Related Party Transactions

12 Months Ended

Dec. 31, 2022

24. Related Party Transactions

SLF Inc. and its subsidiaries, joint ventures and associates transact business worldwide. All transactions between SLF Inc. and its subsidiaries have been eliminated on consolidation. Transactions with joint ventures and associates, which are also related parties, are disclosed in Note 16. Transactions between the Company and related parties are executed and priced on an arm’s-length basis in a manner similar to transactions with third parties.

24.A Transactions with Key Management Personnel, Remuneration and Other Compensation

Key management personnel refers to the executive team and Board of Directors of SLF Inc. These individuals have the authority and responsibility for planning, directing, and controlling the activities of the Company. The aggregate compensation to the executive team and directors are as follows:


For the years ended December 31,		2022						2021
	Executive team			Directors			Executive team			Directors
Number of individuals		13			11			14			13
Base salary and annual incentive compensation		$	19		$	—		$	22		$	—
Additional short-term benefits and other		$	1		$	—		$	1		$	1
Share-based long-term incentive compensation		$	32		$	3		$	36		$	2
Value of pension and post-retirement benefits		$	2		$	—		$	6		$	—
Severance		$	—		$	—		$	6		$	—

24.B Other Related Party Transactions

We provide investment management services for our pension plans. The services are provided on substantially the same terms as for comparable transactions with third parties. We also hold units of investment funds managed by certain of our joint ventures. The carrying amount of our investment in these funds is included in Note 16.D.