Derivatives (Tables)

12 Months Ended

Dec. 31, 2018

Text block [abstract]

Summary of Derivative Asset and Liability

	Derivative asset				Derivative liability
	2018		2017		2018		2017
Derivatives for general account
Derivatives not designated in a hedge		6,904		5,081		6,879		6,716
Derivatives designated as fair value hedges		30		32		29		48
Derivatives designated as cash flow hedges		289		393		151		233
Derivatives designated as Net foreign investment hedges		115		57		114		57
		7,337		5,563		7,174		7,053
Derivatives for account of policyholders
Derivatives not designated in a hedge		278		349		56		76
		278		349		56		76
Total derivatives 1		7,615		5,912		7,230		7,130

¹  Refer to note 47 Fair value for a summary of all financial assets and financial liabilities at fair value through profit or loss.

Derivatives Not Designated In Hedge - General Account

	Derivative asset				Derivative liability
Derivatives not designated in a hedge – general account	2018		2017		2018		2017
Derivatives held as an economic hedge		6,808		4,933		4,278		4,774
Bifurcated embedded derivatives		5		13		2,588		1,937
Other		91		134		12		5
Total		6,904		5,081		6,879		6,716

Credit Default Swaps Positions Outstanding at End of Year

	2018					2017
		Notional		Fair value			Notional		Fair value
CDSs			4,358		57			3,606		92

Credit Derivative Disclosure By Quality

2018					2017
Credit derivative disclosure by quality	Notional		Fair value			Notional		Fair value
AAA		16		-			4		-
AA		97		1			83		2
A		764		10			750		15
BBB		3,201		45			2,392		68
BB		226		5			357		8
B or lower		54		(3	)		21		-
Total		4,358		57			3,606		92

Summary of Cash Flows are Expected to Occur

The periods when the cash flows are expected to occur are as follows:

	< 1 year		1 – 5 years		5 –10 years		> 10 years		2018 Total
Cash inflows		95		321		301		5,582		6,299
Cash outflows		-		1		3		-		5
Net cash flows		95		320		297		5,582		6,294
	< 1 year		1 – 5 years		5 – 10 years		> 10 years		2017 Total
Cash inflows		78		315		312		5,648		6,352
Cash outflows		-		1		4		-		5
Net cash flows		78		314		309		5,648		6,348