XML 74 R44.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Insurance Contract Liabilities and Investment Contract Liabilities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Insurance Contracts [Abstract] |
Disclosure of insurance contract liabilities | The following tables show the total assets supporting total liabilities for the product lines shown (including insurance contract and investment contract liabilities) and assets supporting equity and other:
As at December 31, 2018 |  | Debt securities |  | Equity securities |  | Mortgages and loans |  | Investment properties |  |  | Other |  |  | Total |
Individual participating life |  |  | $ | 19,624 |  |  | $ | 2,557 |  |  | $ | 7,978 |  |  | $ | 4,736 |  |  | $ | 4,397 |  |  | $ | 39,292 |
Individual non-participating life and health |  |  | 18,720 |  |  | 1,303 |  |  | 14,398 |  |  | 1,638 |  |  | 9,058 |  |  | 45,117 |
Group life and health |  |  | 6,271 |  |  | 70 |  |  | 9,217 |  |  | — |  |  | 2,882 |  |  | 18,440 |
Individual annuities |  |  | 11,918 |  |  | 49 |  |  | 5,769 |  |  | — |  |  | 959 |  |  | 18,695 |
Group annuities |  |  | 6,448 |  |  | 35 |  |  | 6,298 |  |  | — |  |  | 822 |  |  | 13,603 |
Equity and other |  |  | 11,462 |  |  | 620 |  |  | 3,162 |  |  | 783 |  |  | 17,591 |  |  | 33,618 |
Total assets |  |  | $ | 74,443 |  |  | $ | 4,634 |  |  | $ | 46,822 |  |  | $ | 7,157 |  |  | $ | 35,709 |  |  | $ | 168,765 |
As at December 31, 2017 |  | Debt securities |  | Equity securities |  | Mortgages and loans |  | Investment properties |  |  | Other |  |  | Total |
Individual participating life |  |  | $ | 18,855 |  |  | $ | 3,190 |  |  | $ | 7,458 |  |  | $ | 4,645 |  |  | $ | 4,508 |  |  | $ | 38,656 |
Individual non-participating life and health |  |  | 18,560 |  |  | 1,720 |  |  | 12,360 |  |  | 1,348 |  |  | 8,702 |  |  | 42,690 |
Group life and health |  |  | 6,003 |  |  | 73 |  |  | 8,799 |  |  | — |  |  | 2,667 |  |  | 17,542 |
Individual annuities |  |  | 12,001 |  |  | 50 |  |  | 5,506 |  |  | — |  |  | 1,303 |  |  | 18,860 |
Group annuities |  |  | 6,076 |  |  | 45 |  |  | 5,840 |  |  | — |  |  | 538 |  |  | 12,499 |
Equity and other |  |  | 11,124 |  |  | 942 |  |  | 2,842 |  |  | 1,074 |  |  | 16,491 |  |  | 32,473 |
Total assets |  |  | $ | 72,619 |  |  | $ | 6,020 |  |  | $ | 42,805 |  |  | $ | 7,067 |  |  | $ | 34,209 |  |  | $ | 162,720 |
Changes in Insurance contract liabilities and Reinsurance assets are as follows:
For the years ended December 31, |  | 2018 |  | 2017
| Insurance contract liabilities |  | Reinsurance assets |  |  | Net |  | Insurance contract liabilities |  | Reinsurance assets |  |  | Net |
Balances, before Other policy liabilities and assets as at January 1, | $ | 111,091 |  |  | $ | 3,503 |  |  | $ | 107,588 |  |  | $ | 108,411 |  |  | $ | 4,541 |  |  | $ | 103,870 |
Change in balances on in-force policies |  | (3,094 | ) |  | (129 | ) |  | (2,965 | ) |  | 2,757 |  |  | (779 | ) |  | 3,536 |
Balances arising from new policies |  | 3,780 |  |  | 128 |  |  | 3,652 |  |  | 2,941 |  |  | 156 |  |  | 2,785 |
Method and assumption changes |  | (374 | ) |  | (96 | ) |  | (278 | ) |  | (371 | ) |  | (198 | ) |  | (173 | )
Increase (decrease) in Insurance contract liabilities and Reinsurance assets |  | 312 |  |  | (97 | ) |  | 409 |  |  | 5,327 |  |  | (821 | ) |  | 6,148 |
