Segmented Information (Tables)

12 Months Ended

Dec. 31, 2019

Results by segment for the years ended December 31, are as follows:



	Canada			U.S.			Asset Management			Asia		Corporate				Consolidation adjustments				Total
2019
Gross premiums:
Annuities		$	3,276	$	1			$	—	$	2		$	23			$	—		$	3,302
Life insurance		5,178		1,605				—		2,597			90				—			9,470
Health insurance		5,629		4,232				—		31			16				—			9,908
Total gross premiums		14,083		5,838				—		2,630			129				—			22,680
Less: Ceded premiums		1,488		662				—		222			20				—			2,392
Net investment income (loss)		6,474		2,802				83		2,865			936				(20		)	13,140
Fee income		1,320		86				4,309		531			149				(144		)	6,251
Total revenue		20,389		8,064				4,392		5,804			1,194				(164		)	39,679
Less:
Total benefits and expenses		19,317		7,878				3,229		5,172			1,014				(164		)	36,446
Income tax expense (benefit)		15		28				262		51			(70		)		—			286
Total net income (loss)		$	1,057	$	158			$	901	$	581		$	250			$	—		$	2,947
Less:
Net income (loss) attributable to participating policyholders		174		(5		)		—		61			—				—			230
Net income (loss) attributable to non-controlling interests		—		—				4		—			—				—			4
Shareholders’ net income (loss)		$	883	$	163			$	897	$	520		$	250			$	—		$	2,713
2018
Gross premiums:
Annuities		$	3,261	$	—			$	—	$	1		$	(79	)		$	—		$	3,183
Life insurance		4,796		1,633				—		2,154			94				—			8,677
Health insurance		5,316		3,767				—		24			14				—			9,121
Total gross premiums		13,373		5,400				—		2,179			29				—			20,981
Less: Ceded premiums		1,487		597				—		232			23				—			2,339
Net investment income (loss)		1,942		305				13		76			79				(26		)	2,389
Fee income		1,240		73				4,111		514			154				(126		)	5,966
Total revenue		15,068		5,181				4,124		2,537			239				(152		)	26,997
Less:
Total benefits and expenses		13,497		5,183				2,930		1,919			109				(152		)	23,486
Income tax expense (benefit)		308		(19		)		284		51			(27		)		—			597
Total net income (loss)		$	1,263	$	17			$	910	$	567		$	157			$	—		$	2,914
Less:
Net income (loss) attributable to participating policyholders		321		(35		)		—		12			—				—			298
Shareholders’ net income (loss)		$	942	$	52			$	910	$	555		$	157			$	—		$	2,616

Assets and liabilities by segment are as follows:



	Canada			U.S.		Asset Management			Asia		Corporate			Consolidation adjustments				Total
As at December 31, 2019
Total general fund assets		$	94,909	$	34,711		$	5,666	$	31,285		$	13,930		$	(272	)	$	180,229
Investments for account of segregated fund holders		$	98,758	$	514		$	—	$	6,675		$	11,026		$	—		$	116,973
Total general fund liabilities		$	86,847	$	31,044		$	4,250	$	25,750		$	8,102		$	(272	)	$	155,721
As at December 31, 2018
Total general fund assets		$	86,697	$	34,584		$	4,468	$	28,855		$	14,378		$	(217	)	$	168,765
Investments for account of segregated fund holders		$	85,885	$	491		$	—	$	6,173		$	10,513		$	—		$	103,062
Total general fund liabilities		$	78,946	$	30,671		$	2,396	$	23,692		$	8,707		$	(217	)	$	144,195

Disclosure of geographical areas

The following table shows total assets by country for Asset Management and Corporate:



	Asset Management					Corporate
As at December 31,	2019		2018		2019			2018
Total general fund assets:
United States	$	4,770	$	4,147		$	2,329		$	2,550
United Kingdom	145		—			8,210			8,274
Canada⁽¹⁾	534		321			3,202			3,384
Other countries	217		—			189			170
Total general fund assets	$	5,666	$	4,468		$	13,930		$	14,378
Investment for account of segregated fund holders:
United Kingdom	$	—	$	—		$	11,026		$	10,513
Total investment for account of segregated fund holders	$	—	$	—		$	11,026		$	10,513

⁽¹⁾ Consists of the Canadian operations of Bentall Kennedy and Sun Life Institutional Investments (Canada) Inc. for Asset Management.

The following table shows revenue by country for Asset Management and Corporate:



	Asset Management				Corporate
For the years ended December 31,	2019		2018		2019		2018
Revenue:
United States	$	4,139	$	3,945	$	191	$	58
United Kingdom	32		—		903		142
Canada⁽¹⁾	210		179		93		38
Other countries	11		—		7		1
Total revenue	$	4,392	$	4,124	$	1,194	$	239

⁽¹⁾Consists of the Canadian operations of Bentall Kennedy and Sun Life Institutional Investments (Canada) Inc. for Asset Management.