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v3.19.3.a.u2

Reinsurance | 12 Months Ended
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Dec. 31, 2019
Insurance Contracts [Abstract] |
Reinsurance |
11. Reinsurance |
Reinsurance is used primarily to limit exposure to large losses. We have a retention policy that requires that such arrangements be placed with well-established, highly-rated reinsurers. Coverage is well-diversified and controls are in place to manage exposure to reinsurance counterparties. While reinsurance arrangements provide for the recovery of claims arising from the liabilities ceded, we retain primary responsibility to the policyholders. 11.A Reinsurance Assets Reinsurance assets are measured using the amounts and assumptions associated with the underlying insurance contracts and in accordance with the terms of each reinsurance contract. Reinsurance assets are comprised of the following:
As at December 31, 2019 | Canada |  | U.S. |  |  | Asia |  | Corporate(1) |  |  | Total |
Individual participating life |  | $ | 35 |  |  | $ | 10 |  |  | $ | 322 |  |  | $ | — |  |  | $ | 367 |
Individual non-participating life and health |  | (377 | ) |  | 913 |  |  | 48 |  |  | 20 |  |  | 604 |
Group life and health |  | 384 |  |  | 1,881 |  |  | 2 |  |  | — |  |  | 2,267 |
Individual annuities |  | — |  |  | — |  |  | — |  |  | 26 |  |  | 26 |
Group annuities |  | 131 |  |  | — |  |  | — |  |  | — |  |  | 131 |
Reinsurance assets before other policy assets | 173 |  |  | 2,804 |  |  | 372 |  |  | 46 |  |  | 3,395 |
Add: Other policy assets(2) |  | 73 |  |  | 456 |  |  | 57 |  |  | 43 |  |  | 629 |
Total Reinsurance assets |  | $ | 246 |  |  | $ | 3,260 |  |  | $ | 429 |  |  | $ | 89 |  |  | $ | 4,024 |
(1) Primarily business from the UK and run-off reinsurance operations. Includes UK business of $20 for Individual non-participating life and health, and $26 for Individual annuities. (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, 2018 | Canada |  | U.S. |  | Asia |  | Corporate(1) |  |  | Total |
Individual participating life |  | $ | 20 |  |  | $ | 10 |  |  | $ | 180 |  |  | $ | — |  |  | $ | 210 |
Individual non-participating life and health |  | (205 | ) |  | 1,076 |  |  | 36 |  |  | 21 |  |  | 928 |
Group life and health |  | 358 |  |  | 1,848 |  |  | 2 |  |  | — |  |  | 2,208 |
Individual annuities |  | — |  |  | — |  |  | — |  |  | 186 |  |  | 186 |
Group annuities |  | 121 |  |  | — |  |  | — |  |  | — |  |  | 121 |
Reinsurance assets before other policy assets | 294 |  |  | 2,934 |  |  | 218 |  |  | 207 |  |  | 3,653 |
Add: Other policy assets(2) |  | 80 |  |  | 307 |  |  | 42 |  |  | 59 |  |  | 488 |
Total Reinsurance assets |  | $ | 374 |  |  | $ | 3,241 |  |  | $ | 260 |  |  | $ | 266 |  |  | $ | 4,141 |
(1) Primarily business from the UK and run-off reinsurance operations. Includes UK business of $21 for Individual non-participating life and health, and $47 for Individual annuities. (2) Consists of amounts on deposit, policy benefits payable, provisions for unreported claims, provisions for policyholder dividends, and provisions for experience rating refunds. There was no impairment of Reinsurance assets in 2019 or 2018. Changes in Reinsurance assets are included in Note 10.A.iv. 11.B Reinsurance (Expenses) Recoveries Reinsurance (expenses) recoveries are comprised of the following:
For the years ended December 31, | 2019 |  | 2018 |
Recovered claims and benefits |  | $ | 1,955 |  |  | $ | 1,839 |
Commissions |  | 70 |  |  | 74 |
Reserve adjustments |  | 26 |  |  | 25 |
Operating expenses and other |  | 80 |  |  | 83 |
Reinsurance (expenses) recoveries |  | $ | 2,131 |  |  | $ | 2,021 |
11.C Reinsurance Gains or Losses We did no t enter into reinsurance arrangements that resulted in profits on inception in 2019 or 2018.

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- Definition Insurance Contracts [Abstract] + References No definition available. + Details
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