Foreign exchange rate movements |  | 3,499 |  |  | 247 |  |  | 3,252 |  |  | (2,647 | ) |  | (217 | ) |  | (2,430 | )
Balances before Other policy liabilities and assets |  | 114,902 |  |  | 3,653 |  |  | 111,249 |  |  | 111,091 |  |  | 3,503 |  |  | 107,588 |
Other policy liabilities and assets |  | 7,021 |  |  | 488 |  |  | 6,533 |  |  | 6,694 |  |  | 525 |  |  | 6,169 |
Total Insurance contract liabilities and Reinsurance assets, December 31 |  | $ | 121,923 |  |  | $ | 4,141 |  |  | $ | 117,782 |  |  | $ | 117,785 |  |  | $ | 4,028 |  |  | $ | 113,757 |
Insurance contract liabilities consist of the following:
As at December 31, 2018 |  | SLF Canada |  | SLF U.S. |  |  | SLF Asia |  | Corporate(1) |  |  | Total |
Individual participating life |  | $ | 21,095 |  |  | $ | 5,785 |  |  | $ | 6,651 |  |  | $ | 1,076 |  |  | $ | 34,607 |
Individual non-participating life and health | 11,435 |  |  | 13,239 |  |  | 12,463 |  |  | 391 |  |  | 37,528 |
Group life and health |  |  | 9,591 |  |  | 5,674 |  |  | 32 |  |  | — |  |  | 15,297 |
Individual annuities |  |  | 9,267 |  |  | 25 |  |  | (44 | ) |  | 5,608 |  |  | 14,856 |
Group annuities |  |  | 12,461 |  |  | 6 |  |  | 147 |  |  | — |  |  | 12,614 |
Insurance contract liabilities before other policy liabilities |  | 63,849 |  |  | 24,729 |  |  | 19,249 |  |  | 7,075 |  |  | 114,902 |
Add: Other policy liabilities(2) |  | 3,049 |  |  | 1,457 |  |  | 2,276 |  |  | 239 |  |  | 7,021 |
Total insurance contract liabilities |  | $ | 66,898 |  |  | $ | 26,186 |  |  | $ | 21,525 |  |  | $ | 7,314 |  |  | $ | 121,923 |
(1) Primarily business from the U.K. and run-off reinsurance operations. Includes U.K. business of $980 for Individual participating life, $240 for Individual non-participating life and health, $5,214 for Individual annuities, and $170 for Other policy liabilities. (2) Consists of amounts on deposit, policy benefits payable, provisions for unreported claims, provisions for policyholder dividends, and provisions for experience rating refunds.
As at December 31, 2017 |  | SLF Canada |  |  | SLF U.S.(1) |  |  | SLF Asia(1) |  | Corporate(2) |  |  | Total |
Individual participating life |  |  | $ | 20,918 |  |  | $ | 5,582 |  |  | $ | 6,705 |  |  | $ | 1,186 |  |  | $ | 34,391 |
Individual non-participating life and health | 11,161 |  |  | 12,024 |  |  | 11,449 |  |  | 394 |  |  | 35,028 |
Group life and health |  |  | 9,131 |  |  | 5,427 |  |  | 33 |  |  | 11 |  |  | 14,602 |
Individual annuities |  |  | 9,178 |  |  | 25 |  |  | (68 | ) |  | 6,215 |  |  | 15,350 |
Group annuities |  |  | 11,607 |  |  | 7 |  |  | 106 |  |  | — |  |  | 11,720 |
Insurance contract liabilities before other policy liabilities |  | 61,995 |  |  | 23,065 |  |  | 18,225 |  |  | 7,806 |  |  | 111,091 |
Add: Other policy liabilities(3) |  | 3,088 |  |  | 1,345 |  |  | 2,032 |  |  | 229 |  |  | 6,694 |
Total insurance contract liabilities |  | $ | 65,083 |  |  | $ | 24,410 |  |  | $ | 20,257 |  |  | $ | 8,035 |  |  | $ | 117,785 |
(1) Balances in 2017 have been changed to conform with current year presentation as a result of the resegmentation described in Note 4.
(2) | Primarily business from the U.K. and run-off reinsurance operations. Includes U.K. business of $1,089 for Individual participating life, $250 for Individual non-participating life and health, $5,692 for Individual annuities, and $158 for Other policy liabilities.
