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FUTURE POLICY BENEFITS, POLICY AND CONTRACT CLAIMS AND POLICYHOLDERS' ACCOUNT BALANCES (Tables)
 6 Months Ended
Jun. 30, 2022
Insurance Reserve [Abstract]  
Disclosure of insurance reserves
The Company’s future policy benefits and policy, contract claims and policyholders account balances are as follows:
AS AT JUN. 30, 2022 AND DEC. 31, 2021
US$ MILLIONS		20222021
Gross$30,086 $8,497 
Reinsurance assets(576)(169)
Total insurance reserves$29,510 $8,328 
Disclosure of movement in insurance reserves
The following table summarizes the movement between insurance reserves for the periods ended June 30, 2022 and June 30, 2021 by its major components:
Future Policy Benefits
FOR THE THREE MONTHS ENDED JUN. 30 2022
US$ MILLIONS		LifeAnnuitiesHealthGross reservesReinsurance assetsNet
Beginning of period$— $8,512 $— $8,512 $148 $8,364 
Changes during the period
Acquisition from business combination3,459 1,627 46 5,132 7 5,125 
New business1 1,228 — 1,229 — 1,229 
Normal changes(236)(169)— (405)95 (500)
Management actions and changes in assumptions— 16 — 16 — 16 
3,224 2,702 46 5,972 102 5,870 
Impact of foreign exchange1
— (74)— (74)(4)(70)
Balance at end of period$3,224 $11,140 $46 $14,410 $246 $14,164 
Future Policy Benefits
FOR THE SIX MONTHS ENDED JUN. 30 2022
US$ MILLIONS		LifeAnnuitiesHealthGross reservesReinsurance assetsNet
Beginning of period$— $8,497 $— $8,497 $169 $8,328 
Changes during the period
Acquisition from business combination3,459 1,627 46 5,132 7 5,125 
New business1 1,535 — 1,536 — 1,536 
Normal changes(236)(520)— (756)73 (829)
Management actions and changes in assumptions— 53 — 53 — 53 
3,224 2,695 46 5,965 80 5,885 
Impact of foreign exchange1
— (52)— (52)(3)(49)
Balance at end of period$3,224 $11,140 $46 $14,410 $246 $14,164 
Future Policy Benefits
FOR THE THREE MONTHS ENDED JUN. 30 2021
US$ MILLIONS		LifeAnnuitiesHealthGross reservesReinsurance assetsNet
Beginning of period$— $1,264 $— $1,264 $178 $1,086 
Changes during the period
New business— 52 — 52 — 52 
Normal changes— 6 — 6 (4)10 
Management actions and changes in assumptions— 1 — 1 (1)2 
— 59 — 59 (5)64 
Impact of foreign exchange1
— 16 — 16 3 13 
Balance at end of period$— $1,339 $— $1,339 $176 $1,163 
Future Policy Benefits
FOR THE SIX MONTHS ENDED JUN. 30 2021
US$ MILLIONS		LifeAnnuitiesHealthGross reservesReinsurance assetsNet
Beginning of period$— $1,339 $— $1,339 $190 $1,149 
Changes during the period
New business— 55 — 55 — 55 
Normal changes— (94)— (94)(18)(76)
Management actions and changes in assumptions— 5 — 5 (2)7 
— (34)— (34)(20)(14)
Impact of foreign exchange1
— 34 — 34 6 28 
Balance at end of period$— $1,339 $— $1,339 $176 $1,163 
Policy and contract claims
FOR THE THREE AND SIX MONTHS ENDED JUN. 30 2022
US$ MILLIONS		Gross reservesReinsurance assetsNet
Beginning of period$— $— $— 
Changes during the period
Acquisition from business combination1,706 116 1,590 
New business— — — 
Normal changes12 211 (199)
Management actions and changes in assumptions16 3 13 
1,734 330 1,404 
Balance at end of period$1,734 $330 $1,404 
1.Foreign currency translation reported as a separate component of other comprehensive income.
Schedule of Movement In Policyholders’ Account Balances
The following table presents movement in Policyholders’ account balances:
Three Months EndedSix Months Ended
FOR THE THREE AND SIX MONTHS ENDED JUN. 30 2022
US$ MILLIONS		2022202120222021
Beginning of period$— $— $— $— 
Changes during the period
Acquisition from business combination13,939 — 13,939 — 
Policyholders' account deposits141 — 141 — 
Interest credited to policyholders' account balances5 — 5 — 
Policyholders' account withdrawals(112)— (112)— 
Charges to policyholders' account balances(31)— (31)— 
Balance at end of period$13,942 $— $13,942 $—