Derivatives (Tables)

12 Months Ended

Dec. 31, 2019

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Summary of Derivative Asset and Liability

		Derivative asset				Derivative liability
	2019		2018		2019		2018
Derivatives for general account
Derivatives not designated in a hedge		10,134		6,904		11,060		6,879
Derivatives designated as fair value hedges		21		30		26		29
Derivatives designated as cash flow hedges		390		289		320		151
Derivatives designated as Net foreign investment hedges		112		115		96		114
		10,658		7,337		11,501		7,174
Derivatives for account of policyholders
Derivatives not designated in a hedge		499		278		114		56
Total derivatives 1)		11,157		7,615		11,616		7,230

1  Refer to note 44 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	2019		2018		2019		2018
Derivatives held as an economic hedge		10,118		6,808		7,854		4,278
Bifurcated embedded derivatives		16		5		3,197		2,588
Other		-		91		9		12
Total		10,134		6,904		11,060		6,879

Credit Derivative Disclosure By Quality

	2019			2018
Credit derivative disclosure by quality		Notional	Fair value		Notional	Fair value
AAA		10	-		16	-
AA		106	3		97	1
A		915	13		764	10
BBB		3,258	70		3,201	45
BB		97	3		226	5
B or lower		58	-		54	(3	)
Total		4,444	89		4,358	57

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		2019 Total
Cash inflows		597		928		875		5,764		8,165
Cash outflows		-		1		3		-		4
Net cash flows		597		927		872		5,764		8,160
	< 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