(3) | Consists of amounts on deposit, policy benefits payable, provisions for unreported claims, provisions for policyholder dividends, and provisions for experience rating refunds.
Schedule of impacts of method and changes in assumptions on insurance contract liabilities | Impacts of method and assumption changes on Insurance contract liabilities net of Reinsurance assets are as follows:
For the year ended December 31, 2018 | Net increase (decrease) before income taxes | Description
Mortality / Morbidity |  | $ | (337 | ) |  | Updates to reflect mortality/morbidity experience in all jurisdictions. The largest items were favourable mortality in SLF Asia International, SLF Canada Group Retirement Services and SLF U.K.
Lapse and other policyholder behaviour |  | 563 |  |  | Updates to lapse and other policyholder behaviour in all jurisdictions. The largest items, which all had unfavourable impacts, were updated lapse assumptions in SLF U.S. and SLF Asia International.
Expenses |  | 6 |  |  | Updates to reflect expense experience in all jurisdictions including updates to SLF Canada participating life accounts.
Investment returns |  | (331 | ) |  | Updates to various investment-related assumptions across the Company including updates to SLF Canada participating life accounts.
Model enhancements and other |  | (179 | ) |  | Various enhancements and methodology changes across all jurisdictions. The largest items were a favourable change to the participating provisions for adverse deviation in SLF Canada and SLF U.S., partially offset by a change in reinsurance provisions in SLF U.S.
Total impact of method and assumption changes | $ | (278 | ) |  |
For the year ended December 31, 2017 | Net increase (decrease) before income taxes | Description
Mortality / Morbidity |  | $ | (286 | ) |  | Updates to reflect mortality/morbidity experience in all jurisdictions. The largest items were favourable mortality in SLF U.S. In-force Management and SLF Asia International insurance and favourable mortality improvement in SLF U.K.
Lapse and other policyholder behaviour |  | 149 |  |  | Updates to reflect lapse and other policyholder behaviour experience in all jurisdictions. The largest items were lower lapse rates on lapse supported business in SLF U.S. and updated lapse assumptions in SLF Canada's individual insurance business.
Expenses |  | 71 |  |  | Updates to reflect expense experience in all jurisdictions. The largest items were a refinement to the allocation of expenses in SLF Canada and increased expenses in the closed block of business in SLF Asia International wealth.
Investment returns |  | (62 | ) |  | Updates to various investment related assumptions across the Company. This included a reduction of the provision for investment risk in SLF Canada and other updated investment related assumptions, offset partially by updates to promulgated ultimate reinvestment rates.
Model enhancements and other |  | (45 | ) |  | Various enhancements and methodology changes across all jurisdictions. Includes the favourable impact on insurance contract liabilities from the resolution of tax uncertainties in a U.S. subsidiary and updates to the SLF Canada participating individual life business, partially offset by changes due to U.S. tax reform and updates to reflect reinsurance market conditions.
Total impact of method and assumption changes | $ | (173 | ) |  |
Schedule of investment contract liabilities | Investment contract liabilities consist of the following:
As at December 31, 2018 |  | SLF Canada |  |  | SLF Asia |  | Corporate |  |  | Total |
Individual participating life |  |  | $ | — |  |  | $ | — |  |  | $ | 6 |  |  | $ | 6 |
Individual non-participating life and health |  | — |  |  | 254 |  |  | 3 |  |  | 257 |
Individual annuities |  |  | 2,646 |  |  | — |  |  | 43 |  |  | 2,689 |
Group annuities |  |  | — |  |  | 212 |  |  | — |  |  | 212 |
Total investment contract liabilities |  | $ | 2,646 |  |  | $ | 466 |  |  | $ | 52 |  |  | $ | 3,164 |
Included in the Investment contract liabilities of $3,164 are liabilities of $515 for investment contracts with DPF, $2,646 for investment contracts without DPF measured at amortized cost, and $3 for investment contracts without DPF measured at fair value.
