REORGANIZATION AND RELATED EXPENSES

12 Months Ended

Dec. 31, 2016

Restructuring and Related Activities [Abstract]

REORGANIZATION AND RELATED EXPENSES

During 2015, the Company implemented a number of profitability enhancement initiatives which resulted in the recognition of reorganization and related expenses including staff severance and related costs, the write-off of certain information technology assets, lease cancellation costs and an impairment of certain customer-based intangibles following the decision to wind down the Company's Australian retail insurance operations. Reorganization and related expenses amounted to $nil and $46 million for the years ended December 31, 2016 and 2015, respectively. In addition, we incurred corporate expenses of $nil and $5 million associated with these profitability enhancement initiatives for the years ended December 31, 2016 and 2015, respectively. Refer Note 4 'Goodwill and Intangible Assets' for additional information on the intangible impairment charge and refer to Note 23 'Subsequent Events' for an update on the regulatory process related to the wind down of the Company's Australian retail insurance operations.