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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2020
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Summary of Condensed Consolidated Statements of Income Information for MFC and MFLP
Condensed Consolidated Statements of Income Information
 
For the year ended December 31, 2020
 MFC
(Guarantor)		  MLI
consolidated		  Other
subsidiaries of
MFC on a
combined basis		  Consolidation
adjustments		  Total
consolidated
amounts		     MFLP 
Total revenue
 
$
547
 
 
$
78,929
 
 
$
520
 
 
$
(1,088
) 
 
$
78,908
 
     
$
32
 
Net income (loss) attributed to shareholders
 
 
5,871
 
 
 
6,179
 
 
 
(500
) 
 
 
(5,679
) 
 
 
5,871
 
     
 
(1
) 
        
For the year ended December 31, 2019 MFC
(Guarantor)		  MLI
consolidated		  Other
subsidiaries of
MFC on a
combined basis		  Consolidation
adjustments		  Total
consolidated
amounts		     MFLP 
Total revenue
 $371  $79,711  $      417  $(929)  $79,570      $      32 
Net income (loss) attributed to shareholders
  5,602   5,963   (401)   (5,562)   5,602       (1) 
Summary of Condensed Consolidated Statements of Financial Position for MFC and MFLP
Condensed Consolidated Statements of Financial Position
 
As at December 31, 2020
 MFC
(Guarantor)		  MLI
consolidated		  Other
subsidiaries
of MFC on a
combined
basis		  Consolidation
adjustments		  Total
consolidated
amounts		     MFLP 
Invested assets
 
$
47
 
 
$
410,919
 
 
$
11
 
 
$
–
 
 
$
410,977
 
     
$
         5
 
Total other assets
 
 
64,419
 
 
 
102,439
 
 
 
3
 
 
 
(64,925
) 
 
 
101,936
 
     
 
  1,166
 
Segregated funds net assets
 
 
–
 
 
 
367,436
 
 
 
–
 
 
 
–
 
 
 
367,436
 
     
 
–
 
Insurance contract liabilities
 
 
–
 
 
 
385,554
 
 
 
–
 
 
 
–
 
 
 
385,554
 
     
 
–
 
Investment contract liabilities
 
 
–
 
 
 
3,288
 
 
 
–
 
 
 
–
 
 
 
3,288
 
     
 
–
 
Segregated funds net liabilities
 
 
–
 
 
 
367,436
 
 
 
–
 
 
 
–
 
 
 
367,436
 
     
 
–
 
Total other liabilities
 
 
12,131
 
 
 
59,683
 
 
 
–
 
 
 
(749
) 
 
 
71,065
 
     
 
936
 
        
As at December 31, 2019 MFC
(Guarantor)		  MLI
consolidated		  Other
subsidiaries
of MFC on a
combined
basis		  Consolidation
adjustments		  Total
consolidated
amounts		     MFLP 
Invested assets
 $21  $  378,496  $  10  $–  $  378,527      $6 
Total other assets
    57,474   87,774   3     (57,756)   87,495       1,088 
Segregated funds net assets
  –   343,108   –   –   343,108       – 
Insurance contract liabilities
  –   351,161   –   –   351,161       – 
Investment contract liabilities
  –   3,104   –   –   3,104       – 
Segregated funds net liabilities
  –   343,108   –   –   343,108       – 
Total other liabilities
  8,357   53,998   –   (704)   61,651       858 
Schedule of Pledged Assets
The amounts pledged are as follows.
 
  
2020
     2019 
As at December 31,
 Debt securities   Other     Debt securities   Other 
In respect of:
                      
Derivatives
 
$
   5,924
 
  
$
  35
 
     $  4,257   $17 
Secured borrowings
(1)
 
 
–
 
  
 
2,790
 
      –    – 
Regulatory requirements
 
 
452
 
  
 
80
 
      433    67 
Repurchase agreements
 
 
353
 
  
 
–
 
      330    – 
Non-registered
retirement plans in trust
 
 
–
 
  
 
424
 
      –    407 
Other
 
 
2
 
  
 
302
 
      3    331 
Total
 
$
6,731
 
  
$
3,631
 
     $5,023   $  822 
(1)
 
During the year, the Company pledged its mortgage loans with the Federal Home Loan Bank of Indianapolis (“FHLBI”). Of this amount, $937 is required collateral for the US$500 outstanding borrowing to JHUSA under the FHLBI facility; and $1,853 is excess collateral that can be called back by JHUSA at any time.