity investments	(270)	(270)
Total underlying sensitivity before hedging	(1,400)	(1,700)
Impact of macro and dynamic hedge assets	790	1,060
Net potential impact on net income attributed to shareholders after impact of hedging	(610)	(640)
10% [Member]
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [Line Items]
Variable annuity guarantees	670	1,000
Asset based fees	170	140
General fund equity investments	270	240
Total underlying sensitivity before hedging	1,110	1,380
Impact of macro and dynamic hedge assets	(640)	(910)
Net potential impact on net income attributed to shareholders after impact of hedging	470	470
20% [Member]
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [Line Items]
Variable annuity guarantees	1,110	1,690
Asset based fees	340	280
General fund equity investments	540	490
Total underlying sensitivity before hedging	1,990	2,460
Impact of macro and dynamic hedge assets	(1,100)	(1,610)
Net potential impact on net income attributed to shareholders after impact of hedging	890	850
30% [Member]
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [Line Items]
Variable annuity guarantees	1,410	2,170
Asset based fees	510	410
General fund equity investments	810	750
Total underlying sensitivity before hedging	2,730	3,330
Impact of macro and dynamic hedge assets	(1,410)	(2,160)
Net potential impact on net income attributed to shareholders after impact of hedging	CAD 1,320	CAD 1,170

IFRS 7 Disclosures - Schedul181

IFRS 7 Disclosures - Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders Arising from Changes to Public Equity Returns (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [Line Items]
Interval percentage of which impact of rebalancing equity hedges for dynamically hedged variable annuity guarantee best estimate liabilities	5.00%	5.00%
10% [Member]
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [Line Items]
Percentage of changes in market values of publicly traded equities	10.00%	10.00%
20% [Member]
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [Line Items]
Percentage of changes in market values of publicly traded equities	20.00%	20.00%
30% [Member]
Schedule of Potential Immediate Impact on Net Income Attributed to Shareholders by Changes to Public Equity Returns [Line Items]
Percentage of changes in market values of publicly traded equities	30.00%	30.00%

IFRS 7 Disclosures - Schedul182

IFRS 7 Disclosures - Schedule of Potential Immediate Impact on MLI's MCCSR Ratio Arising from Public Equity Returns Different than Expected Return for Policy Liability Valuation (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
-30% [Member]
Schedule of Potential Immediate Impact on MCCSR by Changes to Public Equity Returns Different than Expected Return for Policy Liability Valuation [Line Items]
Potential Impact to MCCSR Ratio Resulting From Changes in Public Equity Market Values	(14.00%)	(12.00%)
-20% [Member]
Schedule of Potential Immediate Impact on MCCSR by Changes to Public Equity Returns Different than Expected Return for Policy Liability Valuation [Line Items]
Potential Impact to MCCSR Ratio Resulting From Changes in Public Equity Market Values	(8.00%)	(8.00%)
-10% [Member]
Schedule of Potential Immediate Impact on MCCSR by Changes to Public Equity Returns Different than Expected Return for Policy Liability Valuation [Line Items]
Potential Impact to MCCSR Ratio Resulting From Changes in Public Equity Market Values	(4.00%)	(4.00%)
10% [Member]
Schedule of Potential Immediate Impact on MCCSR by Changes to Public Equity Returns Different than Expected Return for Policy Liability Valuation [Line Items]
Potential Impact to MCCSR Ratio Resulting From Changes in Public Equity Market Values	3.00%	3.00%
20% [Member]
Schedule of Potential Immediate Impact on MCCSR by Changes to Public Equity Returns Different than Expected Return for Policy Liability Valuation [Line Items]
Potential Impact to MCCSR Ratio Resulting From Changes in Public Equity Market Values	11.00%	14.00%
30% [Member]
Schedule of Potential Immediate Impact on MCCSR by Changes to Public Equity Returns Different than Expected Return for Policy Liability Valuation [Line Items]
Potential Impact to MCCSR Ratio Resulting From Changes in Public Equity Market Values	14.00%	18.00%

IFRS 7 Disclosures - Schedul183

IFRS 7 Disclosures - Schedule of Potential Immediate Impact on MLI's MCCSR Ratio Arising from Public Equity Returns Different than Expected Return for Policy Liability Valuation (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Potential Immediate Impact on MCCSR by Changes to Public Equity Returns [Abstract]
Interval percentage of which impact of rebalancing equity hedges for dynamically hedged variable annuity guarantee best estimate liabilities	5.00%	5.00%

IFRS 7 Disclosures - Summary184

IFRS 7 Disclosures - Summary of Potential Impact on Net Income Attributed to Shareholders and MLI's MCCSR Ratio of an Immediate Parallel Change in Interest Rates (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
-50bp [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Excluding change in market value of AFS fixed income assets held in the surplus segment	CAD (200)
From fair value changes in AFS fixed income assets held in surplus, if realized	CAD 1,100	CAD 1,000
MLI's MCCSR ratio, before impact of change in market value of AFS fixed income assets held in the surplus segment	(7.00%)	(6.00%)
MLI's MCCSR ratio, from fair value changes in AFS fixed income assets held in surplus, if realized	4.00%	1.00%
+50bp [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Excluding change in market value of AFS fixed income assets held in the surplus segment	CAD 100
From fair value changes in AFS fixed income assets held in surplus, if realized	CAD (1,000)	CAD (900)
MLI's MCCSR ratio, before impact of change in market value of AFS fixed income assets held in the surplus segment	5.00%	5.00%
MLI's MCCSR ratio, from fair value changes in AFS fixed income assets held in surplus, if realized	(5.00%)	(4.00%)

