MANULIFE FINANCIAL CORP (MFC) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18
	Source	Source	Source	Source
Revenue
Premium income
Gross premiums
Premiums ceded to reinsurers	-5,279	-8,491	-5,481	-15,138

Net premiums
Investment income (note 3)
Investment income
Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities and on the macro hedge program	-4,003	18,967	18,200	-9,028
Net investment income	11,624	35,400	33,593	4,532

Other revenue (note 13)
Total revenue
Contract benefits and expenses
Gross claims and benefits (note 6)	31,110	30,133	28,660	27,878
Increase (decrease) in insurance contract liabilities (note 6)	10,719	36,982	33,727	2,907
Increase (decrease) in investment contract liabilities (note 7)	44	178	170	35
Benefits and expenses ceded to reinsurers	-6,805	-6,795	-5,373	-5,153

(Increase) decrease in reinsurance assets (note 6)
Net benefits and claims
General expenses
Investment expenses (note 3)	1,980	1,787	1,748	1,708

Commissions
Interest expense
Net premium taxes	417	381	389	406
Total contract benefits and expenses	53,696	72,137	73,350	33,453

Income before income taxes
Income tax expense (note 16)
Net income
Net income (loss) attributed to:
Non-controlling interests
Participating policyholders	-448	-545	-333	-127

Shareholders and other equity holders
Net income
Shareholders and other equity holders
Preferred share dividends and other equity distributions	-215	-171
Common shareholders' net income	6,890	5,700	5,430	4,632

Earnings per share
Basic earnings per common share (note 11)
Diluted earnings per common share (note 11)
Dividends per common share