Segmented Information (Tables)

12 Months Ended

Dec. 31, 2021

Results by segment for the years ended December 31, 2021 and December 31, 2020 are as follows:


	Canada		U.S.		Asset Management			Asia		Corporate			Consolidation adjustments			Total
2021
Gross premiums:
Annuities	$	3,874	$	—		$	—	$	29		$	14		$	—	$	3,917
Life insurance	5,848		1,452			—		3,542			83			—		10,925
Health insurance	5,989		4,624			—		24			27			—		10,664
Total gross premiums	15,711		6,076			—		3,595			124			—		25,506
Less: Ceded premiums	1,533		705			—		201			14			—		2,453
Net investment income (loss)	3,069		546			20		1,060			37			(99)		4,633
Fee income	1,611		81			5,835		642			111			(278)		8,002
Total revenue	18,858		5,998			5,855		5,096			258			(377)		35,688
Less:
Total benefits and expenses	16,651		5,375			4,591		3,838			513			(377)		30,591
Income tax expense (benefit)	384		124			372		113			(266)			—		727
Total net income (loss)	$	1,823	$	499		$	892	$	1,145		$	11		$	—	$	4,370
Less:
Net income (loss) attributable to participating policyholders	265		—			—		70			—			—		335

Shareholders’ net income (loss)	$	1,558	$	499		$	892	$	1,075		$	11		$	—	$	4,035
2020
Gross premiums:
Annuities	$	3,594	$	—		$	—	$	108		$	27		$	—	$	3,729
Life insurance	5,358		1,548			—		4,821			85			—		11,812
Health insurance	6,011		4,583			—		33			22			—		10,649
Total gross premiums	14,963		6,131			—		4,962			134			—		26,190
Less: Ceded premiums	1,530		695			—		212			15			—		2,452
Net investment income (loss)	6,823		2,610			23		2,550			758			(46)		12,718
Fee income	1,376		92			5,014		572			103			(276)		6,881
Total revenue	21,632		8,138			5,037		7,872			980			(322)		43,337
Less:
Total benefits and expenses	20,669		7,825			3,712		7,137			1,029			(322)		40,050
Income tax expense (benefit)	50		56			334		54			1			—		495
Total net income (loss)	$	913	$	257		$	991	$	681		$	(50)		$	—	$	2,792
Less:
Net income (loss) attributable to participating policyholders	196		—			—		87			—			—		283
Net income (loss) attributable to non-controlling interests	—		—			11		—			—			—		11
Shareholders’ net income (loss)	$	717	$	257		$	980	$	594		$	(50)		$	—	$	2,498

Assets and liabilities by segment are as follows:


	Canada			U.S.		Asset Management			Asia		Corporate			Consolidation adjustments			Total
As at December 31, 2021
Total general fund assets		$	110,499	$	33,391		$	10,024	$	37,661		$	14,187		$	(388)	$	205,374
Investments for account of segregated fund holders		$	121,146	$	519		$	—	$	7,609		$	10,722		$	—	$	139,996
Total general fund liabilities		$	100,838	$	29,553		$	8,010	$	30,884		$	8,404		$	(388)	$	177,301
As at December 31, 2020
Total general fund assets		$	106,318	$	33,790		$	6,957	$	36,414		$	13,897		$	(286)	$	197,090
Investments for account of segregated fund holders		$	107,494	$	541		$	—	$	7,211		$	10,675		$	—	$	125,921
Total general fund liabilities		$	97,728	$	30,354		$	4,898	$	30,004		$	8,530		$	(286)	$	171,228

Disclosure of geographical areas

The following table shows revenue by country for Asset Management and Corporate:


	Asset Management				Corporate
For the years ended December 31,	2021		2020		2021		2020
Revenue:
United States	$	5,299	$	4,505	$	112	$	169
United Kingdom	289		174		74		725
Canada	233		311		75		79
Other countries	34		47		(3)		7
Total revenue	$	5,855	$	5,037	$	258	$	980

The following table shows total assets by country for Asset Management and Corporate:


	Asset Management				Corporate
As at December 31,	2021		2020		2021		2020
Total general fund assets:
United States	$	8,203	$	5,124	$	2,570	$	2,227
United Kingdom	1,064		1,037		6,892		7,766
Canada	582		580		4,533		3,716
Other countries	175		216		192		188
Total general fund assets	$	10,024	$	6,957	$	14,187	$	13,897
Investment for account of segregated fund holders:
United Kingdom	$	—	$	—	$	10,722	$	10,675
Total investment for account of segregated fund holders	$	—	$	—	$	10,722	$	10,675