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Reinsurance | 12 Months Ended
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Dec. 31, 2021
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, 2021 | Canada | U.S. |  | Asia | Corporate(1) |  | Total
Individual participating life |  | $ | — |  |  | $ | 7 |  |  | $ | 214 |  |  | $ | — |  |  | $ | 221 |
Individual non-participating life and health |  | (547) |  |  | 838 |  |  | 33 |  |  | 16 |  |  | 340 |
Group life and health |  | 284 |  |  | 2,018 |  |  | 5 |  |  | — |  |  | 2,307 |
Individual annuities |  | — |  |  | — |  |  | — |  |  | 15 |  |  | 15 |
Group annuities |  | 22 |  |  | — |  |  | — |  |  | — |  |  | 22 |
Reinsurance assets before other policy assets | (241) |  |  | 2,863 |  |  | 252 |  |  | 31 |  |  | 2,905 |
Add: Other policy assets(2) |  | 95 |  |  | 563 |  |  | 81 |  |  | 39 |  |  | 778 |
Total Reinsurance assets |  | $ | (146) |  |  | $ | 3,426 |  |  | $ | 333 |  |  | $ | 70 |  |  | $ | 3,683 |
(1) Primarily business from the UK and run-off reinsurance operations. Includes UK business of $16 for Individual non-participating life and health, and $15 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, 2020 | Canada | U.S. | Asia | Corporate(1) |  | Total
Individual participating life |  | $ | 57 |  |  | $ | 9 |  |  | $ | 263 |  |  | $ | — |  |  | $ | 329 |
Individual non-participating life and health |  | (636) |  |  | 882 |  |  | 49 |  |  | 18 |  |  | 313 |
Group life and health |  | 403 |  |  | 1,920 |  |  | 4 |  |  | — |  |  | 2,327 |
Individual annuities |  | — |  |  | — |  |  | — |  |  | 17 |  |  | 17 |
Group annuities |  | 140 |  |  | — |  |  | — |  |  | — |  |  | 140 |
Reinsurance assets before other policy assets | (36) |  |  | 2,811 |  |  | 316 |  |  | 35 |  |  | 3,126 |
Add: Other policy assets(2) |  | 104 |  |  | 508 |  |  | 65 |  |  | 40 |  |  | 717 |
Total Reinsurance assets |  | $ | 68 |  |  | $ | 3,319 |  |  | $ | 381 |  |  | $ | 75 |  |  | $ | 3,843 |
(1) Primarily business from the UK and run-off reinsurance operations. Includes UK business of $18 for Individual non-participating life and health, and $17 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 2021 or 2020. Changes in Reinsurance assets are included in Note 10.A.iv. 11.B Reinsurance (Expenses) Recoveries Reinsurance (expenses) recoveries consist of the following:
For the years ended December 31, |  |  |  |  |  |  |  |  |  | 2021 |  | 2020
Recovered claims and benefits |  |  |  |  |  |  |  |  |  | $ | 2,233 |  |  | $ | 2,182 |
Commissions |  |  |  |  |  |  |  |  |  | 65 |  |  | 69
Reserve adjustments |  |  |  |  |  |  |  |  |  | 45 |  |  | 22
Operating expenses and other |  |  |  |  |  |  |  |  |  | 82 |  |  | 80
Total reinsurance (expenses) recoveries |  |  |  |  |  |  |  |  |  | $ | 2,425 |  |  | $ | 2,353 |
11.C Reinsurance Gains or Losses We did not enter into reinsurance arrangements that resulted in a gain or loss on inception in 2021. In 2020, we entered into a new reinsurance agreement that resulted in a loss of $66 on inception.

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