Segmented Information (Tables)

12 Months Ended

Dec. 31, 2022


For the years ended	Canada		U.S.		Asset Management			Asia		Corporate			Consolidation adjustments			Total
December 31, 2022
Gross premiums:
Annuities	$	3,909	$	1		$	—	$	26		$	9		$	—	$	3,945
Life insurance	6,308		1,515			—		3,512			60			—		11,395
Health insurance	6,493		7,298			—		25			4			—		13,820
Total gross premiums	16,710		8,814			—		3,563			73			—		29,160
Less: Ceded premiums	1,589		505			—		189			14			—		2,297
Net investment income (loss)	(4,864)		(2,306)			28		(3,242)			(1,113)			(90)		(11,587)
Fee income	1,610		297			5,729		620			106			(316)		8,046
Total revenue	11,867		6,300			5,757		752			(948)			(406)		23,322
Less:
Total benefits and expenses	10,344		5,571			4,215		218			(543)			(406)		19,399
Income tax expense (benefit)	363		143			345		63			(293)			—		621
Total net income (loss)	$	1,160	$	586		$	1,197	$	471		$	(112)		$	—	$	3,302
Less:
Net income (loss) attributable to participating policyholders	160		—			—		(44)			—			—		116
Net income (loss) attributable to non-controlling interests	—		—			56		—			—			—		56
Shareholders’ net income (loss)	$	1,000	$	586		$	1,141	$	515		$	(112)		$	—	$	3,130
December 31, 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

Assets and liabilities by segment are as follows:


	Canada			U.S.		Asset Management			Asia		Corporate			Consolidation adjustments			Total
As at December 31, 2022
Total general fund assets		$	110,888	$	37,282		$	11,702	$	37,072		$	9,044		$	(374)	$	205,614
Investments for account of segregated fund holders		$	109,058	$	421		$	—	$	7,111		$	8,702		$	—	$	125,292
Total general fund liabilities		$	100,396	$	30,190		$	9,474	$	29,662		$	6,889		$	(374)	$	176,237
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

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,	2022		2021		2022		2021
Revenue:
United States	$	5,173	$	5,299	$	61	$	112
United Kingdom	288		289		(1,014)		74
Canada	251		233		9		75
Other countries	45		34		(4)		(3)
Total revenue	$	5,757	$	5,855	$	(948)	$	258

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


	Asset Management				Corporate
As at December 31,	2022		2021		2022		2021
Total general fund assets:
United States	$	9,933	$	8,203	$	1,536	$	2,570
United Kingdom	940		1,064		4,827		6,892
Canada	581		582		2,500		4,533
Other countries	248		175		181		192
Total general fund assets	$	11,702	$	10,024	$	9,044	$	14,187
Investment for account of segregated fund holders:
United Kingdom	$	—	$	—	$	8,702	$	10,722
Total investment for account of segregated fund holders	$	—	$	—	$	8,702	$	10,722