Reinsurance assets (Tables)

12 Months Ended

Dec. 31, 2019

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Summary of Assets Arising From Reinsurance Contracts

Assets arising from reinsurance contracts related to:	2019	2018
Life insurance general account	19,046	18,712
Life insurance for account of policyholders	-	2
Non-life insurance	1,376	1,356
Investment contracts	412	437
At December 31	20,835	20,507

Summary of Reinsurance Assets Relating to Life Insurance

Movements during the year in reinsurance assets relating to life insurance:	Life insurance general account			Life insurance for account of policyholders			Total life insurance
At January 1, 2019		18,712			2			18,714
Gross premium and deposits – existing and new business		2,170			-			2,170
Unwind of discount / interest credited		887			-			887
Insurance liabilities released		(3,028	)		-			(3,028	)
Fund charges released		(85	)		-			(85	)
Changes to valuation of expected future benefits		(16	)		-			(16	)
Net exchange differences		369			-			369
Disposal of a business		-			(2	)		(2	)
Transfer to/from insurance contracts		22			-			22
Other movements		16			-			16
At December 31, 2019		19,046			-			19,046
At January 1, 2018		17,419			2			17,421
Gross premium and deposits – existing and new business		2,038			3			2,041
Unwind of discount / interest credited		860			-			860
Insurance liabilities released		(2,518	)		(3	)		(2,521	)
Fund charges released		(82	)		-			(82	)
Changes to valuation of expected future benefits		109			-			109
Policy transfers		25			-			25
Net exchange differences		858			-			858
Other movements		2			-			2
At December 31, 2018		18,712			2			18,714

Summary of Reinsurance Assets Relating to Non-life Insurance

Movements during the year in reinsurance assets relating to non-life insurance:	2019			2018
At January 1		1,356			1,327
Gross premium and deposits – existing and new business		99			84
Unwind of discount / interest credited		88			84
Insurance liabilities released		(127	)		(123	)
Changes in unearned premiums		(30	)		(28	)
Incurred related to current year		80			77
Incurred related to prior years		56			36
Release for claims settled current year		(23	)		(18	)
Release for claims settled prior years		(124	)		(130	)
Change in IBNR		(19	)		12
Shadow accounting adjustment		-			(24	)
Net exchange differences		25			65
Other movements		(4	)		(8	)
At December 31		1,376			1,356

Assets Arising from Reinsurance Contracts

Assets arising from reinsurance contracts related to:	2019		2018
Normal course of business		7,101		6,900
Exit of a business		13,734		13,606
At December 31		20,835		20,507