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GOODWILL | 6 Months Ended
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Jun. 30, 2022
Disclosure of reconciliation of changes in goodwill [abstract] |
Goodwill | GOODWILL Goodwill is the excess of cost over the estimated fair value of net assets acquired. As at June 30, 2022, the Company had $176 million in goodwill which was related to the Direct Insurance segment. There is no accumulated impairment balance associated with goodwill. The Company performs a goodwill impairment analysis annually as of December 31, and more frequently if facts and circumstances indicate that goodwill may be impaired. The reconciliation of the carrying value of goodwill is in the following table:
AS AT AND FOR THE SIX MONTHS ENDED JUN. 30 US$ MILLIONS |  |  |  |  |  |  | 2022 |  | 2021
Cost |  |  |  |  |  |  |  |  |
Balance, beginning of period |  |  |  |  |  |  | $ | — |  |  | $ | — |
Acquisition from business combination |  |  |  |  |  |  | 176 |  |  | — |
Impairment |  |  |  |  |  |  | — |  |  | — |
Balance, end of period |  |  |  |  |  |  | $ | 176 |  |  | $ | — |

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- Definition The disclosure of goodwill. [Refer: Goodwill] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
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- References No definition available. + Details
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