As at December 31, 2017 | SLF Canada |  |  | SLF Asia |  | Corporate |  |  | Total |
Individual participating life |  | $ | — |  |  | $ | — |  |  | $ | 8 |  |  | $ | 8 |
Individual non-participating life and health |  | — |  |  | 260 |  |  | 3 |  |  | 263 |
Individual annuities |  | 2,517 |  |  | — |  |  | 48 |  |  | 2,565 |
Group annuities |  | — |  |  | 246 |  |  | — |  |  | 246 |
Total investment contract liabilities |  | $ | 2,517 |  |  | $ | 506 |  |  | $ | 59 |  |  | $ | 3,082 |
Included in the Investment contract liabilities of $3,082 are liabilities of $562 for investment contracts with DPF, $2,517 for investment contracts without DPF measured at amortized cost, and $3 for investment contracts without DPF measured at fair value.
Schedule of reconciliation of changes in investment contract liabilities | Changes in investment contract liabilities without DPF are as follows:
For the years ended December 31, |  | 2018 |  | 2017
| Measured at fair value |  | Measured at amortized cost |  | Measured at fair value |  | Measured at amortized cost |
Balance as at January 1 |  | $ | 3 |  |  | $ | 2,517 |  |  | $ | 3 |  |  | $ | 2,305 |
Deposits |  | — |  |  | 483 |  |  | — |  |  | 470 |
Interest |  | — |  |  | 53 |  |  | — |  |  | 47 |
Withdrawals |  | — |  |  | (420 | ) |  | — |  |  | (322 | )
Fees |  | — |  |  | (8 | ) |  | — |  |  | (5 | )
Other |  | — |  |  | 21 |  |  | — |  |  | 19 |
Change in assumptions |  | — |  |  | — |  |  | — |  |  | 3 |
Balance as at December 31 |  | $ | 3 |  |  | $ | 2,646 |  |  | $ | 3 |  |  | $ | 2,517 |
Changes in investment contract liabilities with DPF are as follows:
For the years ended December 31, | 2018 |  | 2017 |
Balance as at January 1 |  | $ | 562 |  |  | $ | 605 |
Change in liabilities on in-force |  | (84 | ) |  | (10 | )
Liabilities arising from new policies |  | — |  |  | 1 |
Increase (decrease) in liabilities |  | (84 | ) |  | (9 | )
Foreign exchange rate movements |  | 37 |  |  | (34 | )
Balance as at December 31 |  | $ | 515 |  |  | $ | 562 |
Disclosure of claims and benefits paid | Gross claims and benefits paid consist of the following:
For the years ended December 31, |  | 2018 |  |  | 2017 |
Maturities and surrenders |  | $ | 2,609 |  |  | $ | 2,389 |
Annuity payments |  | 1,876 |  |  | 1,849 |
Death and disability benefits |  | 3,948 |  |  | 3,836 |
Health benefits |  | 6,421 |  |  | 6,079 |
Policyholder dividends and interest on claims and deposits |  | 1,132 |  |  | 1,200 |
Total gross claims and benefits paid |  | $ | 15,986 |  |  | $ | 15,353 |

X
- Definition The disclosure of information that identifies and explains the amounts in the entity's financial statements arising from insurance contracts. [Refer: Types of insurance contracts [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 4 -IssueDate 2017-01-01 -Paragraph 36 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=4&date=2017-03-01&anchor=para_36&doctype=Standard -URIDate 2017-03-09 + Details
Name: | ifrs-full_DisclosureOfAmountsArisingFromInsuranceContractsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of claims and benefits paid to policyholders. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2017-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_10_e&doctype=Standard -URIDate 2017-03-09 + Details
Name: | ifrs-full_DisclosureOfClaimsAndBenefitsPaidExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Impacts Of Method And Changes In Assumptions On Insurance Contract Liabilities [Table Text Block] + References No definition available. + Details
Name: | slf_DisclosureOfImpactsOfMethodAndChangesInAssumptionsOnInsuranceContractLiabilitiesTableTextBlock
Namespace Prefix: | slf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Investment Contract Liabilities [Table Text Block] + References No definition available. + Details
Name: | slf_DisclosureOfInvestmentContractLiabilitiesTableTextBlock
Namespace Prefix: | slf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Reconciliation Of Changes In Investment Contract Liabilities [Table Text Block] + References No definition available. + Details
Name: | slf_DisclosureOfReconciliationOfChangesInInvestmentContractLiabilitiesTableTextBlock
Namespace Prefix: | slf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Insurance Contracts [Abstract] + References No definition available. + Details
Name: | slf_InsuranceContractsAbstract
Namespace Prefix: | slf_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration