Reinsurance Assets And Policy Holder Liabilities Under Insurance And Investment Contracts

3 Months Ended

Sep. 30, 2015

Reinsurance Assets And Policy Holder Liabilities Under Insurance And Investment Contracts [Abstract]

Reinsurance Assets And Policy Holder Liabilities Under Insurance And Investment Contracts

7. Reinsurance assets and policy holder liabilities under insurance and investment contracts

     Reinsurance assets and policy holder liabilities under insurance contracts

     Summarized below is the movement in reinsurance assets and policy holder liabilities under insurance contracts during the three months ended September 30, 2015:

		Reinsurance			Insurance
		assets (1)			contracts (2)
Balance as of June 30, 2015	$	183		$	(567	)
Foreign currency adjustment (3)		(23	)		71
Balance as of September 30, 2015	$	160		$	(496	)

     (1) Included in other long-term assets.

     (2) Included in other long-term liabilities.

     (3) The foreign currency adjustment represents the effects of the fluctuations between the ZAR against the U.S. dollar.

     The Company has agreements with reinsurance companies in order to limit its losses from large insurance contracts, however, if the reinsurer is unable to meet its obligations, the Company retains the liability.

     Policyholders' liabilities under insurance contracts are derived from actual claims submitted which had not been settled as of September 30, 2015 and June 30, 2015, respectively, and represents management's estimate of the net present value of future claims and benefits under existing insurance contracts, offset by probable future premiums to be received (net of expected service cost).

     Assets and policy holder liabilities under investment contracts

     Summarized below is the movement in assets and policy holder liabilities under investment contracts during the three months ended September 30, 2015:

					Investment
		Assets (1)			contracts (2)
Balance as of June 30, 2015	$	593		$	(593	)
Foreign currency adjustment (3)		(73	)		73
Balance as of September 30, 2015	$	520		$	(520	)

     (1) Included in other long-term assets.

     (2) Included in other long-term liabilities.

     (3) The foreign currency adjustment represents the effects of the fluctuations between the ZAR against the U.S. dollar.

     The Company does not offer any investment products with guarantees related to capital or returns.