IFRS 7 Disclosures - Summary185

IFRS 7 Disclosures - Summary of Potential Impact on Net Income Attributed to Shareholders Arising from Changes to Spreads (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
+50bp [Member] | Corporate spreads [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Potential impact on net income attributed to shareholders arising from changes to spreads	CAD 1,000	CAD 700
-50bp [Member] | Corporate spreads [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Potential impact on net income attributed to shareholders arising from changes to spreads	(1,000)	(800)
+20bp [Member] | Swap contracts [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Potential impact on net income attributed to shareholders arising from changes to spreads	(400)	(500)
-20bp [Member] | Swap contracts [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Potential impact on net income attributed to shareholders arising from changes to spreads	400	500
-10% [Member] | Alternative Long-Duration Asset Performance Risk [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Potential impact on net income attributed to shareholders arising from changes to spreads	(2,800)	(2,500)
-10% [Member] | Alternative Long-Duration Asset Performance Risk [Member] | Real estate, agriculture and timber assets [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Potential impact on net income attributed to shareholders arising from changes to spreads	(1,300)	(1,300)
-10% [Member] | Alternative Long-Duration Asset Performance Risk [Member] | Private equities and other ALDA [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Potential impact on net income attributed to shareholders arising from changes to spreads	(1,500)	(1,200)
10% [Member] | Alternative Long-Duration Asset Performance Risk [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Potential impact on net income attributed to shareholders arising from changes to spreads	2,700	2,400
10% [Member] | Alternative Long-Duration Asset Performance Risk [Member] | Real estate, agriculture and timber assets [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Potential impact on net income attributed to shareholders arising from changes to spreads	1,300	1,200
10% [Member] | Alternative Long-Duration Asset Performance Risk [Member] | Private equities and other ALDA [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Potential impact on net income attributed to shareholders arising from changes to spreads	CAD 1,400	CAD 1,200

IFRS 7 Disclosures - Summary186

IFRS 7 Disclosures - Summary of Potential Impact on Net Income Attributed to Shareholders Arising from Changes to Spreads (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Corporate spreads [Member]
Disclosure of Interest Rate and Spread Risk Sensitivities and Exposure Measures [Line Items]
Spreads period assumed to grade to long-term average	5 years	5 years

IFRS 7 Disclosures - Summary187

IFRS 7 Disclosures - Summary of Potential Impact on Core Earnings (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
10% change in the Canadian dollar relative to the U.S. dollar and the Hong Kong dollar [Member] | 10% [Member]
Disclosure of foreign exchange risk [line items]
Potential impact on core earnings	CAD (280)	CAD (230)
10% change in the Canadian dollar relative to the U.S. dollar and the Hong Kong dollar [Member] | -10% [Member]
Disclosure of foreign exchange risk [line items]
Potential impact on core earnings	280	230
10% change in the Canadian dollar relative to the Japanese yen [Member] | 10% [Member]
Disclosure of foreign exchange risk [line items]
Potential impact on core earnings	(60)	(50)
10% change in the Canadian dollar relative to the Japanese yen [Member] | -10% [Member]
Disclosure of foreign exchange risk [line items]
Potential impact on core earnings	CAD 60	CAD 50

IFRS 7 Disclosures - Schedul188

IFRS 7 Disclosures - Schedule of Maturity of Financial Liabilities (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items]
Long-term debt	CAD 4,785	CAD 5,696
Capital instruments	8,387	7,180
Derivatives	7,822	14,151
Deposits from bank clients	18,131	17,919
Lease obligations	838	966
Less than 1 year [Member]
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items]
Long-term debt	401	7
Derivatives	224	593
Deposits from bank clients	15,322
Lease obligations	126
1 to 3 years [Member]
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items]
Long-term debt	626
Derivatives	149	595
Deposits from bank clients	1,373
Lease obligations	172
3 to 5 years [Member]
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items]
Derivatives	168	511
Deposits from bank clients	1,436
Lease obligations	89
Over 5 years [Member]
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items]
Long-term debt	3,758	4,021
Capital instruments	8,387
Derivatives	7,281	CAD 12,452
Lease obligations	CAD 451

IFRS 7 Disclosures - Schedul189

IFRS 7 Disclosures - Schedule of Maturity of Financial Liabilities (Parenthetical) (Detail) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items]
Carrying value of deposits from Bank clients	CAD 18,131	CAD 17,919
Level 2 [Member]
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items]
Fair value of deposits from Bank clients	CAD 18,149	CAD 17,978