10 Results from financial transactions
Results from financial transactions comprise:	2018			2017			2016
Net fair value change of general account financial investments at fair value through profit or loss, other than derivatives		(79	)		232			(42	)
Realized gains and (losses) on financial investments		(92	)		431			327
Gains and (losses) on investments in real estate		261			193			70
Net fair value change of derivatives		(545	)		(1,159	)		239
Net fair value change on account of policyholder financial assets at fair value through profit or loss		(11,326	)		20,524			15,121
Net fair value change on investments in real estate for account of policyholders		5			38			(26	)
Net foreign currency gains and (losses)		44			(20	)		41
Net fair value change on borrowings and other financial liabilities		29			10			21
Realized gains and (losses) on repurchased debt		1			1			1
Total		(11,701	)		20,250			15,753


Net fair value change of general account financial investments at fair value through profit or loss, other than derivatives comprise:	2018			2017			2016
Shares		69			25			4
Debt securities and money market investments		(143	)		127			8
Other		(5	)		80			(54	)
Total		(79	)		232			(42	)

Other mainly includes net fair value changes of alternative investments.


Realized gains and losses on financial investments comprise:	2018			2017			2016
Shares		25			165			46
Debt securities and money market investments		(147	)		242			211
Loans		16			20			16
Other		14			3			54
Total		(92	)		431			327


Realized gains and losses on financial investments comprise:	2018			2017			2016
Available-for-sale investments		(108	)		411			311
Loans		16			20			16
Total		(92	)		431			327


Net fair value change of derivatives comprise:	2018			2017			2016
Net fair value change on economic hedges where no hedge accounting is applied		272			70			793
Net fair value change on bifurcated embedded derivatives		(824	)		(1,231	)		(565	)
Ineffective portion of hedge transactions to which hedge accounting is applied		7			2			12
Total		(545	)		(1,159	)		239


The ineffective portion of hedge transactions to which hedge accounting is applied comprises:	2018			2017			2016
Fair value change on hedging instruments in a fair value hedge		13			(12	)		(29	)
Fair value change on hedged items in a fair value hedge		(8	)		15			35

Ineffectiveness fair value hedge		5			3			7
Ineffectiveness cash flow hedges		2			-			5
Total		7			2			12


Net fair value change on for account of policyholder financial assets at fair value through profit or loss comprise:	2018			2017			2016
Shares		(2,318	)		2,372			2,462
Debt securities and money market investments		(421	)		166			1,682
Unconsolidated investment funds		(8,158	)		17,720			10,496
Derivatives		(153	)		94			252
Other		(276	)		171			230
Total		(11,326	)		20,524			15,121

Net fair value change on for account of policyholder financial assets at fair value through profit or loss decreased in 2018 compared to 2017, mainly from unfavorable credit and equity markets. Net fair value changes on for account of policyholder financial assets at fair value through profit or loss are offset by changes in technical provisions reported as part of the lines Change in valuation of liabilities for insurance contracts and Change in valuation of liabilities for investment contracts in note 12 Policyholder claims and benefits.
Net fair value change on borrowings and other financial liabilities	2018			2017			2016
Borrowings		23			10			21
Other financial liabilities		6			-			-
Total		29